Vanguard Group Inc. Acquires 48,166 Shares of Peoples Bancorp Inc. $PEBO

Key Points

• Vanguard Group increased its stake in Peoples Bancorp by 2.4% in the fourth quarter, buying 48,166 additional shares and bringing its total holding to 2.08 million shares worth about $62.5 million.
• Peoples Bancorp reported better-than-expected quarterly results, with EPS of $0.82 versus the $0.80 estimate and revenue of $119.33 million versus $118.72 million expected.
• The bank also raised its quarterly dividend to $0.42 per share, implying a 5.0% annual yield, while analysts maintain a consensus Moderate Buy rating with a $37.00 price target.

Vanguard Group Inc. boosted its holdings in Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,080,137 shares of the bank's stock after buying an additional 48,166 shares during the period. Vanguard Group Inc. owned approximately 5.83% of Peoples Bancorp worth $62,467,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PEBO. Larson Financial Group LLC bought a new position in Peoples Bancorp in the 3rd quarter worth approximately $30,000. Quarry LP bought a new position in Peoples Bancorp in the 3rd quarter worth approximately $35,000. State of Alaska Department of Revenue bought a new position in Peoples Bancorp in the 3rd quarter worth approximately $42,000. Strs Ohio bought a new position in Peoples Bancorp in the 1st quarter worth approximately $62,000. Finally, Accredited Wealth Management LLC grew its holdings in shares of Peoples Bancorp by 524.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 2,184 shares of the bank's stock worth $65,000 after purchasing an additional 1,834 shares in the last quarter. 60.68% of the stock is owned by institutional investors.

Peoples Bancorp Price Performance

Shares of NASDAQ:PEBO opened at $33.35 on Friday. Peoples Bancorp Inc. has a 1-year low of $27.49 and a 1-year high of $35.46. The firm has a market capitalization of $1.20 billion, a PE ratio of 10.69 and a beta of 0.63. The business's 50 day moving average is $33.21 and its 200-day moving average is $31.80. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The bank reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. The business had revenue of $119.33 million for the quarter, compared to analyst estimates of $118.72 million. Peoples Bancorp had a return on equity of 9.75% and a net margin of 17.92%. Sell-side analysts predict that Peoples Bancorp Inc. will post 3.41 earnings per share for the current year.

Peoples Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 18th. Investors of record on Monday, May 4th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $1.68 annualized dividend and a yield of 5.0%. This is a positive change from Peoples Bancorp's previous quarterly dividend of $0.41. Peoples Bancorp's payout ratio is presently 53.85%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PEBO. Weiss Ratings raised Peoples Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, January 27th. DA Davidson lifted their price objective on Peoples Bancorp from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Hovde Group lifted their price objective on Peoples Bancorp from $33.00 to $36.00 and gave the stock a "market perform" rating in a report on Wednesday, April 22nd. Finally, Piper Sandler lifted their price objective on Peoples Bancorp from $37.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Insider Activity at Peoples Bancorp

In related news, EVP Michael Ryan Kirkham sold 986 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $32.47, for a total value of $32,015.42. Following the sale, the executive vice president owned 16,289 shares of the company's stock, valued at $528,903.83. The trade was a 5.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carol A. Schneeberger sold 1,895 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $31.37, for a total value of $59,446.15. Following the completion of the sale, the director directly owned 19,309 shares in the company, valued at approximately $605,723.33. This represents a 8.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,881 shares of company stock valued at $122,872 in the last 90 days. 3.31% of the stock is owned by corporate insiders.

Peoples Bancorp 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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