Peoples Bancorp Inc. $PEBO Position Lessened by Northern Trust Corp

Key Points

• Northern Trust Corp recently reduced its stake in Peoples Bancorp Inc. by 3.4%, selling 11,557 shares and now holding 327,012 shares valued at approximately $9.7 million.
• Peoples Bancorp reported $0.60 EPS for the last quarter, missing analysts' expectations of $0.78, while revenue reached $115.02 million, slightly above projections.
• The company announced a quarterly dividend of $0.41, resulting in an annualized dividend yield of 5.3%, with a payout ratio of 56.16%.

Northern Trust Corp reduced its position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 327,012 shares of the bank's stock after selling 11,557 shares during the quarter. Northern Trust Corp owned about 0.92% of Peoples Bancorp worth $9,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in Peoples Bancorp by 55.0% during the 4th quarter. Deutsche Bank AG now owns 29,279 shares of the bank's stock valued at $928,000 after purchasing an additional 10,394 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Peoples Bancorp by 55.3% during the 1st quarter. New York State Common Retirement Fund now owns 18,815 shares of the bank's stock valued at $558,000 after purchasing an additional 6,700 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Peoples Bancorp during the 1st quarter valued at $289,000. Principal Financial Group Inc. lifted its position in shares of Peoples Bancorp by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 19,137 shares of the bank's stock valued at $568,000 after acquiring an additional 707 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Peoples Bancorp by 3.6% during the 4th quarter. Cetera Investment Advisers now owns 22,488 shares of the bank's stock valued at $713,000 after acquiring an additional 782 shares during the last quarter. 60.68% of the stock is owned by institutional investors.

Peoples Bancorp Price Performance

Shares of NASDAQ:PEBO traded up $0.20 on Thursday, reaching $30.63. 115,124 shares of the company traded hands, compared to its average volume of 130,787. Peoples Bancorp Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $37.07. The company's 50 day moving average is $30.28 and its 200-day moving average is $29.79. The stock has a market capitalization of $1.09 billion, a PE ratio of 10.49 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The bank reported $0.60 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.18). The business had revenue of $115.02 million during the quarter, compared to analyst estimates of $113.20 million. Peoples Bancorp had a return on equity of 9.46% and a net margin of 16.88%. As a group, analysts anticipate that Peoples Bancorp Inc. will post 3.28 earnings per share for the current fiscal year.

Peoples Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Monday, August 4th. Peoples Bancorp's dividend payout ratio (DPR) is 56.16%.

Insider Buying and Selling at Peoples Bancorp

In other news, Director Dwight Eric Smith acquired 1,060 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was acquired at an average cost of $30.27 per share, for a total transaction of $32,086.20. Following the completion of the acquisition, the director owned 6,999 shares in the company, valued at approximately $211,859.73. The trade was a 17.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.83, for a total value of $30,830.00. Following the sale, the director owned 24,330 shares of the company's stock, valued at approximately $750,093.90. This represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods increased 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. Wall Street Zen downgraded Peoples Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.