People’s Bancorp of North Carolina (NASDAQ:PEBK) started coverage on StockNews.com

StockNews.com began reporting shares of North Carolina-based Peoples Bancorp (NASDAQ:PEBK – Get Valuation) in a research note published on Sunday. The company has given the bank’s stock a “buy” rating.

Price development of Peoples Bancorp from North Carolina

PEBK opened at $28.50 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.77 and a debt to equity ratio of 0.15. North Carolina-based Peoples Bancorp has a 12-month low of $24.42 and a 12-month high of $30.00. The company has a 50-day simple moving average of $26.05 and a 200-day simple moving average of $26.44. The stock has a market cap of $161.31 million, a P/E of 10.80 and a beta of 0.68.

Insider transactions at Peoples Bancorp in North Carolina

In related news, Director James S. Abernethy sold 3,200 shares of Peoples Bancorp of North Carolina in a transaction that took place on Friday, October 28th. The shares sold at an average price of $27.50 for a total value of $88,000.00. Following the transaction, the director now directly owns 43,620 shares of the company, valued at $1,199,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed at this hyperlink. Insiders own 18.61% of the company’s shares.

Institutional investors rely on Peoples Bancorp from North Carolina

Several hedge funds and other institutional investors have recently changed their positions in PEBK. BlackRock Inc. increased its stake in North Carolina-based Peoples Bancorp by 4.7% in the first quarter. BlackRock Inc. now owns 13,487 shares of the bank, valued at $387,000, after purchasing an additional 607 shares last quarter. Dimensional Fund Advisors LP increased its stake in North Carolina-based Peoples Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 163,408 shares of the bank, valued at $4,690,000, after purchasing an additional 1,419 shares last quarter. Vanguard Group Inc. increased its stake in North Carolina-based Peoples Bancorp by 27.7% in the first quarter. Vanguard Group Inc. now owns 157,506 shares of the bank, valued at $4,520,000, after purchasing an additional 34,178 shares last quarter. Fourthstone LLC increased its stake in North Carolina-based Peoples Bancorp by 1.3% during the first quarter. Fourthstone LLC now owns 251,828 shares of the bank valued at $7,227,000 after purchasing an additional 3,234 shares last quarter. Finally, State Street Corp increased its holding in North Carolina-based Peoples Bancorp by 6.2% during the first quarter. State Street Corp now owns 12,327 shares of the bank, valued at $354,000, after buying another 724 shares last quarter. 34.33% of the shares are owned by institutional investors.

About Peoples Bancorp of North Carolina

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Peoples Bancorp of North Carolina, Inc acts as the banking holding company for Peoples Bank, which provides a variety of business and consumer banking products and services to individuals and small to medium sized businesses. It offers checking, savings, money market and term deposits; sight deposits; and certificates of deposit and debt capital.

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