Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $42,910.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $42.91, for a total value of $42,910.00. Following the sale, the director directly owned 66,626 shares of the company’s stock, valued at $2,858,921.66. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Peoples Bancorp of North Carolina Stock Performance

Shares of Peoples Bancorp of North Carolina stock opened at $43.00 on Monday. The company has a market cap of $234.78 million, a PE ratio of 11.81 and a beta of 0.29. 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, Inc. has a 52 week low of $26.81 and a 52 week high of $45.78. The business has a 50 day moving average price of $42.81 and a 200-day moving average price of $40.29.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last announced its quarterly earnings results on Monday, July 20th. The bank reported $0.96 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.88% and a net margin of 17.25%.The business had revenue of $23.11 million during the quarter.

Peoples Bancorp of North Carolina Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, June 3rd were issued a $0.21 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 23.08%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp of North Carolina in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PEBK. Russell Investments Group Ltd. lifted its position 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 worth $29,000 after acquiring an additional 502 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Peoples Bancorp of North Carolina in the third quarter valued at $45,000. BNP Paribas Financial Markets grew its position 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Peoples Bancorp of North Carolina during the 2nd quarter valued at $63,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Peoples Bancorp of North Carolina during the 4th quarter valued at $88,000. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

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.