Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director James Abernethy Sells 1,000 Shares

Key Points

• Director James Abernethy sold 1,000 shares of Peoples Bancorp of North Carolina at an average price of $42.91, reducing his holdings by 1.48% to 66,626 shares.
• PEBK shares closed at $43.00, with a market capitalization of approximately $234.8 million. The stock trades near its 52-week high of $45.78 and has a price-to-earnings ratio of 11.81.
• The bank reported quarterly earnings of $0.96 per share on $23.11 million in revenue and pays a quarterly dividend of $0.21, equivalent to a 2.0% yield. An analyst maintained a “Buy” rating.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 1,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $42.91, for a total value of $42,910.00. Following the completion of the sale, the director owned 66,626 shares of the company's stock, valued at $2,858,921.66. The trade was a 1.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Peoples Bancorp of North Carolina Price Performance

NASDAQ:PEBK remained flat at $43.00 on Friday. The company's stock had a trading volume of 25,598 shares, compared to its average volume of 29,978. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. The stock's 50 day moving average is $42.79 and its 200-day moving average is $40.24. The stock has a market capitalization of $234.78 million, a price-to-earnings ratio of 11.81 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a twelve month low of $26.81 and a twelve month high of $45.78.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released its quarterly earnings data on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.88% and a net margin of 17.25%.The firm had revenue of $23.11 million during the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, June 3rd. Peoples Bancorp of North Carolina's dividend payout ratio is presently 23.08%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake 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 valued at $29,000 after purchasing an additional 502 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Peoples Bancorp of North Carolina in the 3rd quarter worth about $45,000. BNP Paribas Financial Markets increased its holdings in shares of Peoples Bancorp of North Carolina by 28.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank's stock worth $49,000 after buying an additional 351 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Peoples Bancorp of North Carolina during the 2nd quarter valued at about $63,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Peoples Bancorp of North Carolina during the 4th quarter valued at about $88,000. 43.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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