Ategra Capital Management LLC Purchases Shares of 89,292 Peoples Bancorp Inc. $PEBO

Key Points

• Ategra Capital Management acquired 89,292 shares of Peoples Bancorp worth approximately $3.43 million, representing 0.25% of the bank and about 1.5% of Ategra’s portfolio. Institutional investors collectively own 60.68% of PEBO.
• Peoples Bancorp reported quarterly EPS of $0.96, exceeding analyst estimates of $0.85, while revenue of $121.95 million also surpassed expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $42.
• The company paid a quarterly dividend of $0.42 per share, or $1.68 annualized, producing a 4.2% yield. Recent insider activity included a director’s purchase of 1,000 shares and an insider’s sale of 3,000 shares.

Ategra Capital Management LLC acquired a new stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 89,292 shares of the bank's stock, valued at approximately $3,430,000. Peoples Bancorp comprises about 1.5% of Ategra Capital Management LLC's investment portfolio, making the stock its 17th largest position. Ategra Capital Management LLC owned 0.25% of Peoples Bancorp as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PEBO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Peoples Bancorp in the second quarter worth about $33,000. Larson Financial Group LLC bought a new position in Peoples Bancorp during the third quarter valued at approximately $30,000. Quarry LP purchased a new position in Peoples Bancorp during the 3rd quarter valued at approximately $35,000. Allworth Financial LP purchased a new position in Peoples Bancorp during the 2nd quarter valued at approximately $50,000. Finally, Strs Ohio bought a new stake in Peoples Bancorp in the 1st quarter worth approximately $62,000. Hedge funds and other institutional investors own 60.68% of the company's stock.

Peoples Bancorp Trading Down 0.5%

Shares of NASDAQ PEBO opened at $39.85 on Tuesday. Peoples Bancorp Inc. has a fifty-two week low of $27.49 and a fifty-two week high of $42.29. 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 has a market cap of $1.43 billion, a price-to-earnings ratio of 12.04 and a beta of 0.61. The business's 50 day moving average price is $39.46 and its 200-day moving average price is $35.69.

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 (EPS) for the quarter, beating 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 analysts' expectations of $120.05 million. On average, sell-side analysts expect that Peoples Bancorp Inc. will post 3.56 earnings per share for the current year.

Peoples Bancorp Announces Dividend

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

Analyst Ratings Changes

PEBO has been the topic of several recent research reports. Piper Sandler set a $46.00 price objective on Peoples Bancorp in a report on Wednesday, July 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Peoples Bancorp in a research note on Friday, May 29th. DA Davidson boosted 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of Peoples Bancorp from $38.00 to $42.00 and gave the company a "market perform" rating in a research report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Insider Transactions at Peoples Bancorp

In related news, Director Dwight Eric Smith purchased 1,000 shares of the business's stock in a transaction dated Thursday, July 23rd. The shares were purchased at an average cost of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the acquisition, the director owned 10,256 shares in the company, valued at approximately $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 available at the SEC website. Also, insider Matthew Edgell sold 3,000 shares of the firm's 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 directly owned 20,183 shares in the company, 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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