Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Robert Abernethy Sells 5,247 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy sold 5,247 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $43.34, for a total value of $227,404.98. Following the completion of the sale, the director owned 108,116 shares in the company, valued at approximately $4,685,747.44. The trade was a 4.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Peoples Bancorp of North Carolina Trading Down 0.9%

Shares of NASDAQ:PEBK traded down $0.41 on Thursday, hitting $43.04. 64,514 shares of the company’s stock were exchanged, compared to its average volume of 30,840. The stock has a market capitalization of $235.00 million, a price-to-earnings ratio of 11.82 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a 12 month low of $26.81 and a 12 month high of $45.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50 day simple moving average is $42.89 and its two-hundred day simple moving average is $40.43.

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

Peoples Bancorp of North Carolina Announces Dividend

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

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of Peoples Bancorp of North Carolina by 116.7% during the third quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock valued at $29,000 after buying an additional 502 shares during the period. Advisory Services Network LLC bought a new position in Peoples Bancorp of North Carolina during the 3rd quarter worth about $45,000. BNP Paribas Financial Markets grew its holdings in Peoples Bancorp of North Carolina by 28.1% during 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. purchased a new position in Peoples Bancorp of North Carolina during the 2nd quarter valued at about $63,000. Finally, MetLife Investment Management LLC purchased a new position in Peoples Bancorp of North Carolina during the 4th quarter valued at about $88,000. Institutional investors own 43.83% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Peoples Bancorp of North Carolina Company Profile

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.