Peoples Bancorp (NASDAQ:PEBO) Shares Gap Up After Dividend Announcement

Peoples Bancorp Inc. (NASDAQ:PEBO)’s stock price gapped up prior to trading on Tuesday following a dividend announcement from the company. The stock had previously closed at $30.46, but opened at $31.20. Peoples Bancorp shares last traded at $30.07, with a volume of 18,267 shares trading hands.

The newly announced dividend which will be paid on Monday, November 18th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.29%. Peoples Bancorp’s dividend payout ratio (DPR) is 47.90%.

Wall Street Analyst Weigh In

Separately, Piper Sandler assumed coverage on shares of Peoples Bancorp in a research note on Friday, October 4th. They issued an “overweight” rating and a $39.00 target price for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.25.

Peoples Bancorp Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50-day moving average price of $30.50 and a 200-day moving average price of $30.07. The stock has a market cap of $1.07 billion, a P/E ratio of 9.25 and a beta of 0.75.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The company had revenue of $154.47 million during the quarter, compared to analysts’ expectations of $111.30 million. Peoples Bancorp had a return on equity of 12.76% and a net margin of 20.58%. During the same period in the prior year, the firm earned $0.83 EPS. On average, equities research analysts expect that Peoples Bancorp Inc. will post 3.29 EPS for the current year.

Insider Transactions at Peoples Bancorp

In other news, Director David F. Dierker sold 1,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $30.36, for a total value of $30,360.00. Following the completion of the transaction, the director now directly owns 10,330 shares in the company, valued at approximately $313,618.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 2,121 shares of company stock valued at $64,340. Insiders own 3.46% of the company’s stock.

Institutional Trading of Peoples Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC raised its position in shares of Peoples Bancorp by 322.2% in the 3rd quarter. nVerses Capital LLC now owns 3,800 shares of the bank’s stock worth $114,000 after acquiring an additional 2,900 shares in the last quarter. Creative Planning boosted its stake in Peoples Bancorp by 36.4% during the third quarter. Creative Planning now owns 32,185 shares of the bank’s stock worth $968,000 after acquiring an additional 8,594 shares in the last quarter. Inspire Investing LLC increased its stake in shares of Peoples Bancorp by 16.0% during the third quarter. Inspire Investing LLC now owns 13,718 shares of the bank’s stock valued at $413,000 after purchasing an additional 1,890 shares in the last quarter. CWM LLC lifted its holdings in shares of Peoples Bancorp by 503.9% during the third quarter. CWM LLC now owns 1,860 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,552 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Peoples Bancorp in the 3rd quarter worth approximately $123,000. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Company Profile

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; and provides commercial and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.