Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $49,932.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy, Jr. sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $41.61, for a total value of $49,932.00. Following the sale, the director directly owned 55,058 shares of the company’s stock, valued at $2,290,963.38. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Peoples Bancorp of North Carolina Trading Down 1.4%

PEBK stock traded down $0.59 during mid-day trading on Monday, reaching $41.51. The company had a trading volume of 37,040 shares, compared to its average volume of 27,024. 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 market capitalization of $226.64 million, a PE ratio of 11.44 and a beta of 0.30. The firm has a 50 day moving average of $40.35 and a 200 day moving average of $37.60. Peoples Bancorp of North Carolina, Inc. has a 12 month low of $26.81 and a 12 month high of $43.31.

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

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently announced 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. This represents a $0.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, June 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 23.14%.

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 research note on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PEBK. Empowered Funds LLC increased its stake 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 valued at $926,000 after purchasing an additional 2,244 shares in the last quarter. Geode Capital Management LLC increased its stake in Peoples Bancorp of North Carolina by 0.5% during 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. First Trust Advisors LP increased its stake in Peoples Bancorp of North Carolina by 15.1% during the 2nd 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. acquired a new position in Peoples Bancorp of North Carolina during the 2nd quarter valued at approximately $63,000. Finally, Jane Street Group LLC acquired a new position in Peoples Bancorp of North Carolina during the 2nd quarter valued at approximately $212,000. Institutional investors and hedge funds 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.