James Abernethy Sells 1,000 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $42.89, for a total value of $42,890.00. Following the completion of the transaction, the director directly owned 67,626 shares in the company, valued at approximately $2,900,479.14. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Peoples Bancorp of North Carolina Stock Down 0.4%

Shares of Peoples Bancorp of North Carolina stock traded down $0.18 on Thursday, hitting $43.16. 14,028 shares of the company’s stock traded hands, compared to its average volume of 29,853. The stock has a market cap of $235.65 million, a P/E ratio of 11.86 and a beta of 0.29. 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 firm’s 50-day moving average is $42.79 and its 200 day moving average is $40.19. Peoples Bancorp of North Carolina, Inc. has a 52-week low of $26.81 and a 52-week high of $45.78.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly earnings results on Monday, July 20th. The bank reported $0.96 earnings per share 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 12.88%.

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, June 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 23.08%.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

Several institutional investors and hedge funds have recently made changes to their positions in PEBK. Empowered Funds LLC boosted its holdings 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 period. Geode Capital Management LLC lifted its position in shares of Peoples Bancorp of North Carolina by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock worth $3,157,000 after buying an additional 530 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Peoples Bancorp of North Carolina by 15.1% in the 2nd quarter. First Trust Advisors LP now owns 21,366 shares of the bank’s stock valued at $616,000 after buying an additional 2,809 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter valued at about $63,000. Finally, Jane Street Group LLC bought a new stake in shares of Peoples Bancorp of North Carolina during the 2nd quarter valued at about $212,000. 43.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp of North Carolina in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock 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.