Insider Selling: Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells 1,200 Shares of Stock

Key Points

• Director Robert Abernethy, Jr. sold 1,200 PEBK shares at an average price of $43.13, generating $51,756. Following the transaction, he retained 57,566 shares.
• Peoples Bancorp reported quarterly revenue of $23.11 million and earnings of $0.96 per share, while the stock closed at $43.20, down 1.1%.
• The company declared a quarterly dividend of $0.21 per share, equivalent to $0.84 annually and a 1.9% yield; the stock carries a consensus “Buy” rating.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director Robert Abernethy, Jr. sold 1,200 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $43.13, for a total value of $51,756.00. Following the completion of the sale, the director directly owned 57,566 shares of the company's stock, valued at approximately $2,482,821.58. This trade represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Peoples Bancorp of North Carolina Stock Down 1.1%

Shares of PEBK stock traded down $0.50 on Tuesday, reaching $43.20. 15,733 shares of the company's stock traded hands, compared to its average volume of 31,362. The company has a market capitalization of $235.87 million, a P/E ratio of 11.87 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a 12-month low of $27.33 and a 12-month high of $45.78. 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 business's 50 day moving average price is $43.33 and its two-hundred day moving average price is $41.32.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The bank reported $0.96 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.The firm had revenue of $23.11 million during the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The business 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 of this dividend is Thursday, September 3rd. Peoples Bancorp of North Carolina's dividend payout ratio is 23.08%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

A number of hedge funds and other institutional investors have recently made changes to their positions in PEBK. Russell Investments Group Ltd. lifted its holdings 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 valued at $29,000 after buying an additional 502 shares during the last quarter. Advisory Services Network LLC acquired a new position in Peoples Bancorp of North Carolina in the third quarter worth approximately $45,000. BNP Paribas Financial Markets raised its position in 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 acquiring an additional 351 shares in the last quarter. Raymond James Financial Inc. bought a new position in Peoples Bancorp of North Carolina during the second quarter valued at approximately $63,000. Finally, MetLife Investment Management LLC acquired a new stake in Peoples Bancorp of North Carolina in the fourth quarter valued at approximately $88,000. 43.83% of the stock is 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.

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