Peoples Bancorp of North Carolina (NASDAQ:PEBK) Upgraded at StockNews.com

StockNews.com upgraded shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK - Free Report) from a hold rating to a buy rating in a research report released on Friday morning.

Peoples Bancorp of North Carolina Stock Performance

NASDAQ:PEBK traded up $1.00 during mid-day trading on Friday, hitting $28.42. 2,766 shares of the company traded hands, compared to its average volume of 19,500. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock's fifty day moving average price is $28.31 and its 200-day moving average price is $28.40. The firm has a market cap of $155.06 million, a price-to-earnings ratio of 9.54 and a beta of 0.60. Peoples Bancorp of North Carolina has a one year low of $23.74 and a one year high of $33.31.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released its earnings results on Wednesday, February 12th. The bank reported $0.65 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a net margin of 15.08% and a return on equity of 12.85%.

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Peoples Bancorp of North Carolina Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from Peoples Bancorp of North Carolina's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 2.81%. Peoples Bancorp of North Carolina's payout ratio is currently 26.85%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in Peoples Bancorp of North Carolina by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,590 shares of the bank's stock worth $81,000 after purchasing an additional 564 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Peoples Bancorp of North Carolina by 15.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,366 shares of the bank's stock valued at $111,000 after buying an additional 576 shares in the last quarter. American Century Companies Inc. increased its stake in Peoples Bancorp of North Carolina by 3.1% in the 4th quarter. American Century Companies Inc. now owns 23,380 shares of the bank's stock worth $731,000 after acquiring an additional 695 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Peoples Bancorp of North Carolina by 35.5% during the 4th quarter. Bank of America Corp DE now owns 4,649 shares of the bank's stock worth $145,000 after acquiring an additional 1,219 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Peoples Bancorp of North Carolina by 3.2% during the 4th quarter. Northern Trust Corp now owns 39,911 shares of the bank's stock valued at $1,247,000 after acquiring an additional 1,233 shares during the last quarter. Hedge funds and other institutional investors own 43.83% of the company's stock.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various banking products and services for individuals and small-to medium-sized businesses. It offers checking, savings, money market, and retirement accounts; certificates of deposits; and credit and debit cards.