Peoples Bancorp of North Carolina (NASDAQ:PEBK) Rating Increased to Buy at StockNews.com

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Thursday.

Peoples Bancorp of North Carolina Price Performance

NASDAQ PEBK traded down $0.08 during trading on Thursday, hitting $30.16. 4,181 shares of the company's stock were exchanged, compared to its average volume of 7,959. The stock's 50 day moving average price is $30.36 and its two-hundred day moving average price is $28.72. Peoples Bancorp of North Carolina has a fifty-two week low of $23.74 and a fifty-two week high of $33.31. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The company has a market cap of $164.67 million, a PE ratio of 10.22 and a beta of 0.60.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released its quarterly earnings data 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 15.27% and a return on equity of 12.92%.

Insider Activity

In other Peoples Bancorp of North Carolina news, Director James S. Abernethy sold 1,000 shares of Peoples Bancorp of North Carolina stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $30.02, for a total transaction of $30,020.00. Following the transaction, the director now directly owns 73,976 shares of the company's stock, valued at approximately $2,220,759.52. The trade was a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of hedge funds and other institutional investors have recently made changes to their positions in PEBK. Wells Fargo & Company MN raised its holdings in Peoples Bancorp of North Carolina by 27.8% during 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 during the last quarter. Deutsche Bank AG acquired a new position in Peoples Bancorp of North Carolina in the fourth quarter valued at $82,000. MetLife Investment Management LLC bought a new stake in Peoples Bancorp of North Carolina during the fourth quarter valued at $85,000. 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 worth $111,000 after acquiring an additional 576 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Peoples Bancorp of North Carolina by 35.5% in 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. 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 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.