Peoples Bancorp Inc. $PEBO Stock Sold by Community Trust & Investment Co.

Key Points

• Community Trust & Investment Co. reduced its Peoples Bancorp stake by 38.3% in the third quarter, selling 64,946 shares and retaining 104,549 shares worth approximately $3.83 million. Institutional investors and hedge funds collectively own 60.68% of PEBO.
• Peoples Bancorp reported quarterly earnings of $0.96 per share, exceeding analysts’ $0.85 estimate, while revenue reached $121.95 million. The bank also pays a quarterly dividend of $0.42 per share, representing a 4.6% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $40.50, compared with the stock’s reported opening price of $36.62; ratings range from Hold to Strong Buy.

Community Trust & Investment Co. trimmed its holdings in Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 38.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,549 shares of the bank's stock after selling 64,946 shares during the quarter. Community Trust & Investment Co. owned about 0.29% of Peoples Bancorp worth $3,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Engineers Gate Manager LP grew its holdings in shares of Peoples Bancorp by 13.7% during the 2nd quarter. Engineers Gate Manager LP now owns 8,504 shares of the bank's stock worth $327,000 after purchasing an additional 1,023 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Peoples Bancorp during the second quarter worth $207,000. Allworth Financial LP grew its stake in shares of Peoples Bancorp by 87.0% in the second quarter. Allworth Financial LP now owns 1,307 shares of the bank's stock valued at $50,000 after buying an additional 608 shares in the last quarter. Waverly Advisors LLC lifted its stake in Peoples Bancorp by 3.5% during the 2nd quarter. Waverly Advisors LLC now owns 14,754 shares of the bank's stock worth $567,000 after acquiring an additional 505 shares in the last quarter. Finally, Corient Private Wealth LP purchased a new position in Peoples Bancorp during the 2nd quarter valued at about $324,000. 60.68% of the stock is owned by institutional investors and hedge funds.

Peoples Bancorp Price Performance

Shares of NASDAQ PEBO opened at $36.62 on Friday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 11.06 and a beta of 0.62. Peoples Bancorp Inc. has a 1-year low of $27.49 and a 1-year high of $42.29. The business has a 50-day moving average of $39.03 and a 200-day moving average of $37.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.11. Peoples Bancorp had a return on equity of 10.71% and a net margin of 19.17%. The business had revenue of $121.95 million during the quarter, compared to the consensus estimate of $120.05 million. On average, equities analysts anticipate that Peoples Bancorp Inc. will post 3.63 EPS for the current fiscal year.

Peoples Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, August 3rd. Peoples Bancorp's payout ratio is 50.76%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PEBO shares. DA Davidson reduced their price objective on shares of Peoples Bancorp from $44.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, October 1st. Keefe, Bruyette & Woods reaffirmed a "market perform" rating on shares of Peoples Bancorp in a report on Monday, October 5th. Zacks Research raised shares of Peoples Bancorp from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 1st. Piper Sandler set a $42.00 target price on shares of Peoples Bancorp in a research note on Monday, October 5th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Peoples Bancorp in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Peoples Bancorp has a consensus rating of "Moderate Buy" and an average price target of $40.50.

Insider Activity

In related news, Director Dwight Smith purchased 1,000 shares of Peoples Bancorp stock in a transaction dated Thursday, July 23rd. The stock was bought at an average cost of $39.81 per share, with a total value of $39,810.00. Following the purchase, the director owned 10,256 shares in the company, valued at approximately $408,291.36. The trade was a 10.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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. The trade was a 12.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.31% of the stock is currently owned by company insiders.

Peoples Bancorp Profile

Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Peoples Bank offers consumer and commercial deposit accounts, residential and commercial real estate loans, consumer lending, mortgage services, treasury management and other business financing solutions. The company also provides wealth management, trust, investment and insurance services through affiliated or related operations.

Founded in 1902, Peoples Bancorp serves communities primarily in Ohio, West Virginia, Kentucky and Virginia through a network of banking offices and digital banking channels.

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