Private Management Group Inc. Reduces Stock Position in Peoples Bancorp Inc. $PEBO

Private Management Group Inc. cut its stake in Peoples Bancorp Inc. (NASDAQ:PEBO) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 580,469 shares of the bank’s stock after selling 15,180 shares during the quarter. Private Management Group Inc. owned 1.62% of Peoples Bancorp worth $22,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Peoples Bancorp in the 2nd quarter worth approximately $128,113,000. Raymond James Financial Inc. raised its stake in Peoples Bancorp by 422.4% during the 2nd quarter. Raymond James Financial Inc. now owns 349,948 shares of the bank’s stock valued at $10,687,000 after buying an additional 282,960 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Peoples Bancorp during the 2nd quarter valued at $10,181,000. Align Financial LLC bought a new position in shares of Peoples Bancorp during the 4th quarter valued at $5,318,000. Finally, Empowered Funds LLC purchased a new position in shares of Peoples Bancorp in the 2nd quarter worth $6,622,000. 60.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Matthew Edgell sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was 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 represents a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight Eric Smith bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was acquired at an average cost of $39.81 per share, with a total value of $39,810.00. Following the completion of the acquisition, the director owned 10,256 shares of the company’s stock, valued at $408,291.36. This represents a 10.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.31% of the company’s stock.

Peoples Bancorp Price Performance

PEBO stock opened at $39.66 on Friday. Peoples Bancorp Inc. has a one year low of $27.49 and a one year high of $42.29. The company’s fifty day moving average price is $39.74 and its 200-day moving average price is $35.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $1.43 billion, a PE ratio of 11.98 and a beta of 0.61.

Peoples Bancorp (NASDAQ:PEBO) last posted its earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, beating 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 company had revenue of $121.95 million during the quarter, compared to analysts’ expectations of $120.05 million. On average, equities analysts anticipate that Peoples Bancorp Inc. will post 3.56 EPS for the current fiscal year.

Peoples Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PEBO shares. Piper Sandler set a $46.00 price target on shares of Peoples Bancorp in a research report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a report on Wednesday. DA Davidson boosted their target price on shares of Peoples Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Peoples Bancorp has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.