Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $24,120.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 600 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $40.20, for a total value of $24,120.00. Following the completion of the sale, the director owned 68,626 shares in the company, valued at approximately $2,758,765.20. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Peoples Bancorp of North Carolina Stock Up 0.9%

NASDAQ PEBK traded up $0.37 during trading on Thursday, reaching $40.27. 17,245 shares of the company’s stock were exchanged, compared to its average volume of 26,081. The company has a 50 day moving average price of $39.45 and a two-hundred day moving average price of $36.61. The stock has a market cap of $219.95 million, a P/E ratio of 11.09 and a beta of 0.28. Peoples Bancorp of North Carolina, Inc. has a 1 year low of $26.81 and a 1 year high of $42.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly earnings data on Monday, April 20th. The bank reported $0.80 EPS for the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.07% and a net margin of 17.22%.The business had revenue of $21.57 million for the quarter.

Peoples Bancorp of North Carolina Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This is an increase from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.1%. Peoples Bancorp of North Carolina’s dividend payout ratio is 23.14%.

Institutional Trading of Peoples Bancorp of North Carolina

Institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC grew its position in Peoples Bancorp of North Carolina by 7.1% during the 1st quarter. Empowered Funds LLC now owns 34,009 shares of the bank’s stock worth $926,000 after purchasing an additional 2,244 shares during the last quarter. Geode Capital Management LLC increased its stake 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 purchasing an additional 530 shares during the period. First Trust Advisors LP raised its holdings 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 valued at $616,000 after buying an additional 2,809 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Peoples Bancorp of North Carolina during the second quarter worth about $63,000. Finally, Jane Street Group LLC acquired a new stake in shares of Peoples Bancorp of North Carolina during the second quarter worth about $212,000. Hedge funds and other institutional investors own 43.83% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded 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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

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.