Renaissance Technologies LLC Lowers Position in Peoples Bancorp Inc. $PEBO

Key Points

• Renaissance Technologies cut its Peoples Bancorp stake by 81% in the first quarter, selling 65,375 shares and retaining 15,311 shares valued at approximately $503,000. Institutional investors collectively own 60.68% of PEBO.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $42.00. Recent targets range from $36 to $46.
• Peoples Bancorp exceeded quarterly expectations, reporting EPS of $0.96 versus the $0.85 consensus and revenue of $121.95 million. The company also paid a quarterly dividend of $0.42 per share, equivalent to a 4.1% annualized yield.

Renaissance Technologies LLC decreased its position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 81.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 15,311 shares of the bank's stock after selling 65,375 shares during the period. Renaissance Technologies LLC's holdings in Peoples Bancorp were worth $503,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PEBO. D.A. Davidson & CO. lifted its stake in shares of Peoples Bancorp by 1.3% in the 1st quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank's stock valued at $801,000 after purchasing an additional 320 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Peoples Bancorp by 1.6% during the fourth quarter. Cetera Investment Advisers now owns 24,348 shares of the bank's stock valued at $731,000 after purchasing an additional 385 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Peoples Bancorp by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank's stock valued at $508,000 after buying an additional 400 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Peoples Bancorp by 1.2% in the 4th quarter. Pathway Financial Advisers LLC now owns 35,520 shares of the bank's stock worth $1,067,000 after purchasing an additional 414 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Peoples Bancorp by 2.8% during the fourth quarter. Inspire Investing LLC now owns 15,582 shares of the bank's stock valued at $468,000 after buying an additional 420 shares during the last quarter. Institutional investors own 60.68% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEBO. Piper Sandler set a $46.00 price objective on shares of Peoples Bancorp in a report on Wednesday, July 22nd. DA Davidson increased their target price on Peoples Bancorp from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Hovde Group boosted their price target on Peoples Bancorp from $33.00 to $36.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods upped their price target on Peoples Bancorp from $38.00 to $42.00 and gave the company a "market perform" rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Peoples Bancorp in a report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Peoples Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

Peoples Bancorp Price Performance

NASDAQ PEBO opened at $41.07 on Tuesday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.41 and a beta of 0.61. Peoples Bancorp Inc. has a 1-year low of $27.49 and a 1-year high of $42.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. The business's fifty day moving average price is $39.05 and its 200-day moving average price is $35.41.

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

Peoples Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders 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 4.1%. The ex-dividend date of this dividend was Monday, August 3rd. Peoples Bancorp's dividend payout ratio is currently 50.76%.

Insider Activity at Peoples Bancorp

In related news, insider Matthew Edgell sold 3,000 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was 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. This trade represents a 12.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight Eric Smith bought 1,000 shares of the stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the transaction, the director directly owned 10,256 shares of the company's stock, valued at $408,291.36. This represents a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.31% of the stock is currently owned by company insiders.

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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