Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Sees Significant Growth in Short Interest

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 55,373 shares, an increase of 45.9% from the February 26th total of 37,963 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 21,707 shares, the short-interest ratio is presently 2.6 days.

Insider Activity at Peoples Bancorp of North Carolina

In other news, Director James S. Abernethy sold 1,000 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $38.34, for a total value of $38,340.00. Following the transaction, the director owned 72,526 shares of the company’s stock, valued at approximately $2,780,646.84. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 2,123 shares of company stock valued at $81,586 over the last quarter. 16.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in Peoples Bancorp of North Carolina by 116.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock valued at $29,000 after buying an additional 502 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in Peoples Bancorp of North Carolina during the second quarter valued at $29,000. Advisory Services Network LLC bought a new position in Peoples Bancorp of North Carolina during the third quarter valued at $45,000. BNP Paribas Financial Markets raised its stake in shares of Peoples Bancorp of North Carolina by 28.1% in the third quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock valued at $49,000 after acquiring an additional 351 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Peoples Bancorp of North Carolina in the 2nd quarter worth about $63,000. Institutional investors own 43.83% of the company’s stock.

Peoples Bancorp of North Carolina Price Performance

Shares of Peoples Bancorp of North Carolina stock traded down $0.10 during trading hours on Friday, reaching $38.49. The company’s stock had a trading volume of 16,407 shares, compared to its average volume of 25,989. The firm has a 50 day moving average price of $37.88 and a 200-day moving average price of $34.46. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $210.16 million, a P/E ratio of 10.63 and a beta of 0.31. Peoples Bancorp of North Carolina has a one year low of $23.74 and a one year high of $40.74.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last announced its quarterly earnings results on Monday, January 26th. The bank reported $1.21 EPS for the quarter. The firm had revenue of $24.99 million during the quarter. Peoples Bancorp of North Carolina had a net margin of 17.30% and a return on equity of 13.47%.

Peoples Bancorp of North Carolina Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, March 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, March 4th. This is a positive change from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. Peoples Bancorp of North Carolina’s dividend payout ratio is 23.20%.

Analyst Ratings Changes

Several analysts have commented on PEBK shares. Wall Street Zen upgraded shares of Peoples Bancorp of North Carolina to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc is a bank holding company headquartered in Hickory, North Carolina, that operates through its wholly owned subsidiary, Peoples Bank. The company provides a comprehensive suite of banking and financial services tailored to individuals, small businesses, and municipal clients in the western region of North Carolina.

Through its community banking network, Peoples Bancorp offers deposit products such as checking, savings, money market accounts and certificates of deposit, alongside consumer and commercial lending solutions.