Robert Abernethy Jr Sells 950 Shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock

Key Points

• Director Robert Abernethy Jr. sold 950 PEBK shares at an average price of $42.33, generating $40,213.50. His remaining stake fell 1.59% to 58,766 shares.
• Peoples Bancorp reported quarterly EPS of $0.96 on $23.11 million in revenue, with a 12.75% return on equity and a 17.25% net margin. The bank also maintains a $0.21 quarterly dividend, equivalent to a 2.0% yield.
• Institutional ownership stands at 43.83%, including a new $17.25 million BlackRock stake, while Weiss Ratings upgraded the stock to “buy (b+).” MarketBeat reports a consensus “Buy” rating.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director Robert Abernethy, Jr. sold 950 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.33, for a total value of $40,213.50. Following the completion of the transaction, the director owned 58,766 shares in the company, valued at approximately $2,487,564.78. This represents a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Peoples Bancorp of North Carolina Trading Up 0.0%

PEBK traded up $0.01 during mid-day trading on Friday, hitting $43.05. The stock had a trading volume of 24,618 shares, compared to its average volume of 30,799. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $27.33 and a 1-year high of $45.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $235.05 million, a price-to-earnings ratio of 11.83 and a beta of 0.29. The stock's fifty day simple moving average is $42.90 and its 200-day simple moving average is $40.47.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The bank reported $0.96 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.The business had revenue of $23.11 million during the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors 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 dividend on an annualized basis and a yield of 2.0%. Peoples Bancorp of North Carolina's dividend payout ratio (DPR) is 23.08%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PEBK. BlackRock Inc. acquired a new stake in Peoples Bancorp of North Carolina in the 2nd quarter valued at about $17,249,000. Deutsche Bank AG acquired a new position in shares of Peoples Bancorp of North Carolina during the 2nd quarter worth approximately $230,000. Empowered Funds LLC raised its stake in Peoples Bancorp of North Carolina by 3.3% in the 1st quarter. Empowered Funds LLC now owns 35,324 shares of the bank's stock valued at $1,383,000 after acquiring an additional 1,112 shares during the period. Renaissance Technologies LLC lifted its holdings in Peoples Bancorp of North Carolina by 33.3% during the 1st quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank's stock valued at $1,473,000 after purchasing an additional 9,407 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in Peoples Bancorp of North Carolina during the first quarter worth $236,000. 43.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently 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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