Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock Passes Above 50-Day Moving Average – Time to Sell?

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $42.29 and traded as high as $42.73. Peoples Bancorp of North Carolina shares last traded at $42.06, with a volume of 10,845 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Peoples Bancorp of North Carolina has an average rating of “Buy”.

Peoples Bancorp of North Carolina Trading Up 0.2%

The company has a market cap of $229.65 million, a P/E ratio of 11.59 and a beta of 0.29. The stock’s 50-day moving average is $42.29 and its two-hundred day moving average is $39.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its earnings results on Monday, April 20th. The bank reported $0.80 EPS for the quarter. The business had revenue of $21.57 million during the quarter. Peoples Bancorp of North Carolina had a net margin of 17.22% and a return on equity of 13.07%.

Peoples Bancorp of North Carolina Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, June 3rd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, June 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is 23.14%.

Insider Buying and Selling at Peoples Bancorp of North Carolina

In other Peoples Bancorp of North Carolina news, Director Ashton V. Abernethy sold 950 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $42.26, for a total value of $40,147.00. Following the transaction, the director owned 43,838 shares of the company’s stock, valued at approximately $1,852,593.88. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert C. Abernethy, Jr. sold 1,200 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.61, for a total value of $49,932.00. Following the completion of the transaction, the director directly owned 55,058 shares in the company, valued at approximately $2,290,963.38. This represents a 2.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,450 shares of company stock valued at $182,895 in the last ninety days. 14.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. increased its stake in Peoples Bancorp of North Carolina by 116.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock worth $29,000 after buying an additional 502 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Peoples Bancorp of North Carolina in the third quarter valued at about $45,000. BNP Paribas Financial Markets grew its position in shares of Peoples Bancorp of North Carolina by 28.1% during the third quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock worth $49,000 after purchasing an additional 351 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Peoples Bancorp of North Carolina during the 2nd quarter valued at approximately $63,000. Finally, MetLife Investment Management LLC purchased a new position in Peoples Bancorp of North Carolina in the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 43.83% of the company’s stock.

About Peoples Bancorp of North Carolina

Peoples Bancorp of North Carolina, Inc is a bank holding company headquartered in Hickory, North Carolina, that operates through its wholly owned subsidiary, Peoples Bank. The company provides a comprehensive suite of banking and financial services tailored to individuals, small businesses, and municipal clients in the western region of North Carolina.

Through its community banking network, Peoples Bancorp offers deposit products such as checking, savings, money market accounts and certificates of deposit, alongside consumer and commercial lending solutions.