Key Points
- Director Douglas Howard purchased 500 shares of Peoples Bancorp of North Carolina at $43.76 per share, investing $21,880 and increasing his ownership by 2.11% to 24,227 shares.
- Peoples Bancorp reported quarterly EPS of $1.05 on $23.38 million in revenue, with an 18.93% net margin and a 13.84% return on equity.
- The stock traded near $44.03, while the company maintained a quarterly dividend of $0.21, equivalent to an annualized $0.84 payout and a 1.9% yield; Weiss Ratings upgraded the stock to “buy (a-).”
Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) Director Douglas Howard bought 500 shares of the firm's stock in a transaction on Wednesday, October 28th. The shares were bought at an average price of $43.76 per share, with a total value of $21,880.00. Following the completion of the purchase, the director owned 24,227 shares in the company, valued at approximately $1,060,173.52. The trade was a 2.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Peoples Bancorp of North Carolina Price Performance
NASDAQ PEBK opened at $44.03 on Friday. The business's fifty day moving average price is $43.82 and its 200-day moving average price is $41.42. The stock has a market capitalization of $240.40 million, a price-to-earnings ratio of 10.95 and a beta of 0.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86. Peoples Bancorp of North Carolina, Inc. has a 1-year low of $27.33 and a 1-year high of $45.78.
Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released its quarterly earnings results on Monday, October 19th. The bank reported $1.05 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.84% and a net margin of 18.93%. The firm had revenue of $23.38 million for the quarter.
Peoples Bancorp of North Carolina Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. Peoples Bancorp of North Carolina's dividend payout ratio is currently 20.90%.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy".
Read Our Latest Research Report on Peoples Bancorp of North Carolina
Institutional Trading of Peoples Bancorp of North Carolina
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEBK. Dimensional Fund Advisors LP raised its position 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 worth $6,551,000 after acquiring an additional 7,404 shares during the period. Renaissance Technologies LLC grew its position in shares of 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 acquiring an additional 9,407 shares during the period. Empowered Funds LLC grew its position in shares of Peoples Bancorp of North Carolina by 3.3% during 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. Hsbc Holdings PLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the 1st quarter worth $369,000. Finally, Ritholtz Wealth Management increased its stake in shares of Peoples Bancorp of North Carolina by 19.9% in the 1st quarter. Ritholtz Wealth Management now owns 7,136 shares of the bank's stock worth $279,000 after purchasing an additional 1,184 shares in the last quarter. 43.83% of the stock is owned by hedge funds and other institutional investors.
About Peoples Bancorp of North Carolina
(
Get Free Report)
Peoples Bancorp of North Carolina, Inc is the bank holding company for Peoples Bank, a community banking institution headquartered in Newton, North Carolina. Through its banking subsidiary, the company provides financial services to individuals, families, businesses and nonprofit organizations.
Peoples Bank offers deposit products, including checking, savings, money market and certificate of deposit accounts, along with consumer, residential mortgage, commercial and real estate lending.
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