Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $43,110.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 1,000 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $43.11, for a total value of $43,110.00. Following the sale, the director directly owned 65,626 shares in the company, valued at $2,829,136.86. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Peoples Bancorp of North Carolina Stock Performance

NASDAQ:PEBK opened at $43.80 on Monday. The company has a 50 day simple moving average of $43.31 and a two-hundred day simple moving average of $41.29. The company has a market cap of $239.15 million, a PE ratio of 12.03 and a beta of 0.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina, Inc. has a 12 month low of $27.33 and a 12 month high of $45.78.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last issued its quarterly earnings data on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.25% and a return on equity of 12.75%. The firm had revenue of $23.11 million for the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, September 3rd. This represents a $0.84 annualized dividend and a yield of 1.9%. Peoples Bancorp of North Carolina’s payout ratio is 23.08%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEBK. BNP Paribas Financial Markets grew 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 buying an additional 351 shares in the last quarter. Russell Investments Group Ltd. increased 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 acquiring an additional 502 shares during the last quarter. Geode Capital Management LLC increased its stake in Peoples Bancorp of North Carolina by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock worth $3,157,000 after acquiring an additional 530 shares during the last quarter. Maltese Capital Management LLC raised its holdings in shares of Peoples Bancorp of North Carolina by 1.2% during the 4th quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank’s stock worth $1,808,000 after acquiring an additional 612 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Peoples Bancorp of North Carolina by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,684 shares of the bank’s stock valued at $113,000 after acquiring an additional 662 shares during the last quarter. 43.83% of the stock is owned by hedge funds and other 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.