Peoples Bancorp of North Carolina (NASDAQ:PEBK) Cut to “Sell” at ValuEngine

Peoples Bancorp of North Carolina (NASDAQ:PEBK) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday, ValuEngine reports.

Peoples Bancorp of North Carolina stock opened at $31.40 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50-day simple moving average is $30.27 and its two-hundred day simple moving average is $28.58. The company has a market cap of $185.46 million, a PE ratio of 12.96 and a beta of 0.74. Peoples Bancorp of North Carolina has a fifty-two week low of $20.03 and a fifty-two week high of $34.32.

In other Peoples Bancorp of North Carolina news, Director James S. Abernethy sold 1,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $29.26, for a total transaction of $29,260.00. Following the sale, the director now owns 59,972 shares in the company, valued at approximately $1,754,780.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.28% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Peoples Bancorp of North Carolina by 5.6% during the 2nd quarter. BlackRock Inc. now owns 218,571 shares of the bank’s stock valued at $6,568,000 after purchasing an additional 11,518 shares during the last quarter. Maltese Capital Management LLC grew its stake in Peoples Bancorp of North Carolina by 32.2% during the 2nd quarter. Maltese Capital Management LLC now owns 79,310 shares of the bank’s stock valued at $2,383,000 after purchasing an additional 19,310 shares during the last quarter. Northern Trust Corp grew its stake in Peoples Bancorp of North Carolina by 3.4% during the 2nd quarter. Northern Trust Corp now owns 53,771 shares of the bank’s stock valued at $1,615,000 after purchasing an additional 1,749 shares during the last quarter. Renaissance Technologies LLC grew its stake in Peoples Bancorp of North Carolina by 19.1% during the 2nd quarter. Renaissance Technologies LLC now owns 45,592 shares of the bank’s stock valued at $1,370,000 after purchasing an additional 7,300 shares during the last quarter. Finally, Southside Capital LLC grew its stake in Peoples Bancorp of North Carolina by 176.4% during the 2nd quarter. Southside Capital LLC now owns 15,669 shares of the bank’s stock valued at $471,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 33.46% of the company’s stock.

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.

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