Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director James Abernethy Sells 500 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 500 shares of Peoples Bancorp of North Carolina stock in a transaction on Monday, June 1st. The shares were sold at an average price of $42.10, for a total transaction of $21,050.00. Following the completion of the sale, the director owned 35,900 shares in the company, valued at approximately $1,511,390. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Peoples Bancorp of North Carolina Stock Performance

NASDAQ:PEBK opened at $42.16 on Wednesday. The stock has a market cap of $230.19 million, a P/E ratio of 11.61 and a beta of 0.30. The firm’s fifty day simple moving average is $40.42 and its 200 day simple moving average is $37.68. Peoples Bancorp of North Carolina, Inc. has a twelve month low of $26.81 and a twelve month high of $43.31. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly 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 for 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 yield of 2.0%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 23.14%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in 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 purchased a new position in shares of Peoples Bancorp of North Carolina in the 3rd quarter worth about $45,000. BNP Paribas Financial Markets raised its position 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 during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter worth about $63,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Peoples Bancorp of North Carolina in the 4th quarter worth about $88,000. Hedge funds and other institutional investors own 43.83% of the company’s stock.

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.