Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Purchases $21,880.00 in Stock

Key Points

• Director Douglas Howard purchased 500 PEBK shares at an average price of $43.76, investing $21,880 and increasing his direct ownership by 2.11% to 24,227 shares.
• Peoples Bancorp reported quarterly EPS of $1.05 on $23.38 million in revenue, with an 18.93% net margin and 13.84% return on equity.
• The company pays a quarterly dividend of $0.21, or $0.84 annually, representing a 1.9% yield; the stock has a consensus “Strong Buy” rating from analysts.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director Douglas Howard bought 500 shares of the firm's stock in a transaction on Wednesday, October 28th. The shares were bought at an average cost of $43.76 per share, with a total value of $21,880.00. Following the transaction, the director directly owned 24,227 shares of the company's stock, valued at approximately $1,060,173.52. This trade represents a 2.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Peoples Bancorp of North Carolina Price Performance

PEBK traded down $0.57 during midday trading on Friday, reaching $44.03. 25,890 shares of the company's stock were exchanged, compared to its average volume of 30,310. The firm has a market capitalization of $240.49 million, a price-to-earnings ratio of 10.95 and a beta of 0.30. 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 has a 50-day simple moving average of $43.82 and a two-hundred day simple moving average of $41.38. Peoples Bancorp of North Carolina, Inc. has a one year low of $27.33 and a one year high of $45.78.

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

Peoples Bancorp of North Carolina Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Large investors have recently modified their holdings of the stock. GTS Securities LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the second quarter valued at approximately $219,000. Empowered Funds LLC lifted its holdings in Peoples Bancorp of North Carolina by 3.3% during the 1st quarter. Empowered Funds LLC now owns 35,324 shares of the bank's stock worth $1,383,000 after buying an additional 1,112 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Peoples Bancorp of North Carolina by 33.3% during the 1st quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank's stock worth $1,473,000 after buying an additional 9,407 shares in the last quarter. First Trust Advisors LP bought a new position in Peoples Bancorp of North Carolina in the 1st quarter valued at $236,000. Finally, Dimensional Fund Advisors LP boosted its position in Peoples Bancorp of North Carolina by 4.6% in 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 during the last quarter. 43.83% of the stock is currently owned by institutional investors and hedge funds.

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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