Denali Advisors LLC Buys Shares of 23,411 Peoples Bancorp Inc. (NASDAQ:PEBO)

Denali Advisors LLC acquired a new stake in Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 23,411 shares of the bank's stock, valued at approximately $694,000. Denali Advisors LLC owned approximately 0.07% of Peoples Bancorp as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Sterling Capital Management LLC boosted its stake in Peoples Bancorp by 815.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,108 shares of the bank's stock worth $35,000 after buying an additional 987 shares in the last quarter. GAMMA Investing LLC boosted its stake in Peoples Bancorp by 1,426.3% in the first quarter. GAMMA Investing LLC now owns 2,610 shares of the bank's stock worth $77,000 after buying an additional 2,439 shares in the last quarter. CWM LLC boosted its stake in Peoples Bancorp by 86.7% in the first quarter. CWM LLC now owns 4,976 shares of the bank's stock worth $148,000 after buying an additional 2,311 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Peoples Bancorp in the fourth quarter worth approximately $215,000. Finally, Moody National Bank Trust Division purchased a new stake in Peoples Bancorp in the first quarter worth approximately $229,000. Institutional investors own 60.68% of the company's stock.

Peoples Bancorp Stock Performance

Shares of Peoples Bancorp stock traded down $0.07 on Monday, reaching $31.55. 152,881 shares of the stock were exchanged, compared to its average volume of 137,277. The business has a 50 day moving average price of $30.35 and a two-hundred day moving average price of $30.38. Peoples Bancorp Inc. has a twelve month low of $26.21 and a twelve month high of $37.07. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.02 and a beta of 0.65. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.04). The firm had revenue of $113.00 million during the quarter, compared to analyst estimates of $112.76 million. Peoples Bancorp had a net margin of 18.10% and a return on equity of 10.36%. During the same period in the prior year, the firm earned $0.85 earnings per share. Analysts anticipate that Peoples Bancorp Inc. will post 3.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $31.76, for a total value of $31,760.00. Following the completion of the transaction, the director owned 25,330 shares of the company's stock, valued at approximately $804,480.80. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 1,962 shares of company stock valued at $61,110 in the last ninety days. 3.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on PEBO shares. DA Davidson lowered their price objective on Peoples Bancorp from $39.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded Peoples Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Keefe, Bruyette & Woods boosted their price objective on Peoples Bancorp from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Friday, July 11th. Finally, Stephens decreased their target price on Peoples Bancorp from $37.50 to $33.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Peoples Bancorp presently has an average rating of "Hold" and a consensus price target of $35.25.

Peoples Bancorp Profile

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; and provides commercial and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.