AMG National Trust Bank Purchases Shares of 33,252 Peoples Bancorp Inc. $PEBO

Key Points

• AMG National Trust Bank acquired 33,252 shares of Peoples Bancorp, valued at approximately $1.43 million. Institutional investors collectively own 60.68% of the bank’s outstanding stock.
• Peoples Bancorp reported quarterly earnings of $0.96 per share and revenue of $121.95 million, exceeding analyst estimates of $0.85 and $120.05 million, respectively.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $42.00. The company also declared a quarterly dividend of $0.42 per share, representing a 4.1% annualized yield.

AMG National Trust Bank bought a new stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 33,252 shares of the bank's stock, valued at approximately $1,433,000. AMG National Trust Bank owned about 0.09% of Peoples Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. increased its holdings in shares of Peoples Bancorp by 422.4% in the 2nd quarter. Raymond James Financial Inc. now owns 349,948 shares of the bank's stock worth $10,687,000 after buying an additional 282,960 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Peoples Bancorp during the second quarter worth approximately $10,181,000. Align Financial LLC bought a new stake in Peoples Bancorp during the fourth quarter worth approximately $5,318,000. UBS Group AG raised its position in Peoples Bancorp by 391.8% during the fourth quarter. UBS Group AG now owns 198,742 shares of the bank's stock valued at $5,968,000 after purchasing an additional 158,327 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Peoples Bancorp by 248.8% in the 4th quarter. Invesco Ltd. now owns 211,869 shares of the bank's stock worth $6,362,000 after purchasing an additional 151,125 shares during the period. 60.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEBO has been the subject of several analyst reports. Piper Sandler set a $46.00 target price on shares of Peoples Bancorp in a report on Wednesday, July 22nd. DA Davidson boosted their target price on Peoples Bancorp from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their price target on Peoples Bancorp from $38.00 to $42.00 and gave the stock a "market perform" rating in a report on Wednesday, July 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Peoples Bancorp in a report on Friday, May 29th. Finally, Hovde Group increased their target price 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. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.00.

Peoples Bancorp Stock Performance

Shares of PEBO stock opened at $41.38 on Monday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 12.50 and a beta of 0.61. Peoples Bancorp Inc. has a 52-week low of $27.49 and a 52-week high of $42.29. 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 company's 50 day moving average is $38.94 and its 200 day moving average is $35.35.

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

Peoples Bancorp Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, August 3rd. Peoples Bancorp's dividend payout ratio (DPR) is currently 50.76%.

Insider Transactions at Peoples Bancorp

In related news, Director Dwight Eric Smith acquired 1,000 shares of the firm's stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average cost of $39.81 per share, with a total value of $39,810.00. Following the transaction, the director directly owned 10,256 shares of the company's stock, valued at $408,291.36. This trade represents a 10.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the business's 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 sale, 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 SEC filing for this sale provides additional information. 3.31% of the stock is currently owned by company insiders.

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.

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