Ieq Capital LLC Makes New Investment in Peoples Bancorp Inc. $PEBO

Key Points

• Ieq Capital LLC acquired 69,018 shares of Peoples Bancorp in the second quarter, worth approximately $2.65 million. Institutional investors collectively own 60.68% of the bank’s outstanding stock.
• Peoples Bancorp reported quarterly EPS of $0.96, beating analysts’ $0.85 estimate, while revenue of $121.95 million also exceeded expectations. The company pays a quarterly dividend of $0.42, representing a 4.2% annualized yield.
• Shares opened at $39.85, near their 52-week high of $42.29. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $42.00, although insider transactions were mixed: one director bought shares while another insider sold.

Ieq Capital LLC acquired a new stake in Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 69,018 shares of the bank's stock, valued at approximately $2,651,000. Ieq Capital LLC owned approximately 0.19% of Peoples Bancorp at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Larson Financial Group LLC bought a new position in shares of Peoples Bancorp in the third quarter worth $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Peoples Bancorp during the second quarter worth about $33,000. Quarry LP acquired a new stake in Peoples Bancorp during the third quarter worth about $35,000. Allworth Financial LP acquired a new stake in Peoples Bancorp during the second quarter worth about $50,000. Finally, Strs Ohio bought a new position in Peoples Bancorp in the 1st quarter valued at about $62,000. 60.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Dwight Eric Smith bought 1,000 shares of the stock in a transaction on Thursday, July 23rd. The stock was acquired at an average price of $39.81 per share, with a total value of $39,810.00. Following the acquisition, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $41.27, for a total value of $123,810.00. Following the completion of the transaction, the insider directly owned 20,183 shares of the company's stock, valued at approximately $832,952.41. The trade was a 12.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.31% of the stock is currently owned by corporate insiders.

Peoples Bancorp Trading Down 0.5%

Shares of Peoples Bancorp stock opened at $39.85 on Tuesday. The firm has a market capitalization of $1.43 billion, a PE ratio of 12.04 and a beta of 0.61. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average is $39.46 and its 200 day moving average is $35.69. Peoples Bancorp Inc. has a 1 year low of $27.49 and a 1 year high of $42.29.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last released 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. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. The business had revenue of $121.95 million during the quarter, compared to analysts' expectations of $120.05 million. Equities research analysts forecast that Peoples Bancorp Inc. will post 3.56 earnings per share for the current fiscal year.

Peoples Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were paid 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 was Monday, August 3rd. Peoples Bancorp's dividend payout ratio is presently 50.76%.

Analyst Upgrades and Downgrades

PEBO has been the subject of several analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Peoples Bancorp in a research report on Friday, May 29th. DA Davidson boosted their price objective on shares of 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 upped their target price on Peoples Bancorp from $38.00 to $42.00 and gave the stock a "market perform" 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source