Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director 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 Tuesday, February 24th. The stock was sold at an average price of $38.16, for a total value of $22,896.00. Following the completion of the sale, the director owned 71,926 shares in the company, valued at $2,744,696.16. This represents a 0.83% 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

NASDAQ PEBK traded up $0.92 during trading on Wednesday, hitting $39.31. 25,605 shares of the stock traded hands, compared to its average volume of 19,495. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina, Inc. has a 12-month low of $23.74 and a 12-month high of $40.74. The firm has a 50-day simple moving average of $37.23 and a 200-day simple moving average of $33.31. The company has a market capitalization of $214.63 million, a P/E ratio of 10.86 and a beta of 0.34.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its earnings results on Monday, January 26th. The bank reported $1.21 EPS for the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.77% and a net margin of 17.30%.The firm had revenue of $24.99 million during the quarter.

Peoples Bancorp of North Carolina Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, March 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, March 4th. This is an increase from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. Peoples Bancorp of North Carolina’s dividend payout ratio is 22.10%.

Analysts Set New Price Targets

A number of brokerages recently commented on PEBK. Wall Street Zen raised shares of Peoples Bancorp of North Carolina to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings lowered Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in Peoples Bancorp of North Carolina by 116.7% in the third quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock worth $29,000 after purchasing an additional 502 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Peoples Bancorp of North Carolina in the second quarter worth approximately $29,000. Advisory Services Network LLC bought a new stake in shares of Peoples Bancorp of North Carolina during the 3rd quarter worth approximately $45,000. BNP Paribas Financial Markets boosted its holdings in Peoples Bancorp of North Carolina by 28.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock valued at $49,000 after acquiring an additional 351 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Peoples Bancorp of North Carolina in the 2nd quarter valued at $63,000. 43.83% of the stock is currently owned by institutional investors.

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.