Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $21,750.00 in Stock

Key Points

• Director James Abernethy sold 500 shares of Peoples Bancorp of North Carolina at $43.50 each, generating $21,750 and reducing his holdings by 1.41% to 34,900 shares.
• Peoples Bancorp reported quarterly EPS of $0.96 on $23.11 million in revenue, with a 17.25% net margin and 12.75% return on equity.
• The company declared a quarterly dividend of $0.21 per share, equivalent to $0.84 annually and a 1.9% yield; the stock carries an average “Buy” rating and institutional investors own 43.83% of shares.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 500 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $43.50, for a total transaction of $21,750.00. Following the sale, the director owned 34,900 shares of the company's stock, valued at $1,518,150. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Peoples Bancorp of North Carolina Price Performance

NASDAQ:PEBK traded up $0.43 on Wednesday, reaching $43.63. The stock had a trading volume of 16,000 shares, compared to its average volume of 31,256. 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 company has a market capitalization of $238.33 million, a P/E ratio of 11.99 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $27.33 and a 1-year high of $45.78. The stock has a fifty day moving average price of $43.31 and a 200-day moving average price of $41.35.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last posted its earnings results on Monday, July 20th. The bank reported $0.96 earnings per share (EPS) for the quarter. The company had revenue of $23.11 million during 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be given a $0.21 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $0.84 annualized dividend and a yield of 1.9%. Peoples Bancorp of North Carolina's payout ratio is presently 23.08%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of Peoples Bancorp of North Carolina by 7.1% in the 1st quarter. Empowered Funds LLC now owns 34,009 shares of the bank's stock valued at $926,000 after buying an additional 2,244 shares during the period. Geode Capital Management LLC boosted its holdings in Peoples Bancorp of North Carolina by 0.5% in the second quarter. Geode Capital Management LLC now owns 109,401 shares of the bank's stock valued at $3,157,000 after acquiring an additional 530 shares during the last quarter. First Trust Advisors LP boosted its holdings in Peoples Bancorp of North Carolina by 15.1% in the second quarter. First Trust Advisors LP now owns 21,366 shares of the bank's stock valued at $616,000 after acquiring an additional 2,809 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Peoples Bancorp of North Carolina in the second quarter worth about $63,000. Finally, Jane Street Group LLC acquired a new stake in Peoples Bancorp of North Carolina in the second quarter worth about $212,000. Institutional investors and hedge funds own 43.83% of the company's stock.

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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