James Abernethy Sells 500 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Key Points

• Director James Abernethy sold 500 shares of Peoples Bancorp of North Carolina at an average price of $43.17, generating $21,585; he retained 35,400 shares after the transaction.
• Peoples Bancorp reported quarterly earnings of $0.96 per share on $23.11 million in revenue, with a 17.25% net margin and 12.88% return on equity.
• The company pays a quarterly dividend of $0.21, equivalent to $0.84 annually and a 1.9% yield; the stock has an average analyst rating of “Buy.”

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 500 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $43.17, for a total transaction of $21,585.00. Following the completion of the sale, the director directly owned 35,400 shares of the company's stock, valued at $1,528,218. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Peoples Bancorp of North Carolina Price Performance

NASDAQ PEBK opened at $43.34 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Peoples Bancorp of North Carolina, Inc. has a 12 month low of $26.81 and a 12 month high of $45.78. The stock has a market cap of $236.64 million, a price-to-earnings ratio of 11.91 and a beta of 0.29. The company's 50 day moving average is $42.79 and its two-hundred day moving average is $40.19.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. The business 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 12.88%.

Peoples Bancorp of North Carolina Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, June 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.84 annualized dividend and a yield of 1.9%. Peoples Bancorp of North Carolina's dividend payout ratio is currently 23.08%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Peoples Bancorp of North Carolina in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in Peoples Bancorp of North Carolina by 116.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank's stock valued at $29,000 after acquiring an additional 502 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the third quarter worth about $45,000. BNP Paribas Financial Markets boosted its stake in Peoples Bancorp of North Carolina by 28.1% during the third quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank's stock valued at $49,000 after buying an additional 351 shares during the last quarter. Raymond James Financial Inc. bought a new position in Peoples Bancorp of North Carolina during the second quarter valued at approximately $63,000. Finally, MetLife Investment Management LLC purchased a new position in Peoples Bancorp of North Carolina during the 4th quarter valued at approximately $88,000. Institutional investors 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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