Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Declares Quarterly Dividend of $0.18

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBKGet Rating) announced a quarterly dividend on Tuesday, May 24th, Wall Street Journal reports. Shareholders of record on Friday, June 3rd will be paid a dividend of 0.18 per share by the bank on Wednesday, June 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, June 2nd.

Peoples Bancorp of North Carolina has raised its dividend by an average of 8.3% annually over the last three years and has increased its dividend annually for the last 10 consecutive years.

Shares of PEBK remained flat at $$25.95 during trading on Tuesday. 47 shares of the company’s stock were exchanged, compared to its average volume of 3,990. Peoples Bancorp of North Carolina has a 1-year low of $24.50 and a 1-year high of $30.00. The firm has a market cap of $146.77 million, a PE ratio of 10.26 and a beta of 0.76. The business’s fifty day moving average is $27.90 and its 200-day moving average is $28.09. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 0.80.

In other news, COO William D. Cable sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $26.05, for a total transaction of $200,585.00. Following the completion of the sale, the chief operating officer now owns 19,914 shares in the company, valued at approximately $518,759.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James S. Abernethy sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $26.35, for a total transaction of $105,400.00. Following the sale, the director now owns 46,820 shares of the company’s stock, valued at approximately $1,233,707. The disclosure for this sale can be found here. 18.61% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Fourthstone LLC increased its holdings in shares of Peoples Bancorp of North Carolina by 1.3% in the 1st quarter. Fourthstone LLC now owns 251,828 shares of the bank’s stock valued at $7,227,000 after acquiring an additional 3,234 shares during the period. Dimensional Fund Advisors LP increased its stake in Peoples Bancorp of North Carolina by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 163,408 shares of the bank’s stock valued at $4,690,000 after buying an additional 1,419 shares during the period. Vanguard Group Inc. increased its stake in Peoples Bancorp of North Carolina by 27.7% in the 1st quarter. Vanguard Group Inc. now owns 157,506 shares of the bank’s stock valued at $4,520,000 after buying an additional 34,178 shares during the period. Millennium Management LLC acquired a new position in Peoples Bancorp of North Carolina in the 2nd quarter valued at $530,000. Finally, BlackRock Inc. increased its stake in Peoples Bancorp of North Carolina by 4.7% in the 1st quarter. BlackRock Inc. now owns 13,487 shares of the bank’s stock valued at $387,000 after buying an additional 607 shares during the period. 49.09% of the stock is currently owned by institutional investors and hedge funds.

Separately, StockNews.com assumed coverage on shares of Peoples Bancorp of North Carolina in a report on Saturday. They issued a “buy” rating for the company.

About Peoples Bancorp of North Carolina (Get Rating)

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various commercial and consumer banking products and services to individuals and small to medium-sized businesses. It offers checking, savings, money market, and time deposits; demand deposits; and certificates of deposit, as well as borrowed funds.

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Dividend History for Peoples Bancorp of North Carolina (NASDAQ:PEBK)

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