Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Robert Abernethy Sells 7,000 Shares

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Robert Abernethy sold 7,000 shares of Peoples Bancorp of North Carolina stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $43.61, for a total transaction of $305,270.00. Following the completion of the sale, the director owned 101,116 shares of the company’s stock, valued at $4,409,668.76. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Peoples Bancorp of North Carolina Stock Up 1.6%

PEBK opened at $43.88 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $43.31 and a 200-day moving average price of $41.39. Peoples Bancorp of North Carolina, Inc. has a twelve month low of $27.33 and a twelve month high of $45.78. The stock has a market capitalization of $239.58 million, a price-to-earnings ratio of 12.05 and a beta of 0.29.

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

Peoples Bancorp of North Carolina Dividend Announcement

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

Analysts Set New Price Targets

Separately, Weiss Ratings raised Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its stake in shares of Peoples Bancorp of North Carolina by 7.1% during the 1st quarter. Empowered Funds LLC now owns 34,009 shares of the bank’s stock worth $926,000 after acquiring an additional 2,244 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Peoples Bancorp of North Carolina by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock worth $3,157,000 after purchasing an additional 530 shares in the last quarter. First Trust Advisors LP raised its holdings in Peoples Bancorp of North Carolina by 15.1% in the 2nd quarter. First Trust Advisors LP now owns 21,366 shares of the bank’s stock worth $616,000 after purchasing an additional 2,809 shares during the period. Raymond James Financial Inc. bought a new position in Peoples Bancorp of North Carolina in the 2nd quarter worth $63,000. Finally, Jane Street Group LLC purchased a new position in Peoples Bancorp of North Carolina during the second quarter valued at $212,000. 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 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.