38,000 Shares in Peoples Bancorp Inc. $PEBO Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC bought 38,000 Peoples Bancorp shares worth approximately $1.64 million, while institutional investors collectively own 60.68% of the bank’s stock.
• Peoples Bancorp exceeded quarterly earnings expectations, reporting $0.96 in EPS versus the $0.85 consensus estimate and revenue of $121.95 million. The company also pays a quarterly dividend of $0.42, representing a 4.2% annualized yield.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $42, compared with the stock’s recent price of $39.66.

Empowered Funds LLC purchased a new position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,000 shares of the bank's stock, valued at approximately $1,637,000. Empowered Funds LLC owned approximately 0.11% of Peoples Bancorp at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in shares of Peoples Bancorp in the 3rd quarter valued at about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Peoples Bancorp in the 2nd quarter valued at about $33,000. Quarry LP acquired a new stake in Peoples Bancorp in the 3rd quarter valued at about $35,000. Allworth Financial LP acquired a new stake in Peoples Bancorp in the 2nd quarter valued at about $50,000. Finally, Strs Ohio bought a new position in Peoples Bancorp during the first quarter worth about $62,000. Institutional investors and hedge funds own 60.68% of the company's stock.

Peoples Bancorp Trading Up 0.4%

Shares of PEBO stock opened at $39.66 on Friday. Peoples Bancorp Inc. has a 12-month low of $27.49 and a 12-month high of $42.29. The company has a market capitalization of $1.43 billion, a PE ratio of 11.98 and a beta of 0.59. The firm has a 50 day moving average price of $39.91 and a two-hundred day moving average price of $36.02. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13.

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, beating the consensus estimate 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%. As a group, analysts predict that Peoples Bancorp Inc. will post 3.56 earnings per share for the current year.

Peoples Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PEBO shares. DA Davidson upped their price objective on Peoples Bancorp from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their price target on Peoples Bancorp from $38.00 to $42.00 and gave the company a "market perform" rating in a research note on Wednesday, July 22nd. Piper Sandler set a $46.00 price objective on shares of Peoples Bancorp in a research report 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.00.

Insiders Place Their Bets

In other news, Director Dwight Smith acquired 1,000 shares of the stock in a transaction on Thursday, July 23rd. The shares were purchased at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the transaction, the director directly owned 10,256 shares of the company's stock, valued at approximately $408,291.36. This represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Edgell sold 3,000 shares of Peoples Bancorp stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total value of $123,810.00. Following the sale, the insider directly 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. Corporate insiders own 3.31% of the company's stock.

About Peoples Bancorp

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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