Segall Bryant & Hamill LLC Has $8.54 Million Stake in Peoples Bancorp Inc. $PEBO

Key Points

• Segall Bryant & Hamill increased its Peoples Bancorp stake by 28.5% to 259,843 shares valued at $8.54 million. Institutional investors collectively own 60.68% of PEBO, with several other firms also expanding their positions.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $42.00. Peoples Bancorp recently exceeded quarterly earnings expectations, reporting $0.96 per share versus the $0.85 consensus estimate.
• The bank declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 4.0% yield. Shares recently traded at $41.66, near the company’s 52-week high of $42.29.

Segall Bryant & Hamill LLC boosted its position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 28.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,843 shares of the bank's stock after acquiring an additional 57,650 shares during the quarter. Segall Bryant & Hamill LLC owned 0.72% of Peoples Bancorp worth $8,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEBO. Raymond James Financial Inc. grew its position in shares of Peoples Bancorp by 422.4% in the 2nd quarter. Raymond James Financial Inc. now owns 349,948 shares of the bank's stock valued at $10,687,000 after acquiring an additional 282,960 shares during the period. Align Financial LLC acquired a new position in shares of Peoples Bancorp during the 4th quarter worth about $5,318,000. UBS Group AG raised its holdings in shares of Peoples Bancorp by 391.8% in the 4th quarter. UBS Group AG now owns 198,742 shares of the bank's stock valued at $5,968,000 after purchasing an additional 158,327 shares during the period. Invesco Ltd. raised its holdings in shares of Peoples Bancorp by 248.8% in the 4th quarter. Invesco Ltd. now owns 211,869 shares of the bank's stock valued at $6,362,000 after purchasing an additional 151,125 shares during the period. Finally, Millennium Management LLC lifted its stake in Peoples Bancorp by 46.9% in the 3rd quarter. Millennium Management LLC now owns 400,064 shares of the bank's stock valued at $11,998,000 after purchasing an additional 127,778 shares during the last quarter. 60.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Dwight Eric Smith purchased 1,000 shares of the business's stock in a transaction dated Thursday, July 23rd. The shares were purchased at an average cost of $39.81 per share, with a total value of $39,810.00. Following the completion of the purchase, the director owned 10,256 shares of the company's stock, valued at $408,291.36. This trade represents a 10.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Peoples Bancorp Price Performance

Peoples Bancorp stock opened at $41.66 on Monday. The stock's fifty day moving average price is $37.63 and its two-hundred day moving average price is $34.66. Peoples Bancorp Inc. has a one year low of $27.49 and a one 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 firm has a market cap of $1.50 billion, a PE ratio of 12.59 and a beta of 0.62.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, topping the consensus estimate 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. As a group, research analysts expect that Peoples Bancorp Inc. will post 3.56 EPS for the current fiscal year.

Peoples Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.68 annualized dividend and a dividend yield of 4.0%. Peoples Bancorp's dividend payout ratio (DPR) is 50.76%.

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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