James Abernethy Sells 500 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James Abernethy sold 500 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $42.10, for a total value of $21,050.00. Following the completion of the sale, the director owned 35,900 shares of the company’s stock, valued at approximately $1,511,390. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Peoples Bancorp of North Carolina Stock Performance

NASDAQ PEBK traded up $0.65 on Tuesday, reaching $42.16. The stock had a trading volume of 38,140 shares, compared to its average volume of 27,130. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. Peoples Bancorp of North Carolina, Inc. has a 12-month low of $26.81 and a 12-month high of $43.31. The business’s 50-day moving average price is $40.42 and its 200 day moving average price is $37.68. The stock has a market cap of $230.28 million, a P/E ratio of 11.61 and a beta of 0.28.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last issued its quarterly earnings data on Monday, April 20th. The bank reported $0.80 earnings per share for the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.07% and a net margin of 17.22%.The company had revenue of $21.57 million during the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd will be paid a $0.21 dividend. The ex-dividend date is 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 payout ratio is currently 23.14%.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

Several large investors have recently modified their holdings of PEBK. Fourthstone LLC raised its stake in shares of Peoples Bancorp of North Carolina by 104.4% during the fourth quarter. Fourthstone LLC now owns 154,533 shares of the bank’s stock worth $5,594,000 after purchasing an additional 78,921 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Peoples Bancorp of North Carolina by 33.3% during the first quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock worth $1,473,000 after purchasing an additional 9,407 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Peoples Bancorp of North Carolina during the first quarter worth approximately $369,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Peoples Bancorp of North Carolina during the fourth quarter worth about $304,000. Finally, Flywheel Private Wealth LLC acquired a new position in shares of Peoples Bancorp of North Carolina during the first quarter worth about $305,000. Hedge funds and other institutional investors own 43.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently 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.