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

Peoples Bancorp of North Carolina (NASDAQ:PEBK) issued its earnings results on Monday. The bank reported $0.96 earnings per share for the quarter, Zacks reports. Peoples Bancorp of North Carolina had a return on equity of 13.07% and a net margin of 17.22%.

Peoples Bancorp of North Carolina Price Performance

Shares of NASDAQ:PEBK opened at $42.23 on Monday. The company has a 50 day moving average of $42.36 and a 200 day moving average of $39.80. The stock has a market cap of $230.58 million, a P/E ratio of 11.72 and a beta of 0.29. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina has a 12 month low of $26.81 and a 12 month high of $45.78.

Peoples Bancorp of North Carolina Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, June 3rd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.84 annualized dividend and a yield of 2.0%. Peoples Bancorp of North Carolina’s payout ratio is currently 23.14%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Peoples Bancorp of North Carolina

In other news, Director Ashton V. Abernethy sold 950 shares of Peoples Bancorp of North Carolina stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $42.26, for a total transaction of $40,147.00. Following the completion of the sale, the director directly owned 43,838 shares of the company’s stock, valued at approximately $1,852,593.88. The trade was a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert C. Abernethy, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.61, for a total value of $49,932.00. Following the sale, the director owned 55,058 shares in the company, valued at $2,290,963.38. The trade was a 2.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,450 shares of company stock valued at $182,895 in 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 have recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in Peoples Bancorp of North Carolina by 116.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock valued at $29,000 after purchasing an additional 502 shares during the period. Advisory Services Network LLC purchased a new position in shares of Peoples Bancorp of North Carolina in the 3rd quarter valued at approximately $45,000. BNP Paribas Financial Markets boosted its position in shares of Peoples Bancorp of North Carolina by 28.1% during the third quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock valued at $49,000 after purchasing an additional 351 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Peoples Bancorp of North Carolina in the second quarter worth $63,000. Finally, MetLife Investment Management LLC bought a new position in Peoples Bancorp of North Carolina in the fourth quarter worth $88,000. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

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.