Peoples Bancorp of North Carolina (NASDAQ:PEBK) Releases Earnings Results

Peoples Bancorp of North Carolina (NASDAQ:PEBK) posted its quarterly earnings data on Monday. The bank reported $1.05 earnings per share (EPS) for the quarter, FiscalAI reports. Peoples Bancorp of North Carolina had a return on equity of 13.84% and a net margin of 18.93%. The firm had revenue of $23.38 million for the quarter.

Peoples Bancorp of North Carolina Trading Down 0.8%

NASDAQ:PEBK opened at $43.53 on Wednesday. The firm has a market cap of $237.76 million, a PE ratio of 10.83 and a beta of 0.30. The stock has a fifty day moving average price of $43.92 and a 200 day moving average price of $42.69. Peoples Bancorp of North Carolina has a 12-month low of $27.33 and a 12-month high of $45.78. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10.

Peoples Bancorp of North Carolina Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, September 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is presently 20.90%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

Insider Buying and Selling

In other news, Director Robert C. Abernethy, Jr. sold 1,200 shares of Peoples Bancorp of North Carolina stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $43.13, for a total value of $51,756.00. Following the completion of the transaction, the director owned 57,566 shares in the company, valued at approximately $2,482,821.58. This trade represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert C. Abernethy sold 7,000 shares of Peoples Bancorp of North Carolina stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $43.61, for a total value of $305,270.00. Following the completion of the transaction, the director owned 101,116 shares of the company’s stock, valued at $4,409,668.76. The trade was a 6.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,397 shares of company stock valued at $796,889 in the last three months. 14.50% of the stock is owned by corporate insiders.

Institutional Trading of Peoples Bancorp of North Carolina

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in 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. Hsbc Holdings PLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the 1st quarter valued at approximately $369,000. Flywheel Private Wealth LLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the 1st quarter valued at approximately $305,000. Dimensional Fund Advisors LP increased its position in shares of Peoples Bancorp of North Carolina by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank’s stock valued at $6,551,000 after purchasing an additional 7,404 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Peoples Bancorp of North Carolina in the 1st quarter valued at $236,000. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc is the bank holding company for Peoples Bank, a community banking institution headquartered in Newton, North Carolina. Peoples Bank provides financial services to individuals, families, businesses and organizations through a network of banking offices and digital banking channels.

The bank’s products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial real estate and business loans, agricultural lending, online and mobile banking, treasury management and other related financial services.