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

BlackRock Inc. purchased a new stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,335,413 shares of the bank's stock, valued at approximately $128,113,000. BlackRock Inc. owned 9.28% of Peoples Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEBO. Jackson Creek Investment Advisors LLC purchased a new position in Peoples Bancorp during the fourth quarter valued at approximately $1,817,000. UBS Group AG increased its holdings in shares of Peoples Bancorp by 391.8% in the fourth quarter. UBS Group AG now owns 198,742 shares of the bank's stock worth $5,968,000 after purchasing an additional 158,327 shares during the period. Segall Bryant & Hamill LLC raised its position in shares of Peoples Bancorp by 28.5% in the first quarter. Segall Bryant & Hamill LLC now owns 259,843 shares of the bank's stock worth $8,541,000 after buying an additional 57,650 shares in the last quarter. AMG National Trust Bank bought a new stake in Peoples Bancorp during the second quarter valued at $1,433,000. Finally, Vanguard Group Inc. boosted its stake in Peoples Bancorp by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,080,137 shares of the bank's stock valued at $62,467,000 after buying an additional 48,166 shares during the period. 60.68% of the stock is owned by institutional investors and hedge funds.

Peoples Bancorp Stock Performance

Shares of PEBO stock opened at $39.66 on Friday. The company has a market capitalization of $1.43 billion, a P/E ratio of 11.98 and a beta of 0.61. 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 stock has a 50 day moving average price of $39.74 and a two-hundred day moving average price of $35.84.

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

Peoples Bancorp Announces Dividend

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

Insider Buying and Selling

In other Peoples Bancorp news, Director Dwight Eric Smith bought 1,000 shares of Peoples Bancorp stock in a transaction dated Thursday, July 23rd. The shares were purchased at an average cost of $39.81 per share, with a total value of $39,810.00. Following the completion of the purchase, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the company's stock in a transaction that occurred 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 owned 20,183 shares of the company's stock, valued at approximately $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.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PEBO. DA Davidson raised their price target on Peoples Bancorp from $41.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Peoples Bancorp in a research report on Wednesday. Piper Sandler set a $46.00 target price on shares of Peoples Bancorp in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods raised 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 note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Peoples Bancorp presently has an average rating of "Moderate Buy" and an average target price 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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