Key Points
- Director Robert Abernethy, Jr. sold 1,200 PEBK shares at an average price of $43.13, totaling $51,756. Following the sale, he retained 57,566 shares, a 2.04% reduction in his ownership.
- Peoples Bancorp reported quarterly earnings of $0.96 per share on $23.11 million in revenue, with a 12.75% return on equity and a 17.25% net margin.
- The company declared a quarterly dividend of $0.21 per share, equivalent to $0.84 annually and a 1.9% yield. Institutional investors own 43.83% of the stock, while the company carries a consensus “Buy” rating.
Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director Robert Abernethy, Jr. sold 1,200 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $43.13, for a total value of $51,756.00. Following the completion of the sale, the director owned 57,566 shares of the company's stock, valued at $2,482,821.58. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Peoples Bancorp of North Carolina Stock Performance
Shares of NASDAQ PEBK opened at $43.20 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $235.96 million, a price-to-earnings ratio of 11.87 and a beta of 0.29. The stock's fifty day moving average price is $43.31 and its two-hundred day moving average price is $41.35. Peoples Bancorp of North Carolina, Inc. has a one year low of $27.33 and a one year high of $45.78.
Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last posted its earnings results on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. The company had revenue of $23.11 million during the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.
Peoples Bancorp of North Carolina Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be paid a $0.21 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $0.84 annualized dividend and a yield of 1.9%. Peoples Bancorp of North Carolina's payout ratio is 23.08%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in Peoples Bancorp of North Carolina by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank's stock valued at $6,551,000 after purchasing an additional 7,404 shares in the last quarter. Fourthstone LLC grew its stake in Peoples Bancorp of North Carolina by 104.4% during the fourth quarter. Fourthstone LLC now owns 154,533 shares of the bank's stock worth $5,594,000 after buying an additional 78,921 shares in the last quarter. Geode Capital Management LLC increased its holdings in Peoples Bancorp of North Carolina by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 109,442 shares of the bank's stock valued at $3,962,000 after buying an additional 886 shares during the period. Maltese Capital Management LLC raised its position in shares of Peoples Bancorp of North Carolina by 1.2% in the 4th quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank's stock valued at $1,808,000 after buying an additional 612 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Peoples Bancorp of North Carolina by 33.3% in the 1st quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank's stock valued at $1,473,000 after buying an additional 9,407 shares in the last quarter. Institutional investors own 43.83% of the company's stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy".
Read Our Latest Analysis on PEBK
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.
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