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

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 1,000 shares of Peoples Bancorp of North Carolina stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $43.11, for a total value of $43,110.00. Following the transaction, the director directly owned 65,626 shares in the company, valued at $2,829,136.86. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Peoples Bancorp of North Carolina Trading Up 1.1%

Shares of PEBK stock opened at $43.80 on Friday. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $27.33 and a 1-year high of $45.78. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The stock has a market cap of $239.24 million, a price-to-earnings ratio of 12.03 and a beta of 0.29. The stock has a 50-day moving average of $43.31 and a 200-day moving average of $41.27.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last announced its earnings results on Monday, July 20th. The bank reported $0.96 EPS for the quarter. The business had revenue of $23.11 million for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.

Peoples Bancorp of North Carolina Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. Peoples Bancorp of North Carolina’s dividend payout ratio is 23.08%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several institutional investors have recently made changes to their positions in PEBK. Empowered Funds LLC grew its stake in shares of Peoples Bancorp of North Carolina by 7.1% in the 1st quarter. Empowered Funds LLC now owns 34,009 shares of the bank’s stock valued at $926,000 after buying an additional 2,244 shares during the period. Geode Capital Management LLC boosted its holdings in Peoples Bancorp of North Carolina by 0.5% in the second quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock worth $3,157,000 after acquiring an additional 530 shares in the last quarter. First Trust Advisors LP grew its stake in Peoples Bancorp of North Carolina by 15.1% in the second quarter. First Trust Advisors LP now owns 21,366 shares of the bank’s stock valued at $616,000 after acquiring an additional 2,809 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Peoples Bancorp of North Carolina during the second quarter worth approximately $63,000. Finally, Jane Street Group LLC bought a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter worth $212,000. Institutional investors and hedge funds own 43.83% of the company’s stock.

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.