Peoples Bancorp Inc. (NASDAQ:PEBO) is Peoples Bank OH’s 2nd Largest Position

Peoples Bank OH decreased its stake in Peoples Bancorp Inc. (NASDAQ:PEBO) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 584,655 shares of the bank’s stock after selling 1,650 shares during the quarter. Peoples Bancorp makes up 9.0% of Peoples Bank OH’s portfolio, making the stock its 2nd biggest holding. Peoples Bank OH owned 1.65% of Peoples Bancorp worth $17,592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Shoker Investment Counsel Inc. grew its position in shares of Peoples Bancorp by 1.2% during the second quarter. Shoker Investment Counsel Inc. now owns 30,789 shares of the bank’s stock worth $924,000 after purchasing an additional 356 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew 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 worth $362,000 after purchasing an additional 381 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Peoples Bancorp during the second quarter worth about $27,000. Wedge Capital Management L L P NC grew its position in shares of Peoples Bancorp by 4.1% during the second 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. grew its position in shares of Peoples Bancorp by 3.1% during the second quarter. Victory Capital Management Inc. now owns 35,050 shares of the bank’s stock worth $1,052,000 after purchasing an additional 1,050 shares in the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price target on Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.50.

Insider Activity

In other news, Director David F. Dierker sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 10,330 shares of the company’s stock, valued at $313,618.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 2,121 shares of company stock valued at $64,340 in the last ninety days. Insiders own 3.46% of the company’s stock.

Peoples Bancorp Price Performance

NASDAQ PEBO traded up $0.04 during trading on Thursday, hitting $31.00. 54,679 shares of the stock traded hands, compared to its average volume of 124,106. The company has a market capitalization of $1.10 billion, a P/E ratio of 8.78 and a beta of 0.75. The firm has a 50-day simple moving average of $30.58 and a 200-day simple moving average of $30.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. Peoples Bancorp Inc. has a 12-month low of $25.24 and a 12-month high of $34.85.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. The business had revenue of $158.41 million during the quarter, compared to analysts’ expectations 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 business posted $1.06 EPS. As a group, analysts predict that Peoples Bancorp Inc. will post 3.29 EPS for the current year.

Peoples Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Monday, November 4th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Monday, November 4th. 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.