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

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $42.10, for a total transaction of $21,050.00. Following the sale, the director owned 35,900 shares of the company’s stock, valued at approximately $1,511,390. The trade was a 1.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Peoples Bancorp of North Carolina Trading Down 2.4%

Shares of PEBK stock opened at $41.13 on Thursday. Peoples Bancorp of North Carolina, Inc. has a 12-month low of $26.81 and a 12-month high of $43.31. The firm has a market cap of $224.57 million, a P/E ratio of 11.33 and a beta of 0.30. 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 50 day moving average of $40.58 and a 200-day moving average of $37.84.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors 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 payout ratio is currently 23.14%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

Institutional Trading of Peoples Bancorp of North Carolina

Several hedge funds have recently added to or reduced their stakes in PEBK. Empowered Funds LLC lifted its stake in Peoples Bancorp of North Carolina by 7.1% in the first quarter. Empowered Funds LLC now owns 34,009 shares of the bank’s stock worth $926,000 after purchasing an additional 2,244 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 last quarter. First Trust Advisors LP lifted 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 worth $616,000 after purchasing an additional 2,809 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Peoples Bancorp of North Carolina in the second quarter worth $63,000. Finally, Jane Street Group LLC bought a new stake in Peoples Bancorp of North Carolina in the second quarter worth $212,000. 43.83% of the stock is owned by institutional investors.

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.