Insider Selling: Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Sells 600 Shares of Stock

Key Points

• Director James S. Abernethy of Peoples Bancorp of North Carolina sold 600 shares at an average price of $28.58, totaling $17,148, resulting in a 1.52% decrease in their position.
• The company recently announced a quarterly dividend of $0.20, reflecting an annualized payout of $0.80 and a dividend yield of 2.8%.
• Institutional investors increased their holdings in Peoples Bancorp of North Carolina, with notable growth from State of Wyoming and Bank of America Corp DE, raising the total institutional ownership to 43.83%.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James S. Abernethy sold 600 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $28.58, for a total transaction of $17,148.00. Following the sale, the director directly owned 38,800 shares of the company's stock, valued at $1,108,904. The trade was a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Peoples Bancorp of North Carolina Stock Performance

Peoples Bancorp of North Carolina stock traded down $0.03 during mid-day trading on Thursday, reaching $28.71. 9,962 shares of the company traded hands, compared to its average volume of 8,125. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.83 and a quick ratio of 0.83. Peoples Bancorp of North Carolina, Inc. has a fifty-two week low of $23.74 and a fifty-two week high of $33.31. The company has a market capitalization of $156.73 million, a price-to-earnings ratio of 9.23 and a beta of 0.62. The firm's fifty day moving average is $28.80 and its two-hundred day moving average is $28.21.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The bank reported $0.95 earnings per share for the quarter. The firm had revenue of $22.29 million for the quarter. Peoples Bancorp of North Carolina had a net margin of 15.49% and a return on equity of 12.60%.

Peoples Bancorp of North Carolina Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were paid a $0.20 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.8%. Peoples Bancorp of North Carolina's dividend payout ratio is presently 25.72%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Peoples Bancorp of North Carolina from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th.

Institutional Trading of Peoples Bancorp of North Carolina

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming grew its position in Peoples Bancorp of North Carolina by 34.1% during the first quarter. State of Wyoming now owns 1,435 shares of the bank's stock valued at $39,000 after buying an additional 365 shares during the period. Wells Fargo & Company MN grew its position in Peoples Bancorp of North Carolina by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,590 shares of the bank's stock valued at $81,000 after buying an additional 564 shares during the period. American Century Companies Inc. grew its position in Peoples Bancorp of North Carolina by 3.1% during the fourth quarter. American Century Companies Inc. now owns 23,380 shares of the bank's stock valued at $731,000 after buying an additional 695 shares during the period. Bank of America Corp DE grew its position in Peoples Bancorp of North Carolina by 35.5% during the fourth quarter. Bank of America Corp DE now owns 4,649 shares of the bank's stock valued at $145,000 after buying an additional 1,219 shares during the period. Finally, Northern Trust Corp grew its position in Peoples Bancorp of North Carolina by 3.2% during the fourth quarter. Northern Trust Corp now owns 39,911 shares of the bank's stock valued at $1,247,000 after buying an additional 1,233 shares during the period. Institutional investors and hedge funds own 43.83% of the company's stock.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various banking products and services for individuals and small-to medium-sized businesses. It offers checking, savings, money market, and retirement accounts; certificates of deposits; and credit and debit cards.

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