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

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $43.11, for a total value of $43,110.00. Following the completion of the sale, the director owned 65,626 shares of the company’s stock, valued at $2,829,136.86. The trade was a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Peoples Bancorp of North Carolina Stock Performance

NASDAQ:PEBK opened at $43.80 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.86. Peoples Bancorp of North Carolina, Inc. has a fifty-two week low of $27.33 and a fifty-two week high of $45.78. The firm has a market cap of $239.15 million, a PE ratio of 12.03 and a beta of 0.29. The business has a 50 day moving average price of $43.31 and a 200-day moving average price of $41.27.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its quarterly earnings results on Monday, July 20th. The bank reported $0.96 EPS for the quarter. The company 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, September 3rd. Peoples Bancorp of North Carolina’s payout ratio is currently 23.08%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in shares of Peoples Bancorp of North Carolina by 7.1% in 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 during the period. Geode Capital Management LLC grew 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 period. First Trust Advisors LP grew 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 period. Raymond James Financial Inc. bought a new position in Peoples Bancorp of North Carolina in the second quarter worth $63,000. Finally, Jane Street Group LLC bought a new position in Peoples Bancorp of North Carolina in the second quarter worth $212,000. Institutional investors 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.