Insider Selling: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $40,147.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Ashton Abernethy sold 950 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $42.26, for a total transaction of $40,147.00. Following the sale, the director owned 43,838 shares of the company’s stock, valued at approximately $1,852,593.88. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Peoples Bancorp of North Carolina Price Performance

Shares of PEBK opened at $42.36 on Friday. The firm has a market cap of $231.29 million, a PE ratio of 11.67 and a beta of 0.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $40.25 and a two-hundred day simple moving average of $37.51. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $26.81 and a 1-year high of $43.31.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last announced its earnings results on Monday, April 20th. The bank reported $0.80 earnings per share for the quarter. The business had revenue of $21.57 million during the quarter. Peoples Bancorp of North Carolina had a net margin of 17.22% and a return on equity of 13.07%.

Peoples Bancorp of North Carolina Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is 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 presently 23.14%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Peoples Bancorp of North Carolina presently has an average rating of “Buy”.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in shares of Peoples Bancorp of North Carolina by 116.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock worth $29,000 after purchasing an additional 502 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the 3rd quarter worth $45,000. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 351 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Peoples Bancorp of North Carolina in the 2nd quarter worth $63,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the 4th quarter worth $88,000. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

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.