Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director James Abernethy Sells 523 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 523 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $38.91, for a total transaction of $20,349.93. Following the sale, the director directly owned 71,403 shares of the company’s stock, valued at approximately $2,778,290.73. The trade was a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Peoples Bancorp of North Carolina Stock Performance

Shares of NASDAQ:PEBK traded down $1.24 during midday trading on Friday, hitting $38.21. The company had a trading volume of 20,763 shares, compared to its average volume of 19,394. Peoples Bancorp of North Carolina, Inc. has a 12-month low of $23.74 and a 12-month high of $40.74. The company has a fifty day moving average of $37.29 and a two-hundred day moving average of $33.39. The company has a market cap of $208.59 million, a price-to-earnings ratio of 10.56 and a beta of 0.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.84 and a quick ratio of 0.84.

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

Peoples Bancorp of North Carolina Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, March 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.84 annualized dividend and a yield of 2.2%. This is a positive change from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. Peoples Bancorp of North Carolina’s payout ratio is currently 23.20%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Peoples Bancorp of North Carolina to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings downgraded Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Peoples Bancorp of North Carolina presently has an average rating of “Hold”.

Institutional Trading of Peoples Bancorp of North Carolina

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

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.