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

Peoples Bancorp of North Carolina (NASDAQ:PEBK) posted its earnings results on Monday. The bank reported $0.96 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $23.11 million during the quarter. Peoples Bancorp of North Carolina had a net margin of 17.25% and a return on equity of 12.88%.

Peoples Bancorp of North Carolina Stock Down 0.2%

PEBK opened at $42.67 on Wednesday. Peoples Bancorp of North Carolina has a fifty-two week low of $26.81 and a fifty-two week high of $45.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $232.98 million, a P/E ratio of 11.72 and a beta of 0.29. The stock has a fifty day moving average of $42.47 and a 200-day moving average of $39.89.

Peoples Bancorp of North Carolina Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.84 annualized dividend and a yield of 2.0%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is presently 23.08%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Insider Transactions at Peoples Bancorp of North Carolina

In related news, Director Robert C. Abernethy, Jr. sold 1,200 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.61, for a total value of $49,932.00. Following the transaction, the director directly owned 55,058 shares in the company, valued at approximately $2,290,963.38. This represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ashton V. Abernethy sold 950 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $42.26, for a total transaction of $40,147.00. Following the transaction, the director directly owned 43,838 shares in the company, valued at approximately $1,852,593.88. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 4,450 shares of company stock valued at $182,895. 14.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PEBK. AQR Capital Management LLC bought a new position in shares of Peoples Bancorp of North Carolina during the fourth quarter worth approximately $249,000. Fourthstone LLC boosted its stake in shares of Peoples Bancorp of North Carolina by 104.4% in the fourth quarter. Fourthstone LLC now owns 154,533 shares of the bank’s stock valued at $5,594,000 after buying an additional 78,921 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Peoples Bancorp of North Carolina by 46.3% in the fourth quarter. Wells Fargo & Company MN now owns 4,725 shares of the bank’s stock valued at $171,000 after buying an additional 1,495 shares during the period. MetLife Investment Management LLC acquired a new stake in Peoples Bancorp of North Carolina during the fourth quarter worth approximately $88,000. Finally, Dimensional Fund Advisors LP grew its position in Peoples Bancorp of North Carolina by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 159,879 shares of the bank’s stock worth $5,788,000 after buying an additional 2,598 shares in the last quarter. Institutional investors and hedge funds own 43.83% of the company’s stock.

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.