Insider Selling: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells 500 Shares of Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 500 shares of Peoples Bancorp of North Carolina stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $42.10, for a total value of $21,050.00. Following the completion of the sale, the director directly owned 35,900 shares in the company, valued at $1,511,390. This represents a 1.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Peoples Bancorp of North Carolina Price Performance

NASDAQ:PEBK traded up $0.65 during trading hours on Tuesday, hitting $42.16. The company’s stock had a trading volume of 38,140 shares, compared to its average volume of 27,130. Peoples Bancorp of North Carolina, Inc. has a 52-week low of $26.81 and a 52-week high of $43.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50-day moving average is $40.42 and its two-hundred day moving average is $37.68. The company has a market capitalization of $230.28 million, a PE ratio of 11.61 and a beta of 0.28.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its earnings results on Monday, April 20th. The bank reported $0.80 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 company had revenue of $21.57 million during the quarter.

Peoples Bancorp of North Carolina Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Peoples Bancorp of North Carolina by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank’s stock valued at $6,551,000 after buying an additional 7,404 shares in the last quarter. Fourthstone LLC increased its position in shares of Peoples Bancorp of North Carolina by 104.4% in the fourth quarter. Fourthstone LLC now owns 154,533 shares of the bank’s stock valued at $5,594,000 after buying an additional 78,921 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Peoples Bancorp of North Carolina by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 109,442 shares of the bank’s stock valued at $3,962,000 after buying an additional 886 shares in the last quarter. Maltese Capital Management LLC increased its position in shares of Peoples Bancorp of North Carolina by 1.2% in the fourth quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank’s stock valued at $1,808,000 after buying an additional 612 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Peoples Bancorp of North Carolina by 33.3% in the first quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock valued at $1,473,000 after buying an additional 9,407 shares in the last quarter. Hedge funds and other institutional investors own 43.83% of the company’s stock.

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 report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently 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.