Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 29,300 shares, a decrease of 7.0% from the October 31st total of 31,500 shares. Based on an average daily volume of 7,900 shares, the days-to-cover ratio is presently 3.7 days. Currently, 0.7% of the company’s shares are sold short.
Separately, ValuEngine raised Peoples Bancorp of North Carolina from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th.
In other news, Director James S. Abernethy sold 1,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $29.26, for a total transaction of $29,260.00. Following the completion of the sale, the director now owns 59,972 shares of the company’s stock, valued at $1,754,780.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.28% of the company’s stock.
Shares of PEBK stock opened at $31.50 on Monday. The stock has a fifty day moving average of $30.17 and a 200 day moving average of $28.53. Peoples Bancorp of North Carolina has a 52 week low of $20.03 and a 52 week high of $34.32. The firm has a market capitalization of $185.82 million, a price-to-earnings ratio of 12.93 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71.
The firm also recently declared a dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, December 3rd will be paid a $0.14 dividend. This is a positive change from Peoples Bancorp of North Carolina’s previous dividend of $0.10. The ex-dividend date is Monday, December 2nd.
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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