Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Robert Abernethy, Jr. Sells 1,200 Shares of Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy, Jr. sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $41.61, for a total transaction of $49,932.00. Following the transaction, the director directly owned 55,058 shares in the company, valued at $2,290,963.38. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Peoples Bancorp of North Carolina Stock Performance

Shares of PEBK opened at $41.51 on Tuesday. 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 company has a market capitalization of $226.73 million, a PE ratio of 11.44 and a beta of 0.28. Peoples Bancorp of North Carolina, Inc. has a 52 week low of $26.81 and a 52 week high of $43.31. The company’s 50 day moving average price is $40.42 and its 200 day moving average price is $37.68.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its earnings results on Monday, April 20th. The bank reported $0.80 EPS for the quarter. The company 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, June 3rd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, June 3rd. Peoples Bancorp of North Carolina’s payout ratio is presently 23.14%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEBK. Russell Investments Group Ltd. boosted its stake 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 worth $29,000 after acquiring an additional 502 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the third quarter valued at approximately $45,000. BNP Paribas Financial Markets raised its holdings in shares of Peoples Bancorp of North Carolina by 28.1% in the third quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock valued at $49,000 after purchasing an additional 351 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Peoples Bancorp of North Carolina in the second quarter valued at approximately $63,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the fourth quarter valued at approximately $88,000. 43.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus 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.