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

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $42.89, for a total value of $42,890.00. Following the completion of the transaction, the director directly owned 67,626 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Peoples Bancorp of North Carolina Price Performance

Shares of NASDAQ:PEBK 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. The company has a market capitalization of $234.78 million, a P/E ratio of 11.81 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a 52-week low of $26.81 and a 52-week high of $45.78. The stock’s fifty day simple moving average is $42.81 and its 200-day simple moving average is $40.26.

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

Peoples Bancorp of North Carolina Dividend Announcement

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

Analysts Set New Price Targets

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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Peoples Bancorp of North Carolina by 28.1% during the third quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock worth $49,000 after acquiring an additional 351 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Peoples Bancorp of North Carolina by 116.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock valued at $29,000 after purchasing an additional 502 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Peoples Bancorp of North Carolina by 0.5% in the 2nd 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 in the last quarter. Maltese Capital Management LLC grew its holdings in shares of Peoples Bancorp of North Carolina by 1.2% during the 4th quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank’s stock worth $1,808,000 after purchasing an additional 612 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Peoples Bancorp of North Carolina by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,684 shares of the bank’s stock worth $113,000 after purchasing an additional 662 shares during the period. Hedge funds and other institutional investors 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.