Robert Abernethy, Jr. Sells 1,200 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy, Jr. sold 1,200 shares of Peoples Bancorp of North Carolina stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $43.13, for a total transaction of $51,756.00. Following the completion of the sale, the director owned 57,566 shares of the company’s stock, valued at $2,482,821.58. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Peoples Bancorp of North Carolina Trading Up 1.6%

Shares of Peoples Bancorp of North Carolina stock opened at $43.88 on Thursday. The firm’s 50 day simple moving average is $43.31 and its two-hundred day simple moving average is $41.39. The firm has a market capitalization of $239.58 million, a price-to-earnings ratio of 12.05 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a 12-month low of $27.33 and a 12-month high of $45.78. 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 (NASDAQ:PEBK) last posted its quarterly earnings data on Monday, July 20th. The bank reported $0.96 EPS for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.25% and a return on equity of 12.75%. The business had revenue of $23.11 million during the quarter.

Peoples Bancorp of North Carolina Announces Dividend

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

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

Institutional investors have recently added to or reduced their stakes in the stock. Fourthstone LLC raised its position in Peoples Bancorp of North Carolina by 104.4% during the fourth quarter. Fourthstone LLC now owns 154,533 shares of the bank’s stock worth $5,594,000 after acquiring an additional 78,921 shares during the period. Renaissance Technologies LLC raised its position in shares of Peoples Bancorp of North Carolina by 33.3% during the 1st quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock worth $1,473,000 after purchasing an additional 9,407 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Peoples Bancorp of North Carolina in the 1st quarter valued at about $369,000. O Shaughnessy Asset Management LLC acquired a new stake in Peoples Bancorp of North Carolina in the 4th quarter worth about $304,000. Finally, Flywheel Private Wealth LLC purchased a new stake in Peoples Bancorp of North Carolina during the 1st quarter worth approximately $305,000. Institutional investors and hedge funds own 43.83% of the company’s stock.

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 equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently 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.