Insider Selling: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $51,756.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy, Jr. sold 1,200 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $43.13, for a total transaction of $51,756.00. Following the completion of the sale, the director directly owned 57,566 shares in the company, valued at $2,482,821.58. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Peoples Bancorp of North Carolina Stock Down 1.3%

NASDAQ:PEBK opened at $43.31 on Friday. The firm has a market capitalization of $236.47 million, a P/E ratio of 11.90 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $27.33 and a 1-year high of $45.78. The company’s fifty day moving average price is $43.30 and its 200-day moving average price is $41.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is presently 23.08%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in 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 worth $926,000 after buying an additional 2,244 shares in the last quarter. Geode Capital Management LLC increased its holdings in Peoples Bancorp of North Carolina by 0.5% in the second quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock valued at $3,157,000 after buying an additional 530 shares in the last quarter. First Trust Advisors LP raised its position in shares of Peoples Bancorp of North Carolina by 15.1% in the second quarter. First Trust Advisors LP now owns 21,366 shares of the bank’s stock worth $616,000 after acquiring an additional 2,809 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Peoples Bancorp of North Carolina in the second quarter worth about $63,000. Finally, Jane Street Group LLC purchased a new stake in shares of Peoples Bancorp of North Carolina during the 2nd quarter worth about $212,000. 43.83% of the stock is owned by hedge funds and other institutional investors.

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 note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, 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.