James Abernethy Sells 523 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 523 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $38.91, for a total value of $20,349.93. Following the completion of the transaction, the director owned 71,403 shares in the company, valued at $2,778,290.73. This trade represents a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Peoples Bancorp of North Carolina Trading Down 3.1%

NASDAQ:PEBK opened at $38.21 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $208.63 million, a P/E ratio of 10.56 and a beta of 0.34. The stock’s 50 day moving average price is $37.30 and its 200 day moving average price is $33.49. Peoples Bancorp of North Carolina, Inc. has a 52 week low of $23.74 and a 52 week high of $40.74.

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

Peoples Bancorp of North Carolina Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This is an increase from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.2%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 22.10%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its position in shares of Peoples Bancorp of North Carolina by 116.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock valued at $29,000 after acquiring an additional 502 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Peoples Bancorp of North Carolina during the second quarter valued at approximately $29,000. Advisory Services Network LLC acquired a new stake in Peoples Bancorp of North Carolina during the third quarter valued at approximately $45,000. BNP Paribas Financial Markets grew its stake 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 valued at $49,000 after purchasing an additional 351 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter worth approximately $63,000. Institutional investors and hedge funds own 43.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PEBK. Weiss Ratings lowered Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Wall Street Zen raised shares of Peoples Bancorp of North Carolina to a “hold” rating in a research report on Saturday, December 20th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.