Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $227,404.98 in Stock

Key Points

• Director Robert Abernethy sold 5,247 shares of Peoples Bancorp of North Carolina at an average price of $43.34, generating $227,404.98. He retained 108,116 shares after the transaction, a 4.63% reduction in his ownership.
• PEBK shares recently traded at $43.04, near their 52-week high of $45.78, while the bank reported quarterly EPS of $0.96 on $23.11 million in revenue.
• The company maintains a quarterly dividend of $0.21 per share, equivalent to an annualized $0.84 payout and a 2.0% yield. Analysts continue to rate the stock a consensus “Buy,” and institutional investors own 43.83% of its shares.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director Robert Abernethy sold 5,247 shares of Peoples Bancorp of North Carolina stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $43.34, for a total transaction of $227,404.98. Following the completion of the transaction, the director directly owned 108,116 shares of the company's stock, valued at $4,685,747.44. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Peoples Bancorp of North Carolina Price Performance

Shares of NASDAQ PEBK traded down $0.41 during mid-day trading on Thursday, hitting $43.04. 64,514 shares of the company's stock traded hands, compared to its average volume of 30,840. The company's 50-day moving average is $42.89 and its two-hundred day moving average is $40.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $235.00 million, a P/E ratio of 11.82 and a beta of 0.29. Peoples Bancorp of North Carolina, Inc. has a 1 year low of $26.81 and a 1 year high of $45.78.

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

Peoples Bancorp of North Carolina Announces Dividend

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

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in Peoples Bancorp of North Carolina by 116.7% in 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 last quarter. Advisory Services Network LLC bought a new position in shares of Peoples Bancorp of North Carolina during the third quarter valued at approximately $45,000. BNP Paribas Financial Markets grew its stake in shares of 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. purchased a new stake in shares of Peoples Bancorp of North Carolina in the second quarter worth approximately $63,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the fourth quarter worth approximately $88,000. 43.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Peoples Bancorp of North Carolina from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy".

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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