Insider Selling: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells 1,200 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy, Jr. sold 1,200 shares of Peoples Bancorp of North Carolina stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $43.13, for a total transaction of $51,756.00. Following the completion of the sale, the director directly owned 57,566 shares of the company’s stock, valued at approximately $2,482,821.58. The trade was a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Peoples Bancorp of North Carolina Stock Down 1.1%

NASDAQ:PEBK traded down $0.50 during trading hours on Tuesday, reaching $43.20. The company’s stock had a trading volume of 15,733 shares, compared to its average volume of 31,362. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $235.87 million, a price-to-earnings ratio of 11.87 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a one year low of $27.33 and a one year high of $45.78. The business’s 50-day moving average is $43.33 and its 200-day moving average is $41.32.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its earnings results on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.The company had revenue of $23.11 million for the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 23.08%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PEBK. Fourthstone LLC raised its holdings in Peoples Bancorp of North Carolina by 104.4% in the 4th quarter. Fourthstone LLC now owns 154,533 shares of the bank’s stock worth $5,594,000 after acquiring an additional 78,921 shares during the period. Renaissance Technologies LLC boosted its holdings in Peoples Bancorp of North Carolina by 33.3% during the first quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock valued at $1,473,000 after acquiring an additional 9,407 shares during the period. Hsbc Holdings PLC bought a new stake in Peoples Bancorp of North Carolina during the first quarter valued at about $369,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the fourth quarter valued at about $304,000. Finally, Flywheel Private Wealth LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the first quarter valued at about $305,000. 43.83% of the stock is currently owned by institutional investors and hedge funds.

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.