The Manufacturers Life Insurance Company purchased a new position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 15,685 shares of the bank’s stock, valued at approximately $602,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Jackson Creek Investment Advisors LLC purchased a new stake in Peoples Bancorp during the 4th quarter valued at approximately $1,817,000. UBS Group AG grew its stake in shares of Peoples Bancorp by 391.8% in the 4th quarter. UBS Group AG now owns 198,742 shares of the bank’s stock valued at $5,968,000 after purchasing an additional 158,327 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of 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 purchasing an additional 57,650 shares during the period. Vanguard Group Inc. raised its stake in shares of Peoples Bancorp by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,080,137 shares of the bank’s stock worth $62,467,000 after purchasing an additional 48,166 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in 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 during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.
Insider Activity
In other Peoples Bancorp news, insider Matthew Edgell sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $41.27, for a total transaction of $123,810.00. Following the completion of the transaction, the insider directly owned 20,183 shares in the company, valued at approximately $832,952.41. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight Smith bought 1,000 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were acquired at an average price of $39.81 per share, with a total value of $39,810.00. Following the transaction, the director owned 10,256 shares of the company’s stock, valued at $408,291.36. The trade was a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.31% of the stock is owned by insiders.
Peoples Bancorp Stock Performance
Peoples Bancorp (NASDAQ:PEBO – Get Free Report) last posted its earnings results on Tuesday, July 21st. The bank reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.11. The company 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%. Sell-side analysts expect that Peoples Bancorp Inc. will post 3.56 EPS for the current fiscal year.
Peoples Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were given a $0.42 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.68 annualized dividend and a dividend yield of 4.2%. Peoples Bancorp’s payout ratio is currently 50.76%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on PEBO shares. DA Davidson increased their target price on Peoples Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Peoples Bancorp from $38.00 to $42.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. Piper Sandler set a $46.00 price target on shares of Peoples Bancorp in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Bancorp in a report on Wednesday, August 26th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.00.
Check Out Our Latest Stock Analysis on Peoples Bancorp
Peoples Bancorp Company Profile
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.
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