Peoples Bancorp of North Carolina (NASDAQ:PEBK) Director Sells $42,890.00 in Stock

Key Points

• Director James Abernethy sold 1,000 PEBK shares at an average price of $42.89, generating $42,890 and reducing his holdings by 1.46% to 67,626 shares.
• Peoples Bancorp stock fell 0.4% to $43.16, while the bank reported quarterly EPS of $0.96 on $23.11 million in revenue. The company maintains a $0.21 quarterly dividend, equivalent to a 1.9% yield.
• Institutional investors own 43.83% of the company, with several firms increasing or initiating positions, and the stock continues to carry an overall “Buy” rating.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $42.89, for a total transaction of $42,890.00. Following the completion of the transaction, the director owned 67,626 shares in the company, valued at $2,900,479.14. The trade was a 1.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Peoples Bancorp of North Carolina Trading Down 0.4%

PEBK stock traded down $0.18 during midday trading on Thursday, reaching $43.16. 14,028 shares of the company's stock traded hands, compared to its average volume of 29,853. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. Peoples Bancorp of North Carolina, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $45.78. The business has a 50-day moving average price of $42.79 and a two-hundred day moving average price of $40.19. The company has a market capitalization of $235.65 million, a P/E ratio of 11.86 and a beta of 0.29.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last issued its earnings results on Monday, July 20th. The bank reported $0.96 EPS for the quarter. The business had revenue of $23.11 million for 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd were given 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 (DPR) is 23.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fourthstone LLC increased its stake in Peoples Bancorp of North Carolina by 104.4% during the 4th quarter. Fourthstone LLC now owns 154,533 shares of the bank's stock worth $5,594,000 after buying an additional 78,921 shares during the period. Renaissance Technologies LLC grew its stake in shares of Peoples Bancorp of North Carolina by 33.3% during the first quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank's stock valued at $1,473,000 after acquiring an additional 9,407 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Peoples Bancorp of North Carolina during the first quarter valued at about $369,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Peoples Bancorp of North Carolina during the fourth quarter worth about $304,000. Finally, Flywheel Private Wealth LLC purchased a new stake in shares of Peoples Bancorp of North Carolina during the first quarter worth about $305,000. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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