Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Sees Significant Growth in Short Interest

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 26,600 shares, an increase of 47.8% from the May 30th total of 18,000 shares. Based on an average daily trading volume, of 8,300 shares, the days-to-cover ratio is presently 3.2 days. Approximately 0.6% of the company’s stock are short sold.

Separately, ValuEngine upgraded Yirendai from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd.

In other news, Director James S. Abernethy sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $27.77, for a total value of $41,655.00. Following the completion of the transaction, the director now directly owns 62,797 shares in the company, valued at $1,743,872.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.28% of the company’s stock.

Several large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in shares of Peoples Bancorp of North Carolina by 559.7% in the first quarter. BNP Paribas Arbitrage SA now owns 983 shares of the bank’s stock worth $26,000 after purchasing an additional 834 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Peoples Bancorp of North Carolina by 43.4% in the fourth quarter. Bank of America Corp DE now owns 3,777 shares of the bank’s stock worth $92,000 after purchasing an additional 1,144 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Peoples Bancorp of North Carolina in the fourth quarter worth about $35,000. Geode Capital Management LLC raised its stake in shares of Peoples Bancorp of North Carolina by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 54,137 shares of the bank’s stock worth $1,324,000 after purchasing an additional 1,935 shares during the last quarter. Finally, Aspire Private Capital LLC purchased a new position in shares of Peoples Bancorp of North Carolina in the fourth quarter worth about $71,000. Hedge funds and other institutional investors own 32.85% of the company’s stock.

Shares of NASDAQ:PEBK traded up $0.09 during trading on Thursday, hitting $27.75. The stock had a trading volume of 3,100 shares, compared to its average volume of 7,577. Peoples Bancorp of North Carolina has a 12-month low of $20.03 and a 12-month high of $34.32. The firm has a market capitalization of $170.99 million, a PE ratio of 12.59 and a beta of 0.74. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $27.96.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a return on equity of 11.27% and a net margin of 21.71%. The firm had revenue of $15.55 million during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, May 31st.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc operates as a bank holding company for Peoples Bank that provides various banking products and services to individuals and small to medium-sized businesses. It offers various deposit products. The company's loan products comprise commercial real estate, commercial, construction and land development, single-family residential, residential mortgage, individual taxpayer identification number mortgage loans, as well as agricultural loans.

Further Reading: What is a Market Correction?

Receive News & Ratings for Peoples Bancorp of North Carolina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peoples Bancorp of North Carolina and related companies with MarketBeat.com's FREE daily email newsletter.