Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director James Abernethy Sells 600 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $38.16, for a total value of $22,896.00. Following the sale, the director directly owned 71,926 shares in the company, valued at approximately $2,744,696.16. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Peoples Bancorp of North Carolina Stock Performance

PEBK stock traded up $0.26 during trading on Thursday, hitting $39.57. 9,673 shares of the company’s stock traded hands, compared to its average volume of 19,236. The stock has a market capitalization of $216.06 million, a price-to-earnings ratio of 10.93 and a beta of 0.34. Peoples Bancorp of North Carolina, Inc. has a 52 week low of $23.74 and a 52 week high of $40.74. The stock has a fifty day moving average price of $37.26 and a two-hundred day moving average price of $33.35. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.10.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.21 EPS for the quarter. The business had revenue of $24.99 million during the quarter. Peoples Bancorp of North Carolina had a net margin of 17.30% and a return on equity of 13.77%.

Peoples Bancorp of North Carolina Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, March 4th. This is a positive change from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. Peoples Bancorp of North Carolina’s payout ratio is currently 22.10%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PEBK. Dimensional Fund Advisors LP lifted its holdings in Peoples Bancorp of North Carolina by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 159,879 shares of the bank’s stock worth $5,788,000 after purchasing an additional 2,598 shares during the period. Fourthstone LLC lifted its stake in shares of Peoples Bancorp of North Carolina by 104.4% in the 4th 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. Geode Capital Management LLC boosted its holdings in shares of Peoples Bancorp of North Carolina by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 109,442 shares of the bank’s stock valued at $3,962,000 after acquiring an additional 886 shares in the last quarter. Maltese Capital Management LLC increased its stake in shares of Peoples Bancorp of North Carolina by 1.2% during the fourth quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank’s stock valued at $1,808,000 after acquiring an additional 612 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Peoples Bancorp of North Carolina by 7.1% during the first quarter. Empowered Funds LLC now owns 34,009 shares of the bank’s stock valued at $926,000 after acquiring an additional 2,244 shares during the period. 43.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PEBK shares. Weiss Ratings lowered Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Peoples Bancorp of North Carolina to a “hold” rating in a report on Saturday, December 20th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Peoples Bancorp of North Carolina presently has an average rating of “Hold”.

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.