Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $21,050.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $42.10, for a total value of $21,050.00. Following the completion of the sale, the director directly owned 35,900 shares in the company, valued at approximately $1,511,390. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Peoples Bancorp of North Carolina Stock Performance

NASDAQ PEBK opened at $42.06 on Friday. The company has a market cap of $229.73 million, a PE ratio of 11.59 and a beta of 0.30. The stock’s 50 day simple moving average is $40.65 and its 200-day simple moving average is $37.92. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $26.81 and a 1-year high of $43.31. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its earnings results on Monday, April 20th. The bank reported $0.80 earnings per share for the quarter. The business had revenue of $21.57 million for 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 company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, June 3rd will be given a $0.21 dividend. 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 (DPR) is 23.14%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Peoples Bancorp of North Carolina by 116.7% in the third quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock valued at $29,000 after purchasing an additional 502 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the third quarter valued at approximately $45,000. BNP Paribas Financial Markets increased its holdings in shares of 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 purchasing an additional 351 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Peoples Bancorp of North Carolina in the second quarter valued at approximately $63,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the fourth quarter valued at approximately $88,000. Hedge funds and other institutional investors own 43.83% of the company’s stock.

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 research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus 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.