James Abernethy Sells 600 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Key Points

• James Abernethy, a company director, sold 600 shares on April 30 at an average price of $39.35 for $23,610, leaving him with 69,226 shares (a 0.86% ownership decrease) as disclosed in an SEC filing.
• The board raised the quarterly dividend to $0.21 (annualized $0.84), up from $0.20, yielding about 2.1% with a payout ratio of 23.14%.
• The stock trades near $40.18 with a PE ratio of 11.07 and market cap of roughly $219.4M; the bank reported quarterly EPS of $0.80, a net margin of 17.22% and ROE of 13.24%, and received a Weiss Ratings upgrade to a "buy."

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 600 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $39.35, for a total transaction of $23,610.00. Following the completion of the transaction, the director owned 69,226 shares in the company, valued at $2,724,043.10. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Peoples Bancorp of North Carolina Stock Performance

Shares of PEBK stock traded up $0.76 on Friday, hitting $40.18. The company's stock had a trading volume of 26,089 shares, compared to its average volume of 26,046. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.84 and a current ratio of 0.84. The stock's 50 day moving average is $39.23 and its 200-day moving average is $36.03. Peoples Bancorp of North Carolina, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $42.63. The company has a market capitalization of $219.38 million, a PE ratio of 11.07 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, March 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.1%. This is a boost from Peoples Bancorp of North Carolina's previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 4th. Peoples Bancorp of North Carolina's dividend payout ratio is currently 23.14%.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position 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 purchasing an additional 502 shares during the period. Advisory Services Network LLC bought a new stake in Peoples Bancorp of North Carolina during the third quarter worth about $45,000. BNP Paribas Financial Markets lifted its position 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 worth $49,000 after purchasing an additional 351 shares during the period. Raymond James Financial Inc. bought a new stake in Peoples Bancorp of North Carolina during the second quarter worth about $63,000. Finally, MetLife Investment Management LLC bought a new stake in Peoples Bancorp of North Carolina during the fourth quarter worth about $88,000. Institutional investors own 43.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

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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