Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director James Abernethy Sells 500 Shares of Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $43.50, for a total value of $21,750.00. Following the completion of the transaction, the director directly owned 34,900 shares of the company’s stock, valued at approximately $1,518,150. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Peoples Bancorp of North Carolina Trading Up 1.6%

Shares of Peoples Bancorp of North Carolina stock opened at $43.88 on Thursday. The firm has a market capitalization of $239.58 million, a PE ratio of 12.05 and a beta of 0.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86. The company’s fifty day moving average price is $43.31 and its two-hundred day moving average price is $41.39. Peoples Bancorp of North Carolina, Inc. has a 52-week low of $27.33 and a 52-week high of $45.78.

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

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, September 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 23.08%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of institutional investors and hedge funds have recently bought and sold shares of PEBK. California State Teachers Retirement System increased its stake in shares of Peoples Bancorp of North Carolina by 1,014.9% in the second quarter. California State Teachers Retirement System now owns 2,542 shares of the bank’s stock valued at $110,000 after buying an additional 2,314 shares in the last quarter. GTS Securities LLC bought a new stake in Peoples Bancorp of North Carolina during the 2nd quarter worth about $219,000. Empowered Funds LLC increased its position in Peoples Bancorp of North Carolina by 3.3% in the 1st quarter. Empowered Funds LLC now owns 35,324 shares of the bank’s stock valued at $1,383,000 after acquiring an additional 1,112 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Peoples Bancorp of North Carolina by 33.3% in the first quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock worth $1,473,000 after acquiring an additional 9,407 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Peoples Bancorp of North Carolina in the first quarter worth about $236,000. Institutional investors and hedge funds own 43.83% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus 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.