Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Robert Abernethy, Jr. Sells 950 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy, Jr. sold 950 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.33, for a total value of $40,213.50. Following the completion of the sale, the director owned 58,766 shares of the company’s stock, valued at approximately $2,487,564.78. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Peoples Bancorp of North Carolina Stock Performance

Shares of Peoples Bancorp of North Carolina stock opened at $43.05 on Friday. Peoples Bancorp of North Carolina, Inc. has a one year low of $27.33 and a one year high of $45.78. The firm has a market capitalization of $235.05 million, a price-to-earnings ratio of 11.83 and a beta of 0.29. The business has a 50-day simple moving average of $42.92 and a 200 day simple moving average of $40.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85.

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. The business had revenue of $23.11 million for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.

Peoples Bancorp of North Carolina Dividend Announcement

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

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several large investors have recently added to or reduced their stakes in PEBK. Russell Investments Group Ltd. boosted its stake in 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 purchasing an additional 502 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the third quarter worth approximately $45,000. BNP Paribas Financial Markets lifted its holdings 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 position in shares of Peoples Bancorp of North Carolina in the second quarter valued at approximately $63,000. Finally, MetLife Investment Management LLC bought a new position in shares of Peoples Bancorp of North Carolina in the fourth quarter valued at approximately $88,000. Institutional investors own 43.83% of the company’s stock.

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.