Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director James Abernethy Sells 600 Shares of Stock

Key Points

• Director James Abernethy sold 600 shares of Peoples Bancorp of North Carolina at an average price of $43.93, totaling $26,358 and reducing his ownership by 1.72% to 34,300 shares.
• PEBK shares rose 1.5% to $44.60, near the company’s 52-week high, while the bank reported quarterly EPS of $1.05 and revenue of $23.38 million.
• The company maintains a quarterly dividend of $0.21 per share, or $0.84 annualized, yielding approximately 1.9%; analysts maintain a “Strong Buy” consensus, and institutional investors own 43.83% of shares.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 600 shares of Peoples Bancorp of North Carolina stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $43.93, for a total transaction of $26,358.00. Following the sale, the director owned 34,300 shares of the company's stock, valued at approximately $1,506,799. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Peoples Bancorp of North Carolina Stock Up 1.5%

Shares of PEBK stock traded up $0.65 on Thursday, hitting $44.60. The stock had a trading volume of 58,863 shares, compared to its average volume of 30,331. The stock's 50 day moving average is $43.80 and its 200-day moving average is $41.34. 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 capitalization of $243.52 million, a price-to-earnings ratio of 11.09 and a beta of 0.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.86.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last announced its quarterly earnings data on Monday, October 19th. The bank reported $1.05 earnings per share for the quarter. The business had revenue of $23.38 million during the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.84% and a net margin of 18.93%.

Peoples Bancorp of North Carolina Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, September 3rd. Peoples Bancorp of North Carolina's payout ratio is currently 20.90%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Peoples Bancorp of North Carolina from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating. According to MarketBeat, the stock currently has a consensus rating of "Strong Buy".

Institutional Trading of Peoples Bancorp of North Carolina

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC increased its holdings in Peoples Bancorp of North Carolina by 3.3% in the 1st quarter. Empowered Funds LLC now owns 35,324 shares of the bank's stock worth $1,383,000 after acquiring an additional 1,112 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of Peoples Bancorp of North Carolina by 19.9% during the 1st quarter. Ritholtz Wealth Management now owns 7,136 shares of the bank's stock valued at $279,000 after purchasing an additional 1,184 shares during the period. GTS Securities LLC bought a new stake in shares of Peoples Bancorp of North Carolina during the 2nd quarter valued at $219,000. First Trust Advisors LP purchased a new position in shares of Peoples Bancorp of North Carolina during the 1st quarter valued at $236,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Peoples Bancorp of North Carolina by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank's stock valued at $6,551,000 after buying an additional 7,404 shares in the last quarter. Hedge funds and other institutional investors own 43.83% of the company's stock.

About Peoples Bancorp of North Carolina

Peoples Bancorp of North Carolina, Inc is the bank holding company for Peoples Bank, a community banking institution headquartered in Newton, North Carolina. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and nonprofit organizations.

Peoples Bank offers deposit products, including checking, savings, money market and certificate of deposit accounts, along with consumer, residential mortgage, commercial and real estate lending.

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