James Abernethy Sells 500 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $43.50, for a total transaction of $21,750.00. Following the sale, the director directly owned 34,900 shares of the company’s stock, valued at approximately $1,518,150. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Peoples Bancorp of North Carolina Trading Up 1.0%

PEBK stock traded up $0.43 during midday trading on Wednesday, reaching $43.63. The company’s stock had a trading volume of 16,000 shares, compared to its average volume of 31,256. The business’s 50-day simple moving average is $43.31 and its 200-day simple moving average is $41.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina, Inc. has a 52 week low of $27.33 and a 52 week high of $45.78. The stock has a market cap of $238.33 million, a PE ratio of 11.99 and a beta of 0.29.

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

Peoples Bancorp of North Carolina Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Peoples Bancorp of North Carolina currently has an average rating of “Buy”.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of hedge funds and other institutional investors have recently made changes to their positions in PEBK. Russell Investments Group Ltd. increased its position in shares of 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 valued at $29,000 after buying an additional 502 shares in the last quarter. Advisory Services Network LLC acquired a new position in Peoples Bancorp of North Carolina in the third quarter valued at about $45,000. BNP Paribas Financial Markets grew its stake in Peoples Bancorp of North Carolina by 28.1% in the third 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. Raymond James Financial Inc. bought a new stake in shares of Peoples Bancorp of North Carolina in the second quarter worth about $63,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Peoples Bancorp of North Carolina in the fourth quarter worth about $88,000. 43.83% of the stock is 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.