Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock Price Breaks Above 50-Day Moving Average - Here's Why

Key Points

• Peoples Bancorp of North Carolina shares broke above their 50-day moving average, reaching $44.71 before closing at $43.58. The stock’s 50-day and 200-day averages were $43.74 and $42.24, respectively.
• The company reported quarterly earnings of $0.96 per share on $23.11 million in revenue, with a 12.75% return on equity and a 17.25% net margin.
• Weiss Ratings upgraded the stock to “buy (b+),” while the company maintained a quarterly dividend of $0.21 per share, equal to a 1.9% yield; however, insiders sold 18,397 shares over the past 90 days.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) shares passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $43.74 and traded as high as $44.71. Peoples Bancorp of North Carolina shares last traded at $43.58, with a volume of 10,379 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Peoples Bancorp of North Carolina from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Peoples Bancorp of North Carolina currently has an average rating of "Buy".

Peoples Bancorp of North Carolina Stock Performance

The firm has a fifty day simple moving average of $43.74 and a 200 day simple moving average of $42.24. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The stock has a market cap of $238.03 million, a price-to-earnings ratio of 11.97 and a beta of 0.30.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. The company had revenue of $23.11 million for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.

Peoples Bancorp of North Carolina Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. Peoples Bancorp of North Carolina's payout ratio is currently 23.08%.

Insider Buying and Selling at Peoples Bancorp of North Carolina

In other news, Director Robert C. Abernethy, Jr. sold 1,200 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $43.13, for a total value of $51,756.00. Following the completion of the transaction, the director owned 57,566 shares in the company, valued at approximately $2,482,821.58. This represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Abernethy sold 1,000 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $43.11, for a total transaction of $43,110.00. Following the transaction, the director directly owned 65,626 shares of the company's stock, valued at $2,829,136.86. The trade was a 1.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,397 shares of company stock valued at $796,889 in the last 90 days. 14.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Hedge funds have recently modified their holdings of the stock. GTS Securities LLC acquired a new position in Peoples Bancorp of North Carolina in the second quarter worth $219,000. Empowered Funds LLC increased 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 valued at $1,383,000 after buying an additional 1,112 shares in the last quarter. Renaissance Technologies LLC raised its holdings 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 valued at $1,473,000 after buying 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 about $236,000. Finally, Dimensional Fund Advisors LP lifted its position in Peoples Bancorp of North Carolina by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank's stock worth $6,551,000 after buying an additional 7,404 shares in the last quarter. 43.83% of the stock is owned by institutional investors and hedge funds.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc is the bank holding company for Peoples Bank, a community banking institution headquartered in Newton, North Carolina. Peoples Bank provides financial services to individuals, families, businesses and organizations through a network of banking offices and digital banking channels.

The bank's products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial real estate and business loans, agricultural lending, online and mobile banking, treasury management and other related financial services.

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