Peoples Bancorp of North Carolina (NASDAQ:PEBK) Upgraded by StockNews.com to “Buy” Rating

Peoples Bancorp of North Carolina (NASDAQ:PEBK) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Peoples Bancorp of North Carolina Stock Performance

Peoples Bancorp of North Carolina stock opened at $27.68 on Friday. Peoples Bancorp of North Carolina has a 1-year low of $23.74 and a 1-year high of $33.31. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $151.02 million, a PE ratio of 9.29 and a beta of 0.60. The firm’s 50 day simple moving average is $28.33 and its 200 day simple moving average is $28.42.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PEBK. Wells Fargo & Company MN grew its stake 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 buying an additional 564 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Peoples Bancorp of North Carolina during the 4th quarter worth $82,000. MetLife Investment Management LLC purchased a new position in Peoples Bancorp of North Carolina in the fourth quarter worth $85,000. JPMorgan Chase & Co. increased its stake in Peoples Bancorp of North Carolina by 15.2% in the third quarter. JPMorgan Chase & Co. now owns 4,366 shares of the bank’s stock valued at $111,000 after acquiring an additional 576 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Peoples Bancorp of North Carolina by 35.5% during 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 in the last quarter. 43.83% of the stock is currently owned by institutional investors.

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.