Robert Abernethy, Jr. Sells 1,200 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) 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 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 owned 55,058 shares of the company’s stock, valued at $2,290,963.38. This trade represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Peoples Bancorp of North Carolina Stock Performance

Peoples Bancorp of North Carolina stock 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 company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. Peoples Bancorp of North Carolina, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $43.31. The firm’s fifty 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 issued its quarterly earnings results on Monday, April 20th. The bank reported $0.80 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.07% and a net margin of 17.22%.The firm had revenue of $21.57 million during the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in shares of 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 purchasing an additional 502 shares during the period. Advisory Services Network LLC bought a new position in shares of Peoples Bancorp of North Carolina in the third quarter worth approximately $45,000. BNP Paribas Financial Markets increased its stake 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 worth $49,000 after buying an additional 351 shares during the period. Raymond James Financial Inc. bought a new stake in Peoples Bancorp of North Carolina during the 2nd quarter valued at $63,000. Finally, MetLife Investment Management LLC purchased a new stake in Peoples Bancorp of North Carolina during the 4th quarter valued at $88,000. 43.83% of the stock is 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.