Insider Buying: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Acquires $17,200.00 in Stock

Key Points

• Director Billy Dr Price Jr. purchased 400 shares of Peoples Bancorp of North Carolina at $43.00 each, investing $17,200 and increasing his direct ownership by 2.69% to 15,244 shares.
• PEBK shares recently traded at $43.81, near their 52-week high of $45.78. The bank reported quarterly EPS of $0.96 on $23.11 million in revenue and maintains a 1.9% dividend yield.
• Institutional ownership stands at 43.83%, with BlackRock holding a recently acquired stake valued at approximately $17.25 million. Weiss Ratings upgraded the stock to “buy (b+),” while MarketBeat reports an overall “Buy” rating.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director Billy Dr Price, Jr. acquired 400 shares of the stock in a transaction on Thursday, August 27th. The shares were purchased at an average price of $43.00 per share, for a total transaction of $17,200.00. Following the transaction, the director directly owned 15,244 shares in the company, valued at approximately $655,492. This trade represents a 2.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Peoples Bancorp of North Carolina Stock Performance

Shares of Peoples Bancorp of North Carolina stock traded up $0.47 during trading on Friday, reaching $43.81. The company's stock had a trading volume of 14,257 shares, compared to its average volume of 31,519. 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 business's 50-day moving average price is $43.28 and its 200-day moving average price is $41.25. Peoples Bancorp of North Carolina, Inc. has a 52 week low of $27.33 and a 52 week high of $45.78. The firm has a market cap of $239.20 million, a PE ratio of 12.04 and a beta of 0.29.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The bank reported $0.96 EPS for the quarter. The business had revenue of $23.11 million for 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 Announces Dividend

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

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in Peoples Bancorp of North Carolina by 1,014.9% during the second quarter. California State Teachers Retirement System now owns 2,542 shares of the bank's stock valued at $110,000 after purchasing an additional 2,314 shares in the last quarter. GTS Securities LLC bought a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter valued at $219,000. Empowered Funds LLC bought a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter valued at $527,000. Bank of America Corp DE acquired a new position in shares of Peoples Bancorp of North Carolina during the 2nd quarter worth $602,000. Finally, BlackRock Inc. bought a new stake in shares of Peoples Bancorp of North Carolina during the 2nd quarter worth $17,249,000. 43.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings raised Peoples Bancorp of North Carolina from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company 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.

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