Robert Abernethy, Jr. Sells 950 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy, Jr. sold 950 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.33, for a total transaction of $40,213.50. Following the completion of the sale, the director owned 58,766 shares in the company, valued at $2,487,564.78. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Peoples Bancorp of North Carolina Stock Performance

NASDAQ:PEBK opened at $43.05 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $42.92 and a two-hundred day moving average price of $40.49. Peoples Bancorp of North Carolina, Inc. has a twelve month low of $27.33 and a twelve month high of $45.78. The company has a market capitalization of $235.05 million, a P/E ratio of 11.83 and a beta of 0.29.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last announced its earnings results on Monday, July 20th. The bank reported $0.96 earnings per share (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 company had revenue of $23.11 million during the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, June 3rd were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.0%. Peoples Bancorp of North Carolina’s dividend payout ratio is presently 23.08%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its stake in Peoples Bancorp of North Carolina by 116.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock worth $29,000 after buying an additional 502 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Peoples Bancorp of North Carolina during the 2nd quarter valued at about $230,000. BlackRock Inc. purchased a new position in shares of Peoples Bancorp of North Carolina during the 2nd quarter worth about $17,249,000. First Trust Advisors LP purchased a new position in shares of Peoples Bancorp of North Carolina during the 1st quarter worth about $236,000. Finally, Renaissance Technologies LLC boosted its position in shares of Peoples Bancorp of North Carolina by 33.3% in the first quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock worth $1,473,000 after acquiring an additional 9,407 shares during the last quarter. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company 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.