Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) to issue increased dividend – $0.18 per share

Peoples Bancorp of North Carolina, Inc. (NASDAQ: PEBK – Get a rating) declared a quarterly dividend on Tuesday, February 22, the wall street journal reports. Shareholders of record on Thursday March 3 will receive a dividend of 0.18 per share from the bank on Tuesday March 15. This represents a dividend of $0.72 on an annualized basis and a dividend yield of 2.53%. The ex-date of this dividend is Wednesday, March 2. This is a positive change from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.17.

Peoples Bancorp of North Carolina has increased its dividend by 8.3% over the past three years and has increased its dividend every year for the past 10 years.

Shares of Peoples Bancorp of North Carolina opened at $28.49 on Tuesday. Peoples Bancorp of North Carolina has a 52 week minimum of $22.10 and a 52 week maximum of $30.00. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt ratio of 0.11. The company’s 50-day moving average price is $28.05. The company has a market capitalization of $164.93 million, a price-earnings ratio of 10.83 and a beta of 0.78.

Peoples Bancorp of North Carolina (NASDAQ: PEBK – Get a rating) last released its quarterly results on Monday, January 24. The bank reported earnings per share (EPS) of $0.53 for the quarter. Peoples Bancorp of North Carolina achieved a net margin of 20.99% and a return on equity of 10.58%. The company had revenue of $17.60 million for the quarter.

Separately, StockNews.com assumed coverage of Peoples Bancorp shares of North Carolina in a report on Tuesday, February 22. They set a “buy” rating on the stock.

Hedge funds have recently increased or reduced their holdings in the stock. Salem Investment Counselors Inc. increased its holdings in Peoples Bancorp of North Carolina by 100.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 2,200 shares of the bank worth $61,000 after buying an additional 1,100 shares in the last quarter. BlackRock Inc. increased its holdings in Peoples Bancorp of North Carolina by 4.7% during the fourth quarter. BlackRock Inc. now owns 12,880 shares of the bank worth $355,000 after buying 578 additional shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Peoples Bancorp of North Carolina during the second quarter at a value of approximately $530,000. 46.97% of the shares are currently held by hedge funds and other institutional investors.

About Peoples Bancorp of North Carolina (Get a rating)

Peoples Bancorp of North Carolina, Inc. is a holding company of Peoples Bank, which provides a full range of commercial and personal banking products and services, including personal banking, business banking, online banking, mobile banking, personal loans, lending services, cash management and wealth management services.

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