Key Points
- Director James Abernethy sold 523 shares on Feb. 27 at an average price of $38.91 for $20,349.93, leaving him with 71,403 shares (a 0.73% decrease in his ownership); the transaction was disclosed in an SEC filing.
- Peoples Bancorp raised its quarterly dividend to $0.21 (annualized $0.84) from $0.20, implying a ~2.2% yield; the ex-dividend date is Mar. 4 and the payment date is Mar. 16.
- PEBK traded near $38.21 with a market cap of about $208.6M and a P/E of 10.56, and Wall Street currently has a consensus rating of Hold on the stock.
Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 523 shares of the company's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $38.91, for a total transaction of $20,349.93. Following the completion of the transaction, the director directly owned 71,403 shares of the company's stock, valued at approximately $2,778,290.73. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Peoples Bancorp of North Carolina Stock Performance
Shares of NASDAQ PEBK traded down $1.24 during midday trading on Friday, hitting $38.21. 20,763 shares of the company's stock were exchanged, compared to its average volume of 26,057. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $208.63 million, a PE ratio of 10.56 and a beta of 0.34. The company's 50 day moving average price is $37.30 and its 200 day moving average price is $33.46. Peoples Bancorp of North Carolina, Inc. has a 12 month low of $23.74 and a 12 month high of $40.74.
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. Peoples Bancorp of North Carolina had a net margin of 17.30% and a return on equity of 13.77%. The company had revenue of $24.99 million during the quarter.
Peoples Bancorp of North Carolina Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, March 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, March 4th. This is an increase from Peoples Bancorp of North Carolina's previous quarterly dividend of $0.20. Peoples Bancorp of North Carolina's payout ratio is 22.10%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on PEBK shares. Weiss Ratings downgraded Peoples Bancorp of North Carolina from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, February 20th. Wall Street Zen upgraded Peoples Bancorp of North Carolina to a "hold" rating in a research note on Saturday, December 20th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".
View Our Latest Report on PEBK
Hedge Funds Weigh In On Peoples Bancorp of North Carolina
Large investors have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in Peoples Bancorp of North Carolina by 7.1% in the 1st quarter. Empowered Funds LLC now owns 34,009 shares of the bank's stock worth $926,000 after acquiring an additional 2,244 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Peoples Bancorp of North Carolina by 14.5% during the second quarter. Los Angeles Capital Management LLC now owns 9,425 shares of the bank's stock worth $272,000 after purchasing an additional 1,190 shares during the period. Geode Capital Management LLC grew its stake in shares of Peoples Bancorp of North Carolina by 0.5% in the second quarter. Geode Capital Management LLC now owns 109,401 shares of the bank's stock worth $3,157,000 after purchasing an additional 530 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in Peoples Bancorp of North Carolina during the 2nd quarter valued at about $29,000. Finally, First Trust Advisors LP increased its holdings in Peoples Bancorp of North Carolina by 15.1% during the 2nd quarter. First Trust Advisors LP now owns 21,366 shares of the bank's stock valued at $616,000 after purchasing an additional 2,809 shares during the period. 43.83% of the stock is currently owned by institutional investors.
About Peoples Bancorp of North Carolina
(
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.
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