Peoples Bancorp of North Carolina (NASDAQ:PEBK – Get Free Report) released its earnings results on Monday. The bank reported $1.05 earnings per share for the quarter, FiscalAI reports. The company had revenue of $23.38 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 Stock Performance
NASDAQ PEBK opened at $43.88 on Tuesday. The company has a 50-day simple moving average of $43.93 and a two-hundred day simple moving average of $42.66. Peoples Bancorp of North Carolina has a 12-month low of $27.33 and a 12-month high of $45.78. The firm has a market cap of $239.58 million, a price-to-earnings ratio of 12.05 and a beta of 0.30. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.10.
Peoples Bancorp of North Carolina Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, September 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio is presently 23.08%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating. According to MarketBeat, the company has a consensus rating of “Strong Buy”.
Read Our Latest Stock Analysis on Peoples Bancorp of North Carolina
Insider Transactions at Peoples Bancorp of North Carolina
In other news, Director James Abernethy sold 1,000 shares of Peoples Bancorp of North Carolina stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $42.91, for a total value of $42,910.00. Following the transaction, the director owned 66,626 shares in the company, valued at approximately $2,858,921.66. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert C. Abernethy, Jr. sold 1,200 shares of the business’s stock in a transaction dated 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 directly owned 57,566 shares of the company’s stock, valued at approximately $2,482,821.58. This trade represents a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,397 shares of company stock worth $796,889. Company insiders own 14.50% of the company’s stock.
Hedge Funds Weigh In On Peoples Bancorp of North Carolina
Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC increased its position in 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 purchasing an additional 1,112 shares during the period. Ritholtz Wealth Management lifted its position 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 during the period. GTS Securities LLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the 2nd quarter worth about $219,000. First Trust Advisors LP bought a new stake in shares of Peoples Bancorp of North Carolina during the 1st quarter valued at about $236,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Peoples Bancorp of North Carolina by 4.6% during the 1st 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. 43.83% of the stock is currently owned by institutional investors.
About Peoples Bancorp of North Carolina
Peoples Bancorp of North Carolina, Inc is the bank holding company for Peoples Bank, a community banking institution headquartered in Newton, North Carolina. Peoples Bank provides financial services to individuals, families, businesses and organizations through a network of banking offices and digital banking channels.
The bank’s products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial real estate and business loans, agricultural lending, online and mobile banking, treasury management and other related financial services.
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