Patriot Financial Partners GP LP Makes New Investment in Peoples Bancorp Inc. $PEBO

Key Points

• Patriot Financial Partners GP LP purchased 15,689 shares of Peoples Bancorp Inc., valued at approximately $465,000, making it the fund's 10th largest holding.
• Peoples Bancorp reported Q2 earnings of $0.60 per share, missing estimates, but generated revenue of $115.02 million, surpassing analyst expectations.
• The company announced a quarterly dividend of $0.41 per share, reflecting an annualized dividend yield of 5.6%, with the ex-dividend date set for August 4th.

Patriot Financial Partners GP LP bought a new stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,689 shares of the bank's stock, valued at approximately $465,000. Peoples Bancorp makes up approximately 0.2% of Patriot Financial Partners GP LP's portfolio, making the stock its 10th biggest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in Peoples Bancorp by 815.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,108 shares of the bank's stock valued at $35,000 after buying an additional 987 shares during the last quarter. GAMMA Investing LLC raised its holdings in Peoples Bancorp by 1,426.3% in the first quarter. GAMMA Investing LLC now owns 2,610 shares of the bank's stock worth $77,000 after buying an additional 2,439 shares during the last quarter. CWM LLC lifted its stake in shares of Peoples Bancorp by 86.7% in the first quarter. CWM LLC now owns 4,976 shares of the bank's stock worth $148,000 after buying an additional 2,311 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Peoples Bancorp during the fourth quarter valued at approximately $215,000. Finally, Moody National Bank Trust Division bought a new stake in shares of Peoples Bancorp during the first quarter valued at approximately $229,000. Hedge funds and other institutional investors own 60.68% of the company's stock.

Peoples Bancorp Stock Performance

Peoples Bancorp stock traded up $1.2890 during trading on Friday, reaching $30.7990. The company had a trading volume of 73,099 shares, compared to its average volume of 156,474. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 10.55 and a beta of 0.67. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. The firm's 50-day simple moving average is $30.04 and its 200 day simple moving average is $29.99. Peoples Bancorp Inc. has a 52 week low of $26.21 and a 52 week high of $37.07.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.60 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.18). Peoples Bancorp had a return on equity of 9.46% and a net margin of 16.88%.The company had revenue of $115.02 million during the quarter, compared to the consensus estimate of $113.20 million. Sell-side analysts forecast that Peoples Bancorp Inc. will post 3.28 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Monday, August 4th. Peoples Bancorp's dividend payout ratio is presently 56.16%.

Insider Buying and Selling

In other Peoples Bancorp news, Director Dwight Eric Smith purchased 1,060 shares of the business's stock in a transaction on Thursday, July 24th. The stock was acquired at an average price of $30.27 per share, for a total transaction of $32,086.20. Following the purchase, the director owned 6,999 shares of the company's stock, valued at approximately $211,859.73. This represents a 17.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carol A. Schneeberger sold 1,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $31.76, for a total transaction of $31,760.00. Following the transaction, the director owned 25,330 shares of the company's stock, valued at approximately $804,480.80. This represents a 3.80% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.41% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on PEBO. Wall Street Zen downgraded Peoples Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods lifted their price objective on Peoples Bancorp from $32.00 to $33.00 and gave the stock a "market perform" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.25.

Peoples Bancorp Profile

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; and provides commercial and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.