Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Ashton Abernethy Sells 950 Shares of Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Ashton Abernethy sold 950 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $42.26, for a total value of $40,147.00. Following the completion of the transaction, the director owned 43,838 shares of the company’s stock, valued at approximately $1,852,593.88. This represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Peoples Bancorp of North Carolina Stock Up 0.4%

NASDAQ PEBK opened at $42.20 on Wednesday. The stock has a market cap of $230.50 million, a PE ratio of 11.63 and a beta of 0.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $40.08 and a two-hundred day moving average price of $37.33. Peoples Bancorp of North Carolina, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $43.31.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its earnings results on Monday, April 20th. The bank reported $0.80 EPS for the quarter. The company had revenue of $21.57 million during the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.07% and a net margin of 17.22%.

Peoples Bancorp of North Carolina Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, June 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio is 23.14%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in Peoples Bancorp of North Carolina by 116.7% during the third 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 shares of Peoples Bancorp of North Carolina in the 3rd quarter valued at $45,000. BNP Paribas Financial Markets boosted its position 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 worth $49,000 after acquiring an additional 351 shares during the period. Raymond James Financial Inc. acquired a new stake in Peoples Bancorp of North Carolina during the 2nd quarter worth about $63,000. Finally, MetLife Investment Management LLC acquired a new stake in Peoples Bancorp of North Carolina during the 4th quarter worth about $88,000. 43.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus 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.