Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director James Abernethy Sells 1,000 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $42.91, for a total value of $42,910.00. Following the sale, the director owned 66,626 shares in the company, valued at approximately $2,858,921.66. This trade represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Peoples Bancorp of North Carolina Price Performance

Shares of NASDAQ:PEBK remained flat at $43.00 during trading on Friday. The stock had a trading volume of 25,598 shares, compared to its average volume of 29,978. The company has a market cap of $234.78 million, a PE ratio of 11.81 and a beta of 0.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $42.79 and a two-hundred day moving average price of $40.24. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $26.81 and a 1-year high of $45.78.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its earnings results on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.88% and a net margin of 17.25%.The firm had revenue of $23.11 million for the quarter.

Peoples Bancorp of North Carolina Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, June 3rd were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 23.08%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its holdings in Peoples Bancorp of North Carolina by 116.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock valued at $29,000 after buying an additional 502 shares in the last quarter. Advisory Services Network LLC bought a new position in Peoples Bancorp of North Carolina in the 3rd quarter worth about $45,000. BNP Paribas Financial Markets grew its stake in Peoples Bancorp of North Carolina by 28.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock worth $49,000 after acquiring an additional 351 shares in the last quarter. Raymond James Financial Inc. bought a new position in Peoples Bancorp of North Carolina in the 2nd quarter worth about $63,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Peoples Bancorp of North Carolina during the fourth quarter worth approximately $88,000. 43.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp of North Carolina in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Peoples Bancorp of North Carolina presently has an average rating of “Buy”.

About Peoples Bancorp of North Carolina

Peoples Bancorp of North Carolina, Inc is a bank holding company headquartered in Hickory, North Carolina, that operates through its wholly owned subsidiary, Peoples Bank. The company provides a comprehensive suite of banking and financial services tailored to individuals, small businesses, and municipal clients in the western region of North Carolina.

Through its community banking network, Peoples Bancorp offers deposit products such as checking, savings, money market accounts and certificates of deposit, alongside consumer and commercial lending solutions.