StockNews.com Downgrades Peoples Bancorp of North Carolina (NASDAQ:PEBK) to Hold

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

Peoples Bancorp of North Carolina Stock Performance

Shares of PEBK stock opened at $26.69 on Tuesday. Peoples Bancorp of North Carolina has a 52-week low of $23.74 and a 52-week high of $33.31. 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 has a market cap of $145.67 million, a PE ratio of 8.96 and a beta of 0.60. The business has a 50-day simple moving average of $29.64 and a 200-day simple moving average of $28.63.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly earnings data on Wednesday, February 12th. The bank reported $0.65 EPS 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a $0.20 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.00%. This is an increase from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.19. Peoples Bancorp of North Carolina’s dividend payout ratio is 25.50%.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its holdings 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 during the period. Deutsche Bank AG purchased a new stake in shares of Peoples Bancorp of North Carolina in the fourth quarter valued at approximately $82,000. MetLife Investment Management LLC acquired a new position in shares of Peoples Bancorp of North Carolina during the 4th quarter worth approximately $85,000. JPMorgan Chase & Co. lifted its position in shares of 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. Finally, Bank of America Corp DE grew its stake in 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 valued at $145,000 after acquiring an additional 1,219 shares during the period. 43.83% of the stock is currently 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.