Peoples Bancorp of North Carolina (NASDAQ:PEBK) Issues Earnings Results

Peoples Bancorp of North Carolina (NASDAQ:PEBK) issued its quarterly earnings results on Monday. The bank reported $1.05 EPS for the quarter, FiscalAI reports. The company had revenue of $23.38 million for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.

Peoples Bancorp of North Carolina Stock Performance

Shares of PEBK traded up $0.10 during trading hours on Monday, reaching $44.42. 992 shares of the company traded hands, compared to its average volume of 29,745. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s fifty day moving average is $43.91 and its 200 day moving average is $42.63. Peoples Bancorp of North Carolina has a 1-year low of $27.33 and a 1-year high of $45.78. The stock has a market cap of $242.56 million, a P/E ratio of 12.20 and a beta of 0.30.

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 23.08%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Peoples Bancorp of North Carolina from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, Peoples Bancorp of North Carolina currently has an average rating of “Strong Buy”.

Insider Buying and Selling

In related news, Director Robert C. Abernethy sold 7,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $43.61, for a total transaction of $305,270.00. Following the transaction, the director directly owned 101,116 shares in the company, valued at $4,409,668.76. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Abernethy sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $43.11, for a total value of $43,110.00. Following the transaction, the director owned 65,626 shares in the company, valued at $2,829,136.86. This represents a 1.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,397 shares of company stock valued at $796,889 over the last three months. 14.50% of the stock is owned by corporate insiders.

Institutional Trading of Peoples Bancorp of North Carolina

A number of institutional investors and hedge funds have recently modified their holdings of PEBK. GTS Securities LLC acquired a new position in shares of Peoples Bancorp of North Carolina in the second quarter valued at $219,000. Empowered Funds LLC boosted its stake in Peoples Bancorp of North Carolina by 3.3% during the first quarter. Empowered Funds LLC now owns 35,324 shares of the bank’s stock worth $1,383,000 after buying an additional 1,112 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Peoples Bancorp of North Carolina by 33.3% in the 1st quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock valued at $1,473,000 after buying an additional 9,407 shares during the period. First Trust Advisors LP bought a new stake in Peoples Bancorp of North Carolina in the 1st quarter valued at $236,000. Finally, Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 7,404 shares during the period. 43.83% of the stock is currently owned by institutional investors.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc is the bank holding company for Peoples Bank, a community banking institution headquartered in Newton, North Carolina. Peoples Bank provides financial services to individuals, families, businesses and organizations through a network of banking offices and digital banking channels.

The bank’s products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial real estate and business loans, agricultural lending, online and mobile banking, treasury management and other related financial services.