Ashton Abernethy Sells 950 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Ashton Abernethy sold 950 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $42.26, for a total transaction of $40,147.00. Following the transaction, the director owned 43,838 shares in the company, valued at $1,852,593.88. This represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Peoples Bancorp of North Carolina Price Performance

Shares of NASDAQ PEBK opened at $42.25 on Thursday. The firm’s 50-day moving average price is $40.16 and its 200-day moving average price is $37.42. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $26.81 and a 1-year high of $43.31. The firm has a market capitalization of $230.69 million, a P/E ratio of 11.64 and a beta of 0.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last announced its quarterly earnings data on Monday, April 20th. The bank reported $0.80 earnings per share for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.22% and a return on equity of 13.07%. The firm had revenue of $21.57 million for the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

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

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 351 shares during the last quarter. Russell Investments Group Ltd. grew its position in Peoples Bancorp of North Carolina by 116.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock worth $29,000 after purchasing an additional 502 shares in the last quarter. Geode Capital Management LLC grew its position in Peoples Bancorp of North Carolina by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock worth $3,157,000 after purchasing an additional 530 shares in the last quarter. Maltese Capital Management LLC grew its position in Peoples Bancorp of North Carolina by 1.2% in the 4th quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank’s stock worth $1,808,000 after purchasing an additional 612 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Peoples Bancorp of North Carolina by 21.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,684 shares of the bank’s stock worth $113,000 after purchasing an additional 662 shares in the last quarter. Institutional investors and hedge funds own 43.83% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Peoples Bancorp of North Carolina has a consensus rating of “Buy”.

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.