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

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 1,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $38.34, for a total transaction of $38,340.00. Following the transaction, the director directly owned 72,526 shares of the company’s stock, valued at approximately $2,780,646.84. This represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Peoples Bancorp of North Carolina Stock Performance

Shares of NASDAQ:PEBK remained flat at $38.61 during trading on Monday. The stock had a trading volume of 15,149 shares, compared to its average volume of 19,617. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.84 and a current ratio of 0.84. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $23.74 and a 1-year high of $39.46. The company has a 50-day moving average price of $36.21 and a 200-day moving average price of $32.43. The firm has a market capitalization of $210.81 million, a price-to-earnings ratio of 10.67 and a beta of 0.34.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly earnings results on Monday, January 26th. The bank reported $1.21 earnings per share for the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.77% and a net margin of 17.30%.The firm had revenue of $24.99 million during the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, February 4th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a dividend yield of 46.0%. Peoples Bancorp of North Carolina’s payout ratio is 22.10%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PEBK shares. Wall Street Zen raised shares of Peoples Bancorp of North Carolina to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings raised Peoples Bancorp of North Carolina from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of institutional investors and hedge funds have recently bought and sold shares of PEBK. Empowered Funds LLC increased its position in Peoples Bancorp of North Carolina by 7.1% in the first quarter. Empowered Funds LLC now owns 34,009 shares of the bank’s stock worth $926,000 after purchasing an additional 2,244 shares during the period. Los Angeles Capital Management LLC raised its stake in Peoples Bancorp of North Carolina by 14.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 9,425 shares of the bank’s stock worth $272,000 after buying an additional 1,190 shares during the period. Geode Capital Management LLC increased its holdings in shares of 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. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter valued at approximately $29,000. Finally, First Trust Advisors LP boosted its holdings in shares of 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 buying an additional 2,809 shares during the period. 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.