Peoples Bank OH Boosts Stake in Peoples Bancorp Inc. (NASDAQ:PEBO)

Peoples Bank OH increased its position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 590,905 shares of the bank’s stock after acquiring an additional 6,250 shares during the period. Peoples Bancorp makes up approximately 11.0% of Peoples Bank OH’s holdings, making the stock its largest holding. Peoples Bank OH’s holdings in Peoples Bancorp were worth $18,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEBO. Wellington Management Group LLP grew its stake in Peoples Bancorp by 153.6% in the 3rd quarter. Wellington Management Group LLP now owns 352,488 shares of the bank’s stock worth $10,606,000 after buying an additional 213,488 shares in the last quarter. EMC Capital Management grew its stake in Peoples Bancorp by 787.3% in the 3rd quarter. EMC Capital Management now owns 57,485 shares of the bank’s stock worth $1,730,000 after buying an additional 51,006 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Peoples Bancorp by 316.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 61,645 shares of the bank’s stock worth $1,855,000 after buying an additional 46,845 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Peoples Bancorp in the 3rd quarter worth approximately $1,244,000. Finally, Barclays PLC grew its stake in Peoples Bancorp by 138.9% in the 3rd quarter. Barclays PLC now owns 63,096 shares of the bank’s stock worth $1,898,000 after buying an additional 36,684 shares in the last quarter. Institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Price Performance

Shares of Peoples Bancorp stock opened at $32.51 on Friday. Peoples Bancorp Inc. has a 52-week low of $26.74 and a 52-week high of $37.07. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 9.82 and a beta of 0.78. The company has a fifty day moving average of $32.29 and a 200-day moving average of $31.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. Peoples Bancorp had a net margin of 18.90% and a return on equity of 11.07%. During the same period in the previous year, the business posted $1.04 earnings per share. Equities research analysts expect that Peoples Bancorp Inc. will post 3.28 EPS for the current year.

Peoples Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.60 annualized dividend and a yield of 4.92%. Peoples Bancorp’s payout ratio is currently 48.34%.

Insider Buying and Selling at Peoples Bancorp

In other Peoples Bancorp news, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $34.82, for a total transaction of $34,820.00. Following the completion of the sale, the director now owns 28,322 shares of the company’s stock, valued at $986,172.04. This represents a 3.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David F. Dierker sold 2,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $35.36, for a total transaction of $70,720.00. Following the sale, the director now directly owns 1,214 shares of the company’s stock, valued at $42,927.04. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,000 shares of company stock valued at $169,390 in the last quarter. Company insiders own 3.46% of the company’s stock.

Analyst Ratings Changes

PEBO has been the subject of a number of research reports. DA Davidson cut their price target on shares of Peoples Bancorp from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Piper Sandler boosted their price target on shares of Peoples Bancorp from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and issued a $37.50 price target on shares of Peoples Bancorp in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Peoples Bancorp from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.90.

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.