Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock: Insider James Abernethy Sells 600 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 600 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $43.93, for a total value of $26,358.00. Following the completion of the sale, the director owned 34,300 shares in the company, valued at $1,506,799. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Peoples Bancorp of North Carolina Price Performance

Shares of NASDAQ PEBK traded up $0.65 during mid-day trading on Thursday, hitting $44.60. 58,863 shares of the company’s stock traded hands, compared to its average volume of 30,331. The company’s 50-day moving average is $43.80 and its two-hundred day moving average is $41.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86. Peoples Bancorp of North Carolina, Inc. has a 1 year low of $27.33 and a 1 year high of $45.78. The company has a market capitalization of $243.52 million, a P/E ratio of 11.09 and a beta of 0.30.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly earnings results on Monday, October 19th. The bank reported $1.05 earnings per share for the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.84% and a net margin of 18.93%. The company had revenue of $23.38 million for the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Peoples Bancorp of North Carolina’s payout ratio is 20.90%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Peoples Bancorp of North Carolina by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank’s stock worth $6,551,000 after acquiring an additional 7,404 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Peoples Bancorp of North Carolina by 33.3% during the 1st quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock worth $1,473,000 after purchasing an additional 9,407 shares during the last quarter. Empowered Funds LLC lifted its stake in Peoples Bancorp of North Carolina by 3.3% in the 1st quarter. Empowered Funds LLC now owns 35,324 shares of the bank’s stock valued at $1,383,000 after buying an additional 1,112 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Peoples Bancorp of North Carolina in the 1st quarter worth about $369,000. Finally, Ritholtz Wealth Management increased its stake in Peoples Bancorp of North Carolina by 19.9% during the 1st quarter. Ritholtz Wealth Management now owns 7,136 shares of the bank’s stock worth $279,000 after buying an additional 1,184 shares in the last quarter. Institutional investors and hedge funds own 43.83% of the company’s stock.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc is the bank holding company for Peoples Bank, a community banking institution headquartered in Newton, North Carolina. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and nonprofit organizations.

Peoples Bank offers deposit products, including checking, savings, money market and certificate of deposit accounts, along with consumer, residential mortgage, commercial and real estate lending.