Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director Sells $14,060.00 in Stock

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Director James S. Abernethy sold 500 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $28.12, for a total value of $14,060.00. Following the completion of the sale, the director now owns 72,776 shares in the company, valued at $2,046,461.12. This represents a 0.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Peoples Bancorp of North Carolina Stock Performance

Shares of PEBK stock opened at $27.41 on Monday. Peoples Bancorp of North Carolina, Inc. has a 52 week low of $23.74 and a 52 week high of $33.31. The firm has a 50 day moving average of $28.12 and a two-hundred day moving average of $28.44. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $149.55 million, a PE ratio of 9.20 and a beta of 0.60.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last issued its quarterly earnings results on Wednesday, February 12th. The bank reported $0.65 earnings per share for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.85% and a net margin of 15.08%.

Peoples Bancorp of North Carolina Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.20 dividend. This is a boost from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.80 annualized dividend and a yield of 2.92%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is 26.85%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Peoples Bancorp of North Carolina from a “buy” rating to a “hold” rating in a research note on Saturday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEBK. Wellington Management Group LLP lifted its position in shares of Peoples Bancorp of North Carolina by 606.4% during the 4th quarter. Wellington Management Group LLP now owns 426,893 shares of the bank’s stock worth $13,340,000 after purchasing an additional 366,459 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Peoples Bancorp of North Carolina during the 4th quarter worth about $277,000. Deutsche Bank AG purchased a new position in shares of Peoples Bancorp of North Carolina in the 4th quarter valued at about $82,000. Bank of America Corp DE raised its position in shares of Peoples Bancorp of North Carolina by 35.5% during the 4th quarter. Bank of America Corp DE now owns 4,649 shares of the bank’s stock worth $145,000 after acquiring an additional 1,219 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Peoples Bancorp of North Carolina by 41.7% during the fourth quarter. BNP Paribas Financial Markets now owns 11,335 shares of the bank’s stock worth $354,000 after purchasing an additional 3,335 shares during the last quarter. Institutional investors and hedge funds own 43.83% of the company’s stock.

About Peoples Bancorp of North Carolina

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various banking products and services for individuals and small-to medium-sized businesses. It offers checking, savings, money market, and retirement accounts; certificates of deposits; and credit and debit cards.