Commonwealth Financial Services LLC Sells 16,939 Shares of Peoples Bancorp Inc. (NASDAQ:PEBO)

Commonwealth Financial Services LLC lessened its stake in Peoples Bancorp Inc. (NASDAQ:PEBO) by 40.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,854 shares of the bank’s stock after selling 16,939 shares during the quarter. Commonwealth Financial Services LLC owned approximately 0.07% of Peoples Bancorp worth $733,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Shoker Investment Counsel Inc. raised its position in Peoples Bancorp by 1.2% in the 2nd quarter. Shoker Investment Counsel Inc. now owns 30,789 shares of the bank’s stock valued at $924,000 after buying an additional 356 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Peoples Bancorp by 3.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,043 shares of the bank’s stock valued at $362,000 after purchasing an additional 381 shares in the last quarter. nVerses Capital LLC purchased a new position in Peoples Bancorp during the second quarter worth about $27,000. Wedge Capital Management L L P NC grew its position in Peoples Bancorp by 4.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 24,567 shares of the bank’s stock worth $737,000 after purchasing an additional 960 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Peoples Bancorp by 3.1% in the 2nd quarter. Victory Capital Management Inc. now owns 35,050 shares of the bank’s stock valued at $1,052,000 after buying an additional 1,050 shares during the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Insiders Place Their Bets

In related news, Director David F. Dierker sold 1,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $30.36, for a total transaction of $30,360.00. Following the sale, the director now directly owns 10,330 shares in the company, valued at approximately $313,618.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 2,121 shares of company stock worth $64,340 over the last 90 days. Corporate insiders own 3.46% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler cut their target price on Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.50.

Peoples Bancorp Stock Performance

Shares of Peoples Bancorp stock traded down $0.06 on Thursday, reaching $30.90. 14,618 shares of the company traded hands, compared to its average volume of 123,912. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $1.10 billion, a PE ratio of 8.80 and a beta of 0.75. The company has a 50 day moving average of $30.58 and a 200 day moving average of $30.11. Peoples Bancorp Inc. has a 52 week low of $25.24 and a 52 week high of $34.85.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. The company had revenue of $158.41 million during the quarter, compared to analyst estimates of $112.30 million. Peoples Bancorp had a return on equity of 12.76% and a net margin of 20.58%. During the same quarter last year, the firm posted $1.06 EPS. Equities analysts forecast that Peoples Bancorp Inc. will post 3.29 earnings per share for the current year.

Peoples Bancorp Announces Dividend

The firm also recently announced a quarterly 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. The ex-dividend date is Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 5.18%. Peoples Bancorp’s payout ratio is 45.45%.

About Peoples Bancorp

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.