Peoples Bancorp of North Carolina (NASDAQ:PEBK) Posts Quarterly Earnings Results

Peoples Bancorp of North Carolina (NASDAQ:PEBK) posted its quarterly earnings data on Monday. The bank reported $0.96 earnings per share for the quarter, Zacks reports. Peoples Bancorp of North Carolina had a return on equity of 13.07% and a net margin of 17.22%.

Peoples Bancorp of North Carolina Trading Down 1.1%

PEBK opened at $43.00 on Monday. The firm’s fifty day simple moving average is $42.36 and its 200 day simple moving average is $39.80. The stock has a market capitalization of $234.78 million, a P/E ratio of 11.85 and a beta of 0.29. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina has a 12 month low of $26.81 and a 12 month high of $45.78.

Peoples Bancorp of North Carolina Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, June 3rd were given a $0.21 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 23.14%.

Insider Transactions at Peoples Bancorp of North Carolina

In other Peoples Bancorp of North Carolina news, Director Ashton V. Abernethy sold 950 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $42.26, for a total transaction of $40,147.00. Following the completion of the transaction, the director owned 43,838 shares of the company’s stock, valued at $1,852,593.88. This represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert C. Abernethy, Jr. sold 1,200 shares of Peoples Bancorp of North Carolina 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 completion of the sale, the director owned 55,058 shares in the company, valued at $2,290,963.38. This trade represents a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 4,450 shares of company stock valued at $182,895. 14.50% of the stock is owned by corporate insiders.

Institutional Trading of Peoples Bancorp of North Carolina

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new stake in Peoples Bancorp of North Carolina during the fourth quarter worth approximately $249,000. Fourthstone LLC lifted its position in shares of Peoples Bancorp of North Carolina by 104.4% during the 4th quarter. Fourthstone LLC now owns 154,533 shares of the bank’s stock valued at $5,594,000 after acquiring an additional 78,921 shares during the period. Wells Fargo & Company MN raised its position in shares of Peoples Bancorp of North Carolina by 46.3% in the 4th quarter. Wells Fargo & Company MN now owns 4,725 shares of the bank’s stock valued at $171,000 after buying an additional 1,495 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the 4th quarter valued at $88,000. Finally, Dimensional Fund Advisors LP increased its position in Peoples Bancorp of North Carolina by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 159,879 shares of the bank’s stock worth $5,788,000 after purchasing an additional 2,598 shares in the last quarter. Institutional investors own 43.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded 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 currently 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.