Robert Abernethy Sells 5,247 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy sold 5,247 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $43.34, for a total transaction of $227,404.98. Following the sale, the director directly owned 108,116 shares in the company, valued at $4,685,747.44. The trade was a 4.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Peoples Bancorp of North Carolina Trading Up 0.0%

NASDAQ:PEBK opened at $43.05 on Friday. The company has a market cap of $235.05 million, a P/E ratio of 11.83 and a beta of 0.29. The stock’s fifty day moving average price is $42.92 and its two-hundred day moving average price is $40.49. 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 debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last announced its quarterly 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 during the quarter.

Peoples Bancorp of North Carolina Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd were paid a $0.21 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.84 annualized dividend and a yield of 2.0%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 23.08%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of 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 period. Advisory Services Network LLC bought a new stake in Peoples Bancorp of North Carolina during the third quarter valued at $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 period. Raymond James Financial Inc. purchased a new position in Peoples Bancorp of North Carolina during the second quarter worth about $63,000. Finally, MetLife Investment Management LLC purchased a new position in Peoples Bancorp of North Carolina during the fourth quarter worth about $88,000. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.