Peoples Bancorp Inc. $PEBO Stock: Private Management Group Inc. Decreases Holdings

Private Management Group Inc. cut its holdings in Peoples Bancorp Inc. (NASDAQ:PEBO) by 86.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,859 shares of the bank’s stock after selling 501,610 shares during the period. Private Management Group Inc. owned approximately 0.22% of Peoples Bancorp worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEBO. Bank of America Corp DE acquired a new stake in Peoples Bancorp during the second quarter worth approximately $6,477,000. Odyssean LLC acquired a new position in Peoples Bancorp in the second quarter valued at approximately $1,046,000. Segall Bryant & Hamill LLC lifted its stake in Peoples Bancorp by 28.5% in the first quarter. Segall Bryant & Hamill LLC now owns 259,843 shares of the bank’s stock valued at $8,541,000 after buying an additional 57,650 shares during the period. Empowered Funds LLC acquired a new position in Peoples Bancorp in the second quarter valued at approximately $1,637,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Peoples Bancorp by 169.7% during the 1st quarter. Quantinno Capital Management LP now owns 44,883 shares of the bank’s stock worth $1,475,000 after buying an additional 28,243 shares in the last quarter. 60.68% of the stock is owned by institutional investors and hedge funds.

Peoples Bancorp Stock Performance

Shares of PEBO opened at $38.53 on Wednesday. Peoples Bancorp Inc. has a one year low of $28.23 and a one year high of $42.29. The company has a market cap of $1.39 billion, a PE ratio of 11.37 and a beta of 0.63. The stock has a 50-day moving average of $38.32 and a 200-day moving average of $36.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, October 20th. The bank reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $124.52 million for the quarter, compared to the consensus estimate of $123.40 million. Peoples Bancorp had a return on equity of 11.08% and a net margin of 19.76%. On average, equities research analysts predict that Peoples Bancorp Inc. will post 3.74 EPS for the current fiscal year.

Peoples Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, November 2nd. Peoples Bancorp’s dividend payout ratio (DPR) is 49.56%.

Insider Activity at Peoples Bancorp

In other news, EVP Mark Augenstein sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $37.88, for a total transaction of $75,760.00. Following the completion of the sale, the executive vice president owned 24,885 shares in the company, valued at $942,643.80. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Hugh Donlon sold 2,650 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $38.12, for a total value of $101,018.00. Following the transaction, the executive vice president directly owned 18,365 shares in the company, valued at $700,073.80. The trade was a 12.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.31% of the company’s stock.

Analyst Ratings Changes

PEBO has been the subject of several recent analyst reports. Zacks Research raised shares of Peoples Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Bancorp in a research note on Wednesday, August 26th. DA Davidson dropped their target price on shares of Peoples Bancorp from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 1st. Piper Sandler boosted their target price on shares of Peoples Bancorp from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Peoples Bancorp in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

About Peoples Bancorp

Peoples Bancorp Inc. is a financial holding company headquartered in Marietta, Ohio. Its principal subsidiary, Peoples Bank, provides commercial and consumer banking services to individuals, businesses and local organizations. The company offers deposit accounts, loans, payment services and other banking products, along with services such as wealth management, insurance and equipment financing. Its branches and service areas extend across Ohio, West Virginia, Kentucky and Virginia. Peoples traces its history to 1902, when it was established in Marietta.