Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director James Abernethy Sells 1,000 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $42.89, for a total transaction of $42,890.00. Following the sale, the director owned 67,626 shares in the company, valued at approximately $2,900,479.14. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Peoples Bancorp of North Carolina Stock Performance

Shares of PEBK stock opened at $43.00 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina, Inc. has a 52 week low of $26.81 and a 52 week high of $45.78. The stock has a market capitalization of $234.78 million, a PE ratio of 11.81 and a beta of 0.29. The firm has a 50 day moving average of $42.79 and a two-hundred day moving average of $40.24.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its quarterly earnings data on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. The business had revenue of $23.11 million for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.88% and a net margin of 17.25%.

Peoples Bancorp of North Carolina Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd were given 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 (DPR) is currently 23.08%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in Peoples Bancorp of North Carolina by 116.7% during the third quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock worth $29,000 after purchasing an additional 502 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Peoples Bancorp of North Carolina in the 3rd quarter valued at $45,000. BNP Paribas Financial Markets grew its position in shares of Peoples Bancorp of North Carolina by 28.1% in the 3rd 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in Peoples Bancorp of North Carolina during the 2nd quarter worth $63,000. Finally, MetLife Investment Management LLC acquired a new stake in Peoples Bancorp of North Carolina during the 4th quarter worth $88,000. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp of North Carolina in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average 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.