Peoples Bancorp of North Carolina (NASDAQ:PEBK) Shares Cross Below 50 Day Moving Average - What's Next?

Key Points

• Peoples Bancorp shares fell below their 50-day moving average of $43.81, trading as low as $43.24 and last at $43.47.
• Analyst sentiment remains positive: Weiss Ratings upgraded the stock to “buy (a-),” and the consensus rating is “Strong Buy.” The bank reported quarterly EPS of $1.05 on revenue of $23.38 million.
• The company’s quarterly dividend of $0.21 per share equates to an annualized $0.84 and a yield of about 1.9%; insiders, meanwhile, sold 12,250 shares over the last 90 days.

Shares of Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $43.81 and traded as low as $43.24. Peoples Bancorp of North Carolina shares last traded at $43.47, with a volume of 20,731 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

Peoples Bancorp of North Carolina Stock Down 2.3%

The firm has a 50-day simple moving average of $43.81 and a 200 day simple moving average of $41.49. The stock has a market capitalization of $237.35 million, a P/E ratio of 10.81 and a beta of 0.31. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last issued its quarterly earnings data on Monday, October 19th. The bank reported $1.05 earnings per share (EPS) for the quarter. The business had revenue of $23.38 million during the quarter. Peoples Bancorp of North Carolina had a net margin of 18.93% and a return on equity of 13.84%.

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.84 annualized dividend and a yield of 1.9%. Peoples Bancorp of North Carolina's dividend payout ratio is currently 20.90%.

Insiders Place Their Bets

In other Peoples Bancorp of North Carolina news, Director Robert C. Abernethy sold 7,000 shares of the firm's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $43.61, for a total value of $305,270.00. Following the completion of the sale, the director directly owned 101,116 shares in the company, valued at approximately $4,409,668.76. This trade represents a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Abernethy, Jr. sold 1,200 shares of Peoples Bancorp of North Carolina stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $43.13, for a total transaction of $51,756.00. Following the completion of the sale, the director directly owned 57,566 shares of the company's stock, valued at approximately $2,482,821.58. This trade represents a 2.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders purchased 1,100 shares of company stock worth $47,536 and sold 12,250 shares worth $532,248. Corporate insiders own 14.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GTS Securities LLC bought a new stake in Peoples Bancorp of North Carolina during the 2nd quarter worth approximately $219,000. Empowered Funds LLC raised its stake in shares of Peoples Bancorp of North Carolina by 3.3% in the first quarter. Empowered Funds LLC now owns 35,324 shares of the bank's stock worth $1,383,000 after purchasing an additional 1,112 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Peoples Bancorp of North Carolina by 33.3% in the first quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank's stock worth $1,473,000 after purchasing an additional 9,407 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Peoples Bancorp of North Carolina in the first quarter valued at approximately $236,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Peoples Bancorp of North Carolina by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank's stock valued at $6,551,000 after purchasing an additional 7,404 shares in the last quarter. 43.83% of the stock is owned by institutional investors and hedge funds.

About Peoples Bancorp of North Carolina

Peoples Bancorp of North Carolina, Inc is the bank holding company for Peoples Bank, a community banking institution headquartered in Newton, North Carolina. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and nonprofit organizations.

Peoples Bank offers deposit products, including checking, savings, money market and certificate of deposit accounts, along with consumer, residential mortgage, commercial and real estate lending.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.