Jupiter Topco LLC Invests $662,000 in Peoples Bancorp Inc. $PEBO

Jupiter Topco LLC bought a new position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) in the second quarter, Holdings Channel.com reports. The fund bought 17,248 shares of the bank’s stock, valued at approximately $662,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Peoples Bancorp during the second quarter valued at $128,113,000. Dimensional Fund Advisors LP raised its position in shares of Peoples Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,270,134 shares of the bank’s stock worth $74,619,000 after acquiring an additional 21,273 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Peoples Bancorp by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 2,080,137 shares of the bank’s stock worth $62,467,000 after acquiring an additional 48,166 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Peoples Bancorp by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 877,629 shares of the bank’s stock valued at $26,360,000 after purchasing an additional 3,427 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Peoples Bancorp by 18.1% in the 4th quarter. Millennium Management LLC now owns 472,456 shares of the bank’s stock valued at $14,188,000 after purchasing an additional 72,392 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.

Insiders Place Their Bets

In other Peoples Bancorp news, insider Matthew Edgell sold 3,000 shares of the company’s stock in a transaction on 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 transaction, the insider owned 20,183 shares in the company, valued at $832,952.41. This represents a 12.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight Smith acquired 1,000 shares of the stock in a transaction on Thursday, July 23rd. The stock was bought at an average cost of $39.81 per share, for a total transaction of $39,810.00. Following the transaction, the director owned 10,256 shares of the company’s stock, valued at approximately $408,291.36. This trade represents a 10.80% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.31% of the company’s stock.

Analyst Ratings Changes

PEBO has been the subject of several recent analyst reports. Piper Sandler set a $46.00 target price on Peoples Bancorp in a research note on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a report on Wednesday, August 26th. DA Davidson raised their price objective on shares of Peoples Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Peoples Bancorp presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Peoples Bancorp Price Performance

PEBO stock opened at $39.99 on Monday. 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 company’s 50-day moving average is $39.94 and its 200-day moving average is $36.06. The stock has a market capitalization of $1.44 billion, a PE ratio of 12.08 and a beta of 0.59. Peoples Bancorp Inc. has a 1 year low of $27.49 and a 1 year high of $42.29.

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

Peoples Bancorp Announces Dividend

The company also recently disclosed 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 is presently 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.