Peoples Bancorp of North Carolina (NASDAQ:PEBK) Cut to “Hold” at StockNews.com

Peoples Bancorp of North Carolina (NASDAQ:PEBK) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Peoples Bancorp of North Carolina Price Performance

Shares of NASDAQ:PEBK opened at $31.00 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Peoples Bancorp of North Carolina has a 1 year low of $16.35 and a 1 year high of $31.59. The business has a fifty day simple moving average of $27.89 and a 200 day simple moving average of $27.29. The firm has a market cap of $169.14 million, a price-to-earnings ratio of 10.58 and a beta of 0.60.

Insider Buying and Selling

In related news, Director James S. Abernethy sold 3,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $24.50, for a total transaction of $73,500.00. Following the completion of the sale, the director now directly owns 83,706 shares in the company, valued at $2,050,797. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 16.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

An institutional investor recently raised its position in Peoples Bancorp of North Carolina stock. AMG National Trust Bank raised its stake in shares of Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,245 shares of the bank’s stock after buying an additional 3,993 shares during the period. AMG National Trust Bank owned 0.67% of Peoples Bancorp of North Carolina worth $1,124,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.