Peoples Bancorp of North Carolina (NASDAQ:PEBK) Issues Earnings Results

Peoples Bancorp of North Carolina (NASDAQ:PEBK) announced its earnings results on Monday. The bank reported $0.96 earnings per share for the quarter, Zacks reports. Peoples Bancorp of North Carolina had a return on equity of 13.07% and a net margin of 17.22%.The company had revenue of $23.11 million for the quarter.

Peoples Bancorp of North Carolina Stock Performance

Shares of PEBK stock opened at $42.74 on Tuesday. The company’s fifty day simple moving average is $42.41 and its 200-day simple moving average is $39.84. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina has a 52 week low of $26.81 and a 52 week high of $45.78. The company has a market cap of $233.36 million, a PE ratio of 11.77 and a beta of 0.29.

Peoples Bancorp of North Carolina Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, June 3rd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, June 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 23.14%.

Insider Transactions at Peoples Bancorp of North Carolina

In related news, Director Ashton V. Abernethy sold 950 shares of the firm’s 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 sale, the director directly owned 43,838 shares in the company, valued at approximately $1,852,593.88. This trade represents a 2.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert C. Abernethy, Jr. sold 1,200 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $41.61, for a total transaction of $49,932.00. Following the completion of the transaction, the director owned 55,058 shares of the company’s stock, valued at $2,290,963.38. This trade represents a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 4,450 shares of company stock valued at $182,895. Insiders own 14.50% of the company’s stock.

Institutional Trading of Peoples Bancorp of North Carolina

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fourthstone LLC raised its stake in shares of Peoples Bancorp of North Carolina by 104.4% during the fourth quarter. Fourthstone LLC now owns 154,533 shares of the bank’s stock valued at $5,594,000 after purchasing an additional 78,921 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Peoples Bancorp of North Carolina during the 4th quarter worth about $304,000. Jane Street Group LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the 2nd quarter worth approximately $212,000. AQR Capital Management LLC bought a new position in shares of Peoples Bancorp of North Carolina in the fourth quarter valued at approximately $249,000. Finally, Citadel Advisors LLC increased its stake in shares of Peoples Bancorp of North Carolina by 40.9% during the third quarter. Citadel Advisors LLC now owns 11,246 shares of the bank’s stock valued at $345,000 after acquiring an additional 3,262 shares during the period. Institutional investors own 43.83% of the company’s stock.

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 research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

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.