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

Key Points

• Director James Abernethy sold 600 shares on April 23 at an average price of $40.06 for $24,036, cutting his stake by 1.62% to 36,400 shares, per an SEC Form 4 filing.
• Peoples Bancorp raised its quarterly dividend to $0.21 (annualized $0.84, ~2.1% yield) and reported quarterly EPS of $0.80 with a 17.22% net margin and 13.24% ROE, while Weiss Ratings upgraded the stock to a "buy."

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 600 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $40.06, for a total transaction of $24,036.00. Following the sale, the director directly owned 36,400 shares in the company, valued at $1,458,184. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Peoples Bancorp of North Carolina Price Performance

Shares of PEBK traded down $0.22 during mid-day trading on Friday, hitting $39.31. 35,561 shares of the company traded hands, compared to its average volume of 25,820. Peoples Bancorp of North Carolina, Inc. has a one year low of $25.98 and a one year high of $42.63. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $39.24 and a 200 day moving average of $35.71. The stock has a market capitalization of $214.63 million, a price-to-earnings ratio of 10.83 and a beta of 0.30.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released its quarterly earnings results on Monday, April 20th. The bank reported $0.80 EPS for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.22% and a return on equity of 13.24%. The business had revenue of $21.57 million for the quarter.

Peoples Bancorp of North Carolina Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.1%. This is an increase from Peoples Bancorp of North Carolina's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 4th. Peoples Bancorp of North Carolina's payout ratio is currently 23.14%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy".

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Peoples Bancorp of North Carolina by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 159,879 shares of the bank's stock valued at $5,788,000 after acquiring an additional 2,598 shares during the last quarter. Fourthstone LLC boosted its stake in Peoples Bancorp of North Carolina by 104.4% in the fourth quarter. Fourthstone LLC now owns 154,533 shares of the bank's stock valued at $5,594,000 after acquiring an additional 78,921 shares during the last quarter. Geode Capital Management LLC boosted its stake in Peoples Bancorp of North Carolina by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 109,442 shares of the bank's stock valued at $3,962,000 after acquiring an additional 886 shares during the last quarter. Empowered Funds LLC boosted its stake in Peoples Bancorp of North Carolina by 7.1% in the first quarter. Empowered Funds LLC now owns 34,009 shares of the bank's stock valued at $926,000 after acquiring an additional 2,244 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in Peoples Bancorp of North Carolina in the fourth quarter valued at approximately $304,000. 43.83% of the stock is owned by institutional investors.

Peoples Bancorp of North Carolina Company Profile

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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