Pinnacle Holdings LLC Invests $1.50 Million in Peoples Bancorp Inc. $PEBO

Pinnacle Holdings LLC acquired a new position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,889 shares of the bank’s stock, valued at approximately $1,503,000. Pinnacle Holdings LLC owned about 0.10% of Peoples Bancorp as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in Peoples Bancorp during the 3rd quarter worth approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Peoples Bancorp in the 2nd quarter valued at approximately $33,000. Quarry LP bought a new position in shares of Peoples Bancorp during the third quarter valued at $35,000. Allworth Financial LP acquired a new position in shares of Peoples Bancorp during the second quarter worth $50,000. Finally, Strs Ohio acquired a new position in shares of Peoples Bancorp during the first quarter worth $62,000. Institutional investors and hedge funds own 60.68% of the company’s stock.

Analyst Upgrades and Downgrades

PEBO has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a report on Wednesday, July 22nd. Piper Sandler set a $46.00 target price on Peoples Bancorp in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Bancorp in a research report on Friday, May 29th. Finally, DA Davidson increased their price target on Peoples Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Buying and Selling at Peoples Bancorp

In other news, Director Dwight Eric Smith purchased 1,000 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were purchased at an average price of $39.81 per share, with a total value of $39,810.00. Following the transaction, the director directly owned 10,256 shares of the company’s stock, valued at approximately $408,291.36. This represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Edgell sold 3,000 shares of Peoples Bancorp stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $41.27, for a total value of $123,810.00. Following the completion of the sale, the insider directly owned 20,183 shares of the company’s stock, valued at approximately $832,952.41. This trade represents a 12.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.31% of the company’s stock.

Peoples Bancorp Price Performance

Shares of NASDAQ:PEBO opened at $40.06 on Monday. The company has a market capitalization of $1.44 billion, a PE ratio of 12.10 and a beta of 0.61. Peoples Bancorp Inc. has a 1 year low of $27.49 and a 1 year high of $42.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $39.38 and a two-hundred day moving average price of $35.64.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $0.96 EPS for the quarter, topping the consensus estimate of $0.85 by $0.11. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. The business had revenue of $121.95 million for the quarter, compared to analyst estimates of $120.05 million. Analysts forecast that Peoples Bancorp Inc. will post 3.56 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Monday, August 3rd. Peoples Bancorp’s dividend payout ratio (DPR) is currently 50.76%.

About Peoples Bancorp

Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.

On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.