Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Robert Abernethy Sells 5,247 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy sold 5,247 shares of Peoples Bancorp of North Carolina stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $43.34, for a total value of $227,404.98. Following the completion of the sale, the director owned 108,116 shares of the company’s stock, valued at approximately $4,685,747.44. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Peoples Bancorp of North Carolina Stock Performance

Peoples Bancorp of North Carolina stock opened at $43.04 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina, Inc. has a 1 year low of $26.81 and a 1 year high of $45.78. The company has a market cap of $235.00 million, a PE ratio of 11.82 and a beta of 0.29. The company’s 50-day moving average is $42.90 and its two-hundred day moving average is $40.47.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its quarterly earnings results on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.25% and a return on equity of 12.75%. The business had revenue of $23.11 million during the quarter.

Peoples Bancorp of North Carolina Announces Dividend

The firm also recently announced 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 dividend yield of 2.0%. Peoples Bancorp of North Carolina’s payout ratio is presently 23.08%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Institutional Trading of Peoples Bancorp of North Carolina

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Peoples Bancorp of North Carolina by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank’s stock worth $6,551,000 after purchasing an additional 7,404 shares in the last quarter. Fourthstone LLC increased its holdings 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 worth $5,594,000 after acquiring an additional 78,921 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Peoples Bancorp of North Carolina by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 109,442 shares of the bank’s stock worth $3,962,000 after acquiring an additional 886 shares in the last quarter. Maltese Capital Management LLC increased its holdings in shares of Peoples Bancorp of North Carolina by 1.2% in the fourth quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank’s stock worth $1,808,000 after acquiring an additional 612 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Peoples Bancorp of North Carolina by 33.3% during the first quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock worth $1,473,000 after purchasing an additional 9,407 shares during the period. 43.83% of the stock is currently owned by institutional investors and hedge funds.

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.