Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $43,110.00 in Stock

Key Points

• Director James Abernethy sold 1,000 PEBK shares at an average price of $43.11, generating $43,110. After the transaction, he retained 65,626 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 outstanding shares.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 1,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $43.11, for a total transaction of $43,110.00. Following the completion of the sale, the director owned 65,626 shares of the company's stock, valued at $2,829,136.86. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Peoples Bancorp of North Carolina Price Performance

PEBK traded up $0.47 on Friday, reaching $43.81. 10,140 shares of the company's stock were exchanged, compared to its average volume of 31,494. The stock has a market cap of $239.20 million, a PE ratio of 12.04 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a twelve month low of $27.33 and a twelve month high of $45.78. The stock's fifty day moving average price is $43.28 and its 200-day moving average price is $41.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released its quarterly earnings data on Monday, July 20th. The bank reported $0.96 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. Peoples Bancorp of North Carolina's payout ratio is 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 investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEBK. Russell Investments Group Ltd. increased its stake in Peoples Bancorp of North Carolina by 116.7% during the third quarter. Russell Investments Group Ltd. now owns 932 shares of the bank's stock worth $29,000 after acquiring an additional 502 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Peoples Bancorp of North Carolina in the 3rd quarter valued at $45,000. BNP Paribas Financial Markets grew its holdings in shares of Peoples Bancorp of North Carolina by 28.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank's stock worth $49,000 after purchasing an additional 351 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Peoples Bancorp of North Carolina during the 2nd quarter worth $63,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Peoples Bancorp of North Carolina during the 4th quarter worth about $88,000. 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 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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