265,067 Shares in Peoples Bancorp Inc. $PEBO Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 265,067 Peoples Bancorp shares worth approximately $10.2 million, taking a 0.74% stake. Institutional investors collectively own 60.68% of the company.
• Peoples Bancorp reported quarterly earnings of $0.96 per share, exceeding estimates of $0.85, while revenue of $121.95 million also topped expectations. The bank maintains a quarterly dividend of $0.42 per share, yielding about 4.3% annually.
• PEBO recently traded at $39.50, near its 12-month high of $42.29. Analysts have a “Moderate Buy” consensus with an average price target of $42.00, while insider activity included one director purchase and one insider sale.

Bank of New York Mellon Corp acquired a new position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 265,067 shares of the bank's stock, valued at approximately $10,181,000. Bank of New York Mellon Corp owned 0.74% of Peoples Bancorp at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. D.A. Davidson & CO. grew its stake in Peoples Bancorp by 1.3% during the first quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank's stock worth $801,000 after buying an additional 320 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Peoples Bancorp by 1.6% in the 4th quarter. Cetera Investment Advisers now owns 24,348 shares of the bank's stock valued at $731,000 after buying an additional 385 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Peoples Bancorp by 2.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank's stock worth $508,000 after acquiring an additional 400 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of Peoples Bancorp by 1.2% during the 4th quarter. Pathway Financial Advisers LLC now owns 35,520 shares of the bank's stock worth $1,067,000 after acquiring an additional 414 shares during the period. Finally, Inspire Investing LLC boosted its position in shares of Peoples Bancorp by 2.8% during the 4th quarter. Inspire Investing LLC now owns 15,582 shares of the bank's stock worth $468,000 after acquiring an additional 420 shares in the last quarter. 60.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Peoples Bancorp news, insider Matthew Edgell sold 3,000 shares of Peoples Bancorp stock in a transaction dated 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 owned 20,183 shares in the company, valued at approximately $832,952.41. The trade was a 12.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight Eric Smith acquired 1,000 shares of the firm's stock in a transaction on Thursday, July 23rd. The shares were bought 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 directly owned 10,256 shares in the company, valued at approximately $408,291.36. This represents a 10.80% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.31% of the company's stock.

Peoples Bancorp Price Performance

PEBO stock opened at $39.50 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 11.93 and a beta of 0.59. The company's fifty day simple moving average is $39.87 and its 200 day simple moving average is $35.97. Peoples Bancorp Inc. has a 12-month low of $27.49 and a 12-month high of $42.29.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.11. Peoples Bancorp had a return on equity of 10.71% and a net margin of 19.17%.The firm had revenue of $121.95 million during the quarter, compared to analyst estimates of $120.05 million. On average, analysts expect that Peoples Bancorp Inc. will post 3.56 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, August 3rd. Peoples Bancorp's dividend payout ratio is 50.76%.

Analyst Ratings Changes

Several analysts recently weighed in on PEBO shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Peoples Bancorp in a research note on Wednesday, August 26th. Piper Sandler set a $46.00 price objective on shares of Peoples Bancorp in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Peoples Bancorp from $38.00 to $42.00 and gave the company a "market perform" rating in a research note on Wednesday, July 22nd. Finally, DA Davidson raised 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. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.

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