Short Interest in Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Declines By 14.5%

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 18,900 shares, a decrease of 14.5% from the January 15th total of 22,100 shares. Based on an average trading volume of 4,000 shares, the days-to-cover ratio is currently 4.7 days. Approximately 0.4% of the company’s shares are short sold.

In other news, Director James S. Abernethy sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $28.00, for a total value of $28,000.00. Following the sale, the director now owns 58,722 shares of the company’s stock, valued at $1,644,216. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 11.28% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System raised its stake in shares of Peoples Bancorp of North Carolina by 4.6% in the fourth quarter. California Public Employees Retirement System now owns 9,147 shares of the bank’s stock valued at $300,000 after acquiring an additional 400 shares during the period. Bank of America Corp DE raised its stake in shares of Peoples Bancorp of North Carolina by 5.2% in the fourth quarter. Bank of America Corp DE now owns 9,523 shares of the bank’s stock valued at $313,000 after acquiring an additional 468 shares during the period. Rhumbline Advisers raised its stake in shares of Peoples Bancorp of North Carolina by 7.3% in the third quarter. Rhumbline Advisers now owns 7,344 shares of the bank’s stock valued at $218,000 after acquiring an additional 500 shares during the period. James Investment Research Inc. increased its stake in Peoples Bancorp of North Carolina by 199.0% in the 3rd quarter. James Investment Research Inc. now owns 2,392 shares of the bank’s stock worth $71,000 after buying an additional 1,592 shares during the period. Finally, Northern Trust Corp increased its stake in Peoples Bancorp of North Carolina by 3.4% in the 2nd quarter. Northern Trust Corp now owns 53,771 shares of the bank’s stock worth $1,615,000 after buying an additional 1,749 shares during the period. 33.47% of the stock is currently owned by institutional investors and hedge funds.

Separately, ValuEngine raised shares of Peoples Bancorp of North Carolina from a “sell” rating to a “hold” rating in a research note on Friday, January 24th.

Shares of PEBK traded down $0.24 during midday trading on Friday, hitting $28.30. The stock had a trading volume of 2,500 shares, compared to its average volume of 4,335. Peoples Bancorp of North Carolina has a 1 year low of $25.02 and a 1 year high of $34.32. The firm has a market cap of $167.19 million, a PE ratio of 12.22 and a beta of 0.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s 50 day moving average is $29.90 and its 200 day moving average is $29.48.

The company also recently announced a None dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Peoples Bancorp of North Carolina’s previous None dividend of $0.10.

About Peoples Bancorp of North Carolina

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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