Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Ashton Abernethy Sells 950 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Ashton Abernethy sold 950 shares of Peoples Bancorp of North Carolina stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $42.26, for a total transaction of $40,147.00. Following the completion of the sale, the director owned 43,838 shares of the company’s stock, valued at $1,852,593.88. This trade represents a 2.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Peoples Bancorp of North Carolina Stock Performance

Peoples Bancorp of North Carolina stock traded up $0.15 during midday trading on Tuesday, hitting $42.20. The company’s stock had a trading volume of 31,589 shares, compared to its average volume of 26,943. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $26.81 and a 1-year high of $43.31. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50-day moving average price of $39.98 and a two-hundred day moving average price of $37.24. The company has a market cap of $230.41 million, a price-to-earnings ratio of 11.63 and a beta of 0.28.

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

Peoples Bancorp of North Carolina Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd will be paid a $0.21 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $0.84 annualized dividend and a yield of 2.0%. Peoples Bancorp of North Carolina’s payout ratio is 23.14%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Peoples Bancorp of North Carolina currently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position 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 buying an additional 502 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Peoples Bancorp of North Carolina in the 3rd quarter valued at approximately $45,000. BNP Paribas Financial Markets raised its position in shares of Peoples Bancorp of North Carolina by 28.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock valued at $49,000 after buying an additional 351 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter valued at approximately $63,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Peoples Bancorp of North Carolina in the 4th quarter valued at approximately $88,000. 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.