Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Short Interest Down 9.1% in July

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 21,000 shares, a drop of 9.1% from the June 30th total of 23,100 shares. Based on an average trading volume of 6,800 shares, the short-interest ratio is presently 3.1 days. Approximately 0.5% of the company’s shares are sold short.

Shares of PEBK traded up $0.69 during trading hours on Friday, hitting $27.43. The stock had a trading volume of 10,595 shares, compared to its average volume of 7,541. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $27.83 and a 200-day simple moving average of $27.63. The firm has a market capitalization of $166.13 million, a P/E ratio of 12.28 and a beta of 0.75. Peoples Bancorp of North Carolina has a 1-year low of $20.03 and a 1-year high of $34.32.

In other Peoples Bancorp of North Carolina news, Director James S. Abernethy sold 1,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $27.50, for a total transaction of $27,500.00. Following the completion of the sale, the director now directly owns 61,697 shares in the company, valued at approximately $1,696,667.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 11.28% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its stake in shares of Peoples Bancorp of North Carolina by 559.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 983 shares of the bank’s stock valued at $26,000 after buying an additional 834 shares during the period. Bank of America Corp DE grew its stake in shares of Peoples Bancorp of North Carolina by 43.4% in the 4th quarter. Bank of America Corp DE now owns 3,777 shares of the bank’s stock valued at $92,000 after buying an additional 1,144 shares during the period. Northern Trust Corp grew its stake in shares of 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 valued at $1,615,000 after buying an additional 1,749 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Peoples Bancorp of North Carolina by 134.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,364 shares of the bank’s stock valued at $89,000 after buying an additional 1,927 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Peoples Bancorp of North Carolina by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 54,137 shares of the bank’s stock valued at $1,324,000 after buying an additional 1,935 shares during the period. Institutional investors own 32.81% of the company’s stock.

Separately, ValuEngine upgraded Peoples Bancorp of North Carolina from a “sell” rating to a “hold” rating in a report on Friday, May 3rd.

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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