James S. Abernethy Sells 600 Shares of Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) 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 firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $28.58, for a total value of $17,148.00. Following the sale, the director owned 38,800 shares of the company's stock, valued at $1,108,904. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Peoples Bancorp of North Carolina Stock Performance

NASDAQ PEBK traded up $0.23 during trading on Monday, hitting $28.09. The company's stock had a trading volume of 639 shares, compared to its average volume of 8,209. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average price of $28.78 and a 200 day moving average price of $28.15. The firm has a market cap of $153.37 million, a P/E ratio of 9.03 and a beta of 0.65. Peoples Bancorp of North Carolina, Inc. has a 52 week low of $23.74 and a 52 week high of $33.31.

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

Peoples Bancorp of North Carolina Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised 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

Several institutional investors have recently modified their holdings of the company. American Century Companies Inc. grew its position in Peoples Bancorp of North Carolina by 3.1% in the fourth quarter. American Century Companies Inc. now owns 23,380 shares of the bank's stock valued at $731,000 after acquiring an additional 695 shares during the period. JPMorgan Chase & Co. grew its position in Peoples Bancorp of North Carolina by 116.0% in the fourth quarter. JPMorgan Chase & Co. now owns 9,429 shares of the bank's stock valued at $295,000 after acquiring an additional 5,063 shares during the period. Wellington Management Group LLP grew its holdings in shares of Peoples Bancorp of North Carolina by 606.4% during the fourth quarter. Wellington Management Group LLP now owns 426,893 shares of the bank's stock worth $13,340,000 after purchasing an additional 366,459 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of 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 worth $81,000 after purchasing an additional 564 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Peoples Bancorp of North Carolina by 32.7% during the fourth quarter. Barclays PLC now owns 10,351 shares of the bank's stock worth $323,000 after purchasing an additional 2,550 shares during the last quarter. 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.