Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Robert Abernethy Jr Sells 1,200 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy, Jr. sold 1,200 shares of Peoples Bancorp of North Carolina stock in a transaction on Monday, June 1st. The shares were sold at an average price of $41.61, for a total transaction of $49,932.00. Following the completion of the sale, the director owned 55,058 shares in the company, valued at approximately $2,290,963.38. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Peoples Bancorp of North Carolina Price Performance

NASDAQ PEBK traded down $0.59 on Monday, reaching $41.51. The company had a trading volume of 37,040 shares, compared to its average volume of 27,024. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $226.64 million, a PE ratio of 11.44 and a beta of 0.30. The firm’s 50 day moving average price is $40.35 and its 200 day moving average price is $37.60. Peoples Bancorp of North Carolina, Inc. has a 12 month low of $26.81 and a 12 month high of $43.31.

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

Peoples Bancorp of North Carolina Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, June 3rd. Peoples Bancorp of North Carolina’s payout ratio is currently 23.14%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake 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 worth $49,000 after purchasing an additional 351 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of 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 worth $29,000 after purchasing an additional 502 shares during the period. Geode Capital Management LLC lifted its stake in shares of Peoples Bancorp of North Carolina by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock worth $3,157,000 after acquiring an additional 530 shares during the last quarter. Maltese Capital Management LLC lifted its stake in shares of Peoples Bancorp of North Carolina by 1.2% during the 4th quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank’s stock worth $1,808,000 after acquiring an additional 612 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Peoples Bancorp of North Carolina by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,684 shares of the bank’s stock worth $113,000 after acquiring an additional 662 shares during the last quarter. 43.83% of the stock is owned by hedge funds and other institutional investors.

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 note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus 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.