Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $24,120.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $40.20, for a total transaction of $24,120.00. Following the completion of the sale, the director owned 68,626 shares of the company’s stock, valued at approximately $2,758,765.20. The trade was a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Peoples Bancorp of North Carolina Price Performance

Peoples Bancorp of North Carolina stock opened at $39.91 on Friday. Peoples Bancorp of North Carolina, Inc. has a 1 year low of $26.81 and a 1 year high of $42.63. The firm has a 50 day moving average price of $39.52 and a 200 day moving average price of $36.70. The company has a market cap of $217.91 million, a price-to-earnings ratio of 10.99 and a beta of 0.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its earnings results on Monday, April 20th. The bank reported $0.80 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.22% and a return on equity of 13.07%. The firm had revenue of $21.57 million during the quarter.

Peoples Bancorp of North Carolina Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, March 4th were issued a $0.21 dividend. The ex-dividend date was Wednesday, March 4th. This is a positive change from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.1%. Peoples Bancorp of North Carolina’s payout ratio is presently 23.14%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in shares of Peoples Bancorp of North Carolina by 116.7% during 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 in the last quarter. Advisory Services Network LLC acquired a new position in shares of Peoples Bancorp of North Carolina during the third quarter worth $45,000. BNP Paribas Financial Markets lifted its position in shares of 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 worth $49,000 after purchasing an additional 351 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Peoples Bancorp of North Carolina during the second quarter worth $63,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Peoples Bancorp of North Carolina during the fourth quarter worth $88,000. 43.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.