Key Points
- Director Robert Abernethy sold 7,000 PEBK shares at an average price of $43.61, generating $305,270 and reducing his ownership by 6.47% to 101,116 shares.
- Peoples Bancorp shares opened at $43.88, near their 12-month high of $45.78, while the bank reported quarterly EPS of $0.96 on $23.11 million in revenue.
- The company declared a quarterly dividend of $0.21 per share, equivalent to $0.84 annually and a 1.9% yield; analysts maintain a “Buy” view, and institutional investors own 43.83% of the stock.
Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director James Abernethy sold 500 shares of Peoples Bancorp of North Carolina stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $43.50, for a total value of $21,750.00. Following the completion of the sale, the director directly owned 34,900 shares of the company's stock, valued at $1,518,150. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Peoples Bancorp of North Carolina Stock Performance
Shares of NASDAQ:PEBK opened at $43.88 on Thursday. The stock has a market capitalization of $239.58 million, a P/E ratio of 12.05 and a beta of 0.29. 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 current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $43.31 and a two-hundred day moving average price of $41.39.
Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last issued its earnings results on Monday, July 20th. The bank reported $0.96 earnings per share (EPS) for the quarter. The company had revenue of $23.11 million for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.25% and a return on equity of 12.75%.
Peoples Bancorp of North Carolina Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. Peoples Bancorp of North Carolina's dividend payout ratio is 23.08%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in shares of Peoples Bancorp of North Carolina by 7.1% in the first quarter. Empowered Funds LLC now owns 34,009 shares of the bank's stock worth $926,000 after acquiring an additional 2,244 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Peoples Bancorp of North Carolina by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 109,401 shares of the bank's stock valued at $3,157,000 after purchasing an additional 530 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter valued at approximately $63,000. Finally, Jane Street Group LLC acquired a new position in shares of Peoples Bancorp of North Carolina in the 2nd quarter valued at approximately $212,000. 43.83% of the stock is currently owned by institutional investors.
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 note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".
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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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