Microvast Holdings announces departure of chief financial officer
James S. Abernethy, a director at Peoples Bancorp (NASDAQ:PEBO) of North Carolina Inc. (NASDAQ:PEBK), recently sold 500 shares of the company’s common stock. The shares were sold at an average price of $28.12 per share, resulting in a total transaction value of $14,060. The transaction occurred as the $153 million market cap company trades near InvestingPro’s Fair Value assessment, with shares currently at $27.41. Following this sale, Abernethy holds 72,776 shares directly. Additionally, he has indirect ownership of 39,900 shares through his son and 70,441 shares in his capacity as Vice President, Secretary, and Chairman of Alexander Railroad. The company maintains strong fundamentals with a "GOOD" Financial Health score according to InvestingPro, and boasts a 41-year track record of consistent dividend payments, currently yielding 3.5%.
In other recent news, Peoples Bancorp of North Carolina, Inc. has announced a new stock repurchase program, planning to buy back up to $3 million of its common stock. This initiative is part of the company’s strategy to leverage its strong capital position to enhance shareholder value. Additionally, Peoples Bancorp has declared a regular cash dividend of $0.20 per share for the first quarter of 2025, payable to shareholders of record as of March 3, 2025. The dividend aligns with the company’s historical practice of returning value to its shareholders.
The bank operates 16 offices across North Carolina and has several loan production offices in the region. Peoples Bancorp’s financial standing, with assets totaling $1.65 billion and shareholders’ equity of $130.6 million as of December 31, 2024, supports these strategic financial decisions. The stock repurchase program will be conducted in compliance with securities laws and may be adjusted based on market conditions. The company emphasizes that these developments are subject to various risks and uncertainties, which could impact actual outcomes.
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