StockNews.com Initiates Coverage on Peoples Bancorp of North Carolina (NASDAQ:PEBK)

StockNews.com initiated coverage on shares of Peoples Bancorp of North Carolina (NASDAQ:PEBKGet Rating) in a research note issued to investors on Monday. The brokerage set a “buy” rating on the bank’s stock.

Shares of NASDAQ PEBK opened at $26.26 on Monday. The stock has a market capitalization of $148.53 million, a price-to-earnings ratio of 10.38 and a beta of 0.77. The business has a 50-day moving average of $27.41 and a 200-day moving average of $27.91. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.80 and a quick ratio of 0.80. Peoples Bancorp of North Carolina has a fifty-two week low of $24.50 and a fifty-two week high of $30.00.

Peoples Bancorp of North Carolina (NASDAQ:PEBKGet Rating) last announced its quarterly earnings data on Monday, April 25th. The bank reported $0.61 earnings per share for the quarter. The company had revenue of $17.71 million during the quarter. Peoples Bancorp of North Carolina had a return on equity of 10.39% and a net margin of 19.90%.

In related news, COO William D. Cable sold 7,700 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $26.05, for a total value of $200,585.00. Following the completion of the sale, the chief operating officer now directly owns 19,914 shares in the company, valued at approximately $518,759.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James S. Abernethy sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $26.35, for a total transaction of $105,400.00. Following the completion of the sale, the director now owns 46,820 shares of the company’s stock, valued at $1,233,707. The disclosure for this sale can be found here. 18.61% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of PEBK. Salem Investment Counselors Inc. lifted its position in Peoples Bancorp of North Carolina by 100.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 2,200 shares of the bank’s stock worth $61,000 after acquiring an additional 1,100 shares during the last quarter. State Street Corp lifted its position in Peoples Bancorp of North Carolina by 6.2% during the first quarter. State Street Corp now owns 12,327 shares of the bank’s stock worth $354,000 after acquiring an additional 724 shares during the last quarter. BlackRock Inc. lifted its position in Peoples Bancorp of North Carolina by 4.7% during the fourth quarter. BlackRock Inc. now owns 12,880 shares of the bank’s stock worth $355,000 after acquiring an additional 578 shares during the last quarter. Greenwich Investment Management Inc. acquired a new stake in Peoples Bancorp of North Carolina during the fourth quarter worth approximately $466,000. Finally, Petiole USA ltd acquired a new stake in Peoples Bancorp of North Carolina during the fourth quarter worth approximately $525,000. Hedge funds and other institutional investors own 49.09% of the company’s stock.

Peoples Bancorp of North Carolina Company Profile (Get Rating)

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various commercial and consumer banking products and services to individuals and small to medium-sized businesses. It offers checking, savings, money market, and time deposits; demand deposits; and certificates of deposit, as well as borrowed funds.

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