Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells 1,000 Shares of Company Stock

Key Points

• Director James Abernethy sold 1,000 PEBK shares at an average price of $43.79, reducing his direct holdings by 1.52% to 64,626 shares.
• Peoples Bancorp shares rose 1.5% to $44.60, near the company’s 52-week high of $45.78. The bank reported quarterly EPS of $1.05 on $23.38 million in revenue.
• The company pays a quarterly dividend of $0.21 per share, equivalent to an annualized $0.84 dividend and a 1.9% yield; analysts maintain a consensus “Strong Buy” rating.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $43.79, for a total transaction of $43,790.00. Following the completion of the sale, the director directly owned 64,626 shares of the company's stock, valued at $2,829,972.54. This trade represents a 1.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Peoples Bancorp of North Carolina Stock Up 1.5%

Shares of NASDAQ:PEBK traded up $0.65 during trading on Thursday, hitting $44.60. The company's stock had a trading volume of 58,863 shares, compared to its average volume of 30,331. Peoples Bancorp of North Carolina, Inc. has a fifty-two week low of $27.33 and a fifty-two week high of $45.78. The stock's 50-day moving average price is $43.80 and its two-hundred day moving average price is $41.34. 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 company has a market capitalization of $243.52 million, a PE ratio of 11.09 and a beta of 0.30.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released its earnings results on Monday, October 19th. The bank reported $1.05 EPS for the quarter. The company 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 Dividend Announcement

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

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of institutional investors have recently made changes to their positions in PEBK. GTS Securities LLC bought a new stake in Peoples Bancorp of North Carolina in the second quarter valued at about $219,000. First Trust Advisors LP acquired a new stake in shares of Peoples Bancorp of North Carolina during the 1st quarter worth approximately $236,000. Ritholtz Wealth Management grew 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 worth $279,000 after buying an additional 1,184 shares during the period. Hsbc Holdings PLC acquired a new stake in Peoples Bancorp of North Carolina during the 1st quarter worth $369,000. Finally, Empowered Funds LLC raised its holdings in shares of Peoples Bancorp of North Carolina by 3.3% during the first 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 during the period. 43.83% of the stock is currently owned by institutional investors.

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 note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Buy".

Peoples Bancorp of North Carolina Company Profile

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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