Insider Selling: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $21,750.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $43.50, for a total transaction of $21,750.00. Following the completion of the sale, the director owned 34,900 shares of the company’s stock, valued at approximately $1,518,150. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Peoples Bancorp of North Carolina Price Performance

Shares of NASDAQ:PEBK opened at $44.14 on Friday. The company’s fifty day moving average is $43.33 and its two-hundred day moving average is $41.44. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina, Inc. has a 12-month low of $27.33 and a 12-month high of $45.78. The company has a market cap of $241.09 million, a P/E ratio of 12.13 and a beta of 0.29.

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

Peoples Bancorp of North Carolina Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be paid 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 is Thursday, September 3rd. Peoples Bancorp of North Carolina’s payout ratio is 23.08%.

Wall Street Analysts Forecast Growth

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 Tuesday, August 4th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Peoples Bancorp of North Carolina presently has a consensus rating of “Buy”.

Institutional Trading of Peoples Bancorp of North Carolina

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in Peoples Bancorp of North Carolina by 116.7% in the third quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock valued at $29,000 after purchasing an additional 502 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Peoples Bancorp of North Carolina during the 3rd quarter worth about $45,000. BNP Paribas Financial Markets lifted its holdings in shares of Peoples Bancorp of North Carolina by 28.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock valued at $49,000 after buying an additional 351 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Peoples Bancorp of North Carolina during the 2nd quarter valued at about $63,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Peoples Bancorp of North Carolina in the 4th quarter valued at approximately $88,000. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

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.