Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director James Abernethy Sells 523 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 523 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $38.91, for a total value of $20,349.93. Following the sale, the director directly owned 71,403 shares in the company, valued at approximately $2,778,290.73. This represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Peoples Bancorp of North Carolina Stock Down 3.1%

PEBK stock traded down $1.24 during trading hours on Friday, reaching $38.21. 20,763 shares of the stock were exchanged, compared to its average volume of 26,057. The company has a market cap of $208.63 million, a price-to-earnings ratio of 10.56 and a beta of 0.34. The firm’s 50-day moving average is $37.30 and its 200-day moving average is $33.46. Peoples Bancorp of North Carolina, Inc. has a 12 month low of $23.74 and a 12 month high of $40.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.84 and a quick ratio of 0.84.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its earnings results on Monday, January 26th. The bank reported $1.21 earnings per share 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders 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 yield of 2.2%. This is a boost from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, March 4th. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is presently 22.10%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in 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 worth $29,000 after acquiring an additional 502 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Peoples Bancorp of North Carolina during the second quarter valued at $29,000. Advisory Services Network LLC acquired a new stake in Peoples Bancorp of North Carolina during the 3rd quarter valued at $45,000. BNP Paribas Financial Markets increased its stake 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 buying an additional 351 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Peoples Bancorp of North Carolina during the second quarter worth $63,000. 43.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings downgraded Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Wall Street Zen raised Peoples Bancorp of North Carolina to a “hold” rating in a research report on Saturday, December 20th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock 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.