Bank of New York Mellon Corp Invests $388,000 in Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK)

Bank of New York Mellon Corp bought a new stake in Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,275 shares of the bank’s stock, valued at approximately $388,000.

Separately, Empowered Funds LLC lifted its position in Peoples Bancorp of North Carolina by 7.7% in the first quarter. Empowered Funds LLC now owns 26,824 shares of the bank’s stock valued at $747,000 after acquiring an additional 1,925 shares during the last quarter. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

Peoples Bancorp of North Carolina Trading Down 2.5 %

NASDAQ:PEBK opened at $26.17 on Thursday. The company has a market capitalization of $142.89 million, a PE ratio of 8.93 and a beta of 0.58. Peoples Bancorp of North Carolina, Inc. has a 52-week low of $18.81 and a 52-week high of $32.37. The stock’s 50 day moving average price is $28.97 and its 200 day moving average price is $28.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.12.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.89 earnings per share for the quarter. The business had revenue of $20.94 million during the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.85% and a net margin of 15.80%.

Peoples Bancorp of North Carolina Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Tuesday, September 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 25.94%.

Insiders Place Their Bets

In other news, Director James S. Abernethy sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $29.15, for a total value of $29,150.00. Following the completion of the sale, the director now directly owns 80,086 shares of the company’s stock, valued at $2,334,506.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director James S. Abernethy sold 1,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.15, for a total value of $29,150.00. Following the transaction, the director now owns 80,086 shares in the company, valued at approximately $2,334,506.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kim Boyd-Leaks sold 8,686 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $28.91, for a total value of $251,112.26. Following the sale, the director now directly owns 1,022 shares of the company’s stock, valued at $29,546.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,686 shares of company stock valued at $395,507. Insiders own 16.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Peoples Bancorp of North Carolina from a “buy” rating to a “hold” rating in a report on Thursday, July 25th.

Peoples Bancorp of North Carolina Profile

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.