BlackRock Inc. Takes $13.42 Million Position in Peoples Bancorp Inc. $PEBO

Key Points

• BlackRock initiated a $13.42 million position in Peoples Bancorp, purchasing 311,532 shares, or approximately 0.87% of the bank. Institutional investors and hedge funds collectively own 60.68% of the company.
• Analysts maintain a favorable outlook, with Peoples Bancorp receiving a consensus “Moderate Buy” rating and a $42 average price target; recent targets range from $42 to $46.
• Peoples Bancorp exceeded quarterly earnings expectations, reporting $0.96 EPS versus the $0.85 consensus and $121.95 million in revenue. The company also declared a quarterly dividend of $0.42, equivalent to a 4.2% annualized yield.

BlackRock Inc. bought a new position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 311,532 shares of the bank's stock, valued at approximately $13,424,000. BlackRock Inc. owned approximately 0.87% of Peoples Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC purchased a new stake in Peoples Bancorp in the 4th quarter valued at $1,817,000. UBS Group AG boosted its holdings in Peoples Bancorp by 391.8% during the 4th quarter. UBS Group AG now owns 198,742 shares of the bank's stock worth $5,968,000 after acquiring an additional 158,327 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Peoples Bancorp by 28.5% during the 1st quarter. Segall Bryant & Hamill LLC now owns 259,843 shares of the bank's stock worth $8,541,000 after acquiring an additional 57,650 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Peoples Bancorp by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 2,080,137 shares of the bank's stock worth $62,467,000 after acquiring an additional 48,166 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Peoples Bancorp by 169.7% in the 1st quarter. Quantinno Capital Management LP now owns 44,883 shares of the bank's stock worth $1,475,000 after acquiring an additional 28,243 shares in the last quarter. Institutional investors and hedge funds own 60.68% of the company's stock.

Insider Buying and Selling

In other news, Director Dwight Smith acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The shares were acquired at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the purchase, the director owned 10,256 shares in the company, valued at approximately $408,291.36. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $41.27, for a total value of $123,810.00. Following the transaction, the insider directly owned 20,183 shares of the company's stock, valued at approximately $832,952.41. This trade represents a 12.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.31% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of 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 reissued a "buy (b)" rating on shares of Peoples Bancorp in a research report on Wednesday, August 26th. DA Davidson boosted their target price on Peoples Bancorp from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Finally, Piper Sandler set a $46.00 target price on Peoples Bancorp in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Peoples Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

Peoples Bancorp Trading Up 0.4%

NASDAQ PEBO opened at $39.66 on Friday. The business's fifty day moving average is $39.91 and its 200-day moving average is $36.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 11.98 and a beta of 0.59. Peoples Bancorp Inc. has a one year low of $27.49 and a one year 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.11. The business had revenue of $121.95 million during the quarter, compared to the consensus estimate of $120.05 million. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. Equities research analysts predict that Peoples Bancorp Inc. will post 3.56 EPS for the current year.

Peoples Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were issued a $0.42 dividend. 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 50.76%.

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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