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

StockNews.com cut shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) from a buy rating to a hold rating in a research note published on Tuesday.

Peoples Bancorp of North Carolina Stock Performance

Peoples Bancorp of North Carolina stock opened at $26.69 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $145.67 million, a PE ratio of 8.96 and a beta of 0.60. The company has a 50 day moving average price of $29.64 and a 200-day moving average price of $28.63. Peoples Bancorp of North Carolina has a fifty-two week low of $23.74 and a fifty-two week high of $33.31.

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

Peoples Bancorp of North Carolina Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.20 per share. This is an increase from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 3.00%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is 25.50%.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN raised its stake in Peoples Bancorp of North Carolina by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,590 shares of the bank’s stock worth $81,000 after buying an additional 564 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Peoples Bancorp of North Carolina in the 4th quarter worth $82,000. MetLife Investment Management LLC purchased a new stake in shares of Peoples Bancorp of North Carolina during the 4th quarter worth $85,000. JPMorgan Chase & Co. boosted its position in Peoples Bancorp of North Carolina by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 4,366 shares of the bank’s stock valued at $111,000 after purchasing an additional 576 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Peoples Bancorp of North Carolina by 35.5% in the fourth quarter. Bank of America Corp DE now owns 4,649 shares of the bank’s stock valued at $145,000 after purchasing an additional 1,219 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.