Insider Selling: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $305,270.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy sold 7,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $43.61, for a total transaction of $305,270.00. Following the sale, the director directly owned 101,116 shares of the company’s stock, valued at $4,409,668.76. The trade was a 6.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Peoples Bancorp of North Carolina Price Performance

NASDAQ PEBK traded up $0.68 during trading hours on Wednesday, hitting $43.88. 33,723 shares of the company’s stock traded hands, compared to its average volume of 31,376. Peoples Bancorp of North Carolina, Inc. has a 52-week low of $27.33 and a 52-week high of $45.78. The company has a market capitalization of $239.67 million, a PE ratio of 12.05 and a beta of 0.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50-day moving average is $43.31 and its 200-day moving average is $41.35.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its 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 for 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is presently 23.08%.

Wall Street Analyst Weigh In

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 analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Peoples Bancorp of North Carolina by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank’s stock valued at $6,551,000 after acquiring an additional 7,404 shares during the period. Fourthstone LLC increased its holdings in Peoples Bancorp of North Carolina by 104.4% in the 4th 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 during the last quarter. Geode Capital Management LLC raised its position in Peoples Bancorp of North Carolina by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 109,442 shares of the bank’s stock valued at $3,962,000 after purchasing an additional 886 shares during the period. Maltese Capital Management LLC grew its stake in shares of Peoples Bancorp of North Carolina by 1.2% in the fourth quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank’s stock valued at $1,808,000 after buying an additional 612 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Peoples Bancorp of North Carolina by 33.3% during the 1st quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock worth $1,473,000 after acquiring an additional 9,407 shares in the last quarter. Institutional investors and hedge funds own 43.83% of the company’s stock.

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.