Peoples Bancorp of North Carolina (NASDAQ:PEBK) Issues Earnings Results

Key Points

• Peoples Bancorp of North Carolina reported quarterly earnings of $0.96 per share, with a net margin of 17.22% and return on equity of 13.07%.
• The stock was down 0.7% and opened at $42.23, near its 50-day moving average of $42.36 and below its 1-year high of $45.78.
• The bank paid a quarterly dividend of $0.21 per share, equal to an annualized yield of 2.0%, while analysts continue to rate the stock a Buy.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) posted its quarterly earnings data on Monday. The bank reported $0.96 EPS for the quarter, Zacks reports. Peoples Bancorp of North Carolina had a net margin of 17.22% and a return on equity of 13.07%.

Peoples Bancorp of North Carolina Trading Down 0.7%

Shares of PEBK opened at $42.23 on Monday. The stock has a 50 day simple moving average of $42.36 and a 200-day simple moving average of $39.80. 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 has a 1 year low of $26.81 and a 1 year high of $45.78. The stock has a market cap of $230.58 million, a PE ratio of 11.72 and a beta of 0.29.

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 dividend of $0.21 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.0%. Peoples Bancorp of North Carolina's dividend payout ratio (DPR) is currently 23.14%.

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 Friday, April 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy".

Insider Buying and Selling

In other news, Director Ashton V. Abernethy sold 950 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $42.26, for a total transaction of $40,147.00. Following the completion of the transaction, the director directly owned 43,838 shares in the company, valued at approximately $1,852,593.88. The trade was a 2.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert C. Abernethy, Jr. sold 1,200 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $41.61, for a total value of $49,932.00. Following the completion of the sale, the director owned 55,058 shares in the company, valued at $2,290,963.38. The trade was a 2.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,450 shares of company stock worth $182,895 over the last quarter. 14.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in shares of 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 valued at $29,000 after buying an additional 502 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Peoples Bancorp of North Carolina during the 3rd quarter worth approximately $45,000. BNP Paribas Financial Markets boosted its holdings in 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 valued at $49,000 after purchasing an additional 351 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Peoples Bancorp of North Carolina during the 2nd quarter worth approximately $63,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Peoples Bancorp of North Carolina in the fourth quarter valued at approximately $88,000. 43.83% of the stock is owned by institutional investors.

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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