Robert Abernethy Sells 7,000 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy sold 7,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $43.61, for a total transaction of $305,270.00. Following the sale, the director owned 101,116 shares in the company, valued at $4,409,668.76. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Peoples Bancorp of North Carolina Stock Down 1.3%

PEBK opened at $43.31 on Friday. The stock has a market cap of $236.47 million, a price-to-earnings ratio of 11.90 and a beta of 0.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average is $43.30 and its 200 day moving average is $41.42. Peoples Bancorp of North Carolina, Inc. has a fifty-two week low of $27.33 and a fifty-two week high of $45.78.

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

Peoples Bancorp of North Carolina Dividend Announcement

The firm 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 dividend yield of 1.9%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 23.08%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several large investors have recently modified their holdings of PEBK. Empowered Funds LLC raised its holdings in Peoples Bancorp of North Carolina by 7.1% during the 1st quarter. Empowered Funds LLC now owns 34,009 shares of the bank’s stock valued at $926,000 after buying an additional 2,244 shares during the period. Geode Capital Management LLC increased its position in Peoples Bancorp of North Carolina by 0.5% during the second quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock valued at $3,157,000 after acquiring an additional 530 shares during the last quarter. First Trust Advisors LP increased its position in Peoples Bancorp of North Carolina by 15.1% during the second quarter. First Trust Advisors LP now owns 21,366 shares of the bank’s stock valued at $616,000 after acquiring an additional 2,809 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Peoples Bancorp of North Carolina in the second quarter valued at $63,000. Finally, Jane Street Group LLC bought a new stake in shares of Peoples Bancorp of North Carolina in the 2nd quarter worth about $212,000. Institutional investors own 43.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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