Insider Selling: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $305,270.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $43.61, for a total transaction of $305,270.00. Following the transaction, the director owned 101,116 shares of the company’s stock, valued at approximately $4,409,668.76. The trade was a 6.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Peoples Bancorp of North Carolina Stock Up 1.9%

Shares of NASDAQ PEBK opened at $44.14 on Friday. The company has a market capitalization of $241.09 million, a P/E ratio of 12.13 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a 52-week low of $27.33 and a 52-week high of $45.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50 day moving average price is $43.33 and its 200-day moving average price is $41.44.

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

Institutional Trading of Peoples Bancorp of North Carolina

Several hedge funds have recently modified their holdings of PEBK. Empowered Funds LLC lifted its position in shares of 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 valued at $926,000 after acquiring an additional 2,244 shares during the period. Geode Capital Management LLC grew its holdings 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 worth $3,157,000 after purchasing an additional 530 shares during the period. First Trust Advisors LP increased its stake in 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 purchasing an additional 2,809 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Peoples Bancorp of North Carolina in the second quarter valued at $63,000. Finally, Jane Street Group LLC acquired a new position in shares of Peoples Bancorp of North Carolina during the second quarter valued at about $212,000. Institutional investors own 43.83% of the company’s stock.

Analyst Ratings Changes

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