Key Points
- Director James Abernethy sold 600 shares on Feb. 24 at an average price of $38.16 for $22,896, leaving him with 71,926 shares (a 0.83% reduction) valued at about $2.74 million.
- Peoples Bancorp raised its quarterly dividend to $0.21 (annualized $0.84, ~2.1% yield), payable March 16 to shareholders of record March 4, with a dividend payout ratio of ~22.1%.
- The bank reported quarterly EPS of $1.21 on $24.99 million in revenue, trades around $39.57 with a market cap of ~$216 million and a P/E of ~10.9, and carries a consensus analyst rating of Hold.
Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 600 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $38.16, for a total value of $22,896.00. Following the completion of the sale, the director directly owned 71,926 shares in the company, valued at $2,744,696.16. This represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Peoples Bancorp of North Carolina Price Performance
NASDAQ:PEBK traded up $0.26 during mid-day trading on Thursday, reaching $39.57. 9,673 shares of the stock were exchanged, compared to its average volume of 19,236. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average price of $37.26 and a 200 day moving average price of $33.35. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $23.74 and a 1-year high of $40.74. The firm has a market capitalization of $216.06 million, a PE ratio of 10.93 and a beta of 0.34.
Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last issued its quarterly earnings results on Monday, January 26th. The bank reported $1.21 earnings per share for the quarter. The company had revenue of $24.99 million during the quarter. Peoples Bancorp of North Carolina had a net margin of 17.30% and a return on equity of 13.77%.
Peoples Bancorp of North Carolina Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, March 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.1%. This is a positive change from Peoples Bancorp of North Carolina's previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, March 4th. Peoples Bancorp of North Carolina's dividend payout ratio (DPR) is presently 22.10%.
Hedge Funds Weigh In On Peoples Bancorp of North Carolina
Hedge funds have recently modified their holdings of the stock. Fourthstone LLC raised its position in Peoples Bancorp of North Carolina by 115.2% during the second quarter. Fourthstone LLC now owns 35,162 shares of the bank's stock valued at $1,014,000 after acquiring an additional 18,825 shares in the last quarter. HoldCo Asset Management LP bought a new stake in Peoples Bancorp of North Carolina during the 2nd quarter valued at approximately $729,000. AQR Capital Management LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the fourth quarter worth $249,000. O Shaughnessy Asset Management LLC acquired a new stake in Peoples Bancorp of North Carolina in the 4th quarter worth $304,000. Finally, Dimensional Fund Advisors LP grew its position in Peoples Bancorp of North Carolina by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 159,879 shares of the bank's stock worth $5,788,000 after buying an additional 2,598 shares in the last quarter. 43.83% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PEBK has been the topic of a number of recent research reports. Weiss Ratings cut Peoples Bancorp of North Carolina from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, February 20th. Wall Street Zen upgraded Peoples Bancorp of North Carolina to a "hold" rating in a research report on Saturday, December 20th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Peoples Bancorp of North Carolina presently has a consensus rating of "Hold".
Get Our Latest Report on Peoples Bancorp of North Carolina
Peoples Bancorp of North Carolina Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
