Insider Selling: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $40,213.50 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy, Jr. sold 950 shares of Peoples Bancorp of North Carolina stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.33, for a total transaction of $40,213.50. Following the completion of the transaction, the director owned 58,766 shares of the company’s stock, valued at $2,487,564.78. This represents a 1.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Peoples Bancorp of North Carolina Stock Performance

Shares of NASDAQ:PEBK opened at $43.05 on Monday. Peoples Bancorp of North Carolina, Inc. has a 52 week low of $27.33 and a 52 week high of $45.78. The company’s 50 day moving average is $42.92 and its two-hundred day moving average is $40.52. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The company has a market cap of $235.05 million, a PE ratio of 11.83 and a beta of 0.29.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly earnings data on Monday, July 20th. The bank reported $0.96 earnings per share (EPS) for the quarter. The business had revenue of $23.11 million during the quarter. Peoples Bancorp of North Carolina had a net margin of 17.25% and a return on equity of 12.75%.

Peoples Bancorp of North Carolina Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd were paid a $0.21 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.0%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 23.08%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of institutional investors have recently modified their holdings of PEBK. BlackRock Inc. acquired a new stake in Peoples Bancorp of North Carolina during the 2nd quarter worth $17,249,000. Deutsche Bank AG purchased a new position in Peoples Bancorp of North Carolina during the 2nd quarter worth $230,000. Empowered Funds LLC increased its stake in Peoples Bancorp of North Carolina by 3.3% in the first quarter. Empowered Funds LLC now owns 35,324 shares of the bank’s stock valued at $1,383,000 after purchasing an additional 1,112 shares during the period. Renaissance Technologies LLC increased its stake in Peoples Bancorp of North Carolina by 33.3% in the first quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock valued at $1,473,000 after purchasing an additional 9,407 shares during the period. Finally, First Trust Advisors LP purchased a new stake in shares of Peoples Bancorp of North Carolina in the first quarter valued at about $236,000. 43.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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