Sei Investments Co. Grows Position in Peoples Bancorp Inc. $PEBO

Sei Investments Co. raised its stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 212.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 75,628 shares of the bank’s stock after purchasing an additional 51,445 shares during the period. Sei Investments Co. owned 0.21% of Peoples Bancorp worth $2,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of Peoples Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,270,134 shares of the bank’s stock valued at $74,619,000 after buying an additional 21,273 shares in the last quarter. Vanguard Group Inc. increased its holdings in 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 increased its holdings in Peoples Bancorp by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 877,629 shares of the bank’s stock worth $26,360,000 after acquiring an additional 3,427 shares in the last quarter. Millennium Management LLC raised its stake in Peoples Bancorp by 18.1% during the 4th quarter. Millennium Management LLC now owns 472,456 shares of the bank’s stock worth $14,188,000 after acquiring an additional 72,392 shares during the period. Finally, Raymond James Financial Inc. raised its stake in Peoples Bancorp by 27.8% during the 3rd quarter. Raymond James Financial Inc. now owns 447,339 shares of the bank’s stock worth $13,416,000 after acquiring an additional 97,391 shares during the period. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Price Performance

PEBO stock opened at $40.93 on Friday. 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’s fifty day moving average price is $38.30 and its 200-day moving average price is $35.00. Peoples Bancorp Inc. has a one year low of $27.49 and a one year high of $42.29. The company has a market capitalization of $1.47 billion, a PE ratio of 12.37 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. The company had revenue of $121.95 million during the quarter, compared to analysts’ expectations of $120.05 million. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. 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 announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, August 3rd. Peoples Bancorp’s payout ratio is 50.76%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PEBO shares. Keefe, Bruyette & Woods increased their price objective on shares of Peoples Bancorp from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a research note on Friday, May 29th. DA Davidson upped their target price on shares of Peoples Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Hovde Group increased their price target on Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler set a $46.00 price objective on Peoples Bancorp in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Peoples Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Activity

In other news, Director Dwight Eric Smith purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was bought at an average cost of $39.81 per share, with a total value of $39,810.00. Following the completion of the purchase, the director owned 10,256 shares in the company, valued at approximately $408,291.36. This represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.27, for a total value of $123,810.00. Following the transaction, the insider owned 20,183 shares of the company’s stock, valued at $832,952.41. This represents a 12.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 3.31% of the company’s stock.

Peoples Bancorp 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.