Insider Selling: Peoples Bancorp (NASDAQ:PEBO) EVP Sells 632 Shares of Stock

Key Points

• Peoples Bancorp EVP Michael Kirkham sold 632 shares for approximately $24,187, reducing his holdings by 3.87% to 15,687 shares.
• The bank reported quarterly EPS of $1.04, beating the $0.93 consensus estimate, and revenue of $124.52 million, also above expectations.
• Peoples declared a quarterly dividend of $0.42 per share, equivalent to a 4.4% annualized yield; analysts’ consensus rating is “Moderate Buy,” with a $42 price target.

Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report) EVP Michael Kirkham sold 632 shares of the stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $38.27, for a total transaction of $24,186.64. Following the transaction, the executive vice president owned 15,687 shares of the company's stock, valued at $600,341.49. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Peoples Bancorp Stock Performance

Shares of PEBO traded down $0.07 during trading hours on Friday, hitting $38.20. The company's stock had a trading volume of 58,435 shares, compared to its average volume of 308,563. The business has a 50 day simple moving average of $38.28 and a two-hundred day simple moving average of $36.37. Peoples Bancorp Inc. has a 52-week low of $28.23 and a 52-week 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 company has a market cap of $1.37 billion, a price-to-earnings ratio of 11.27 and a beta of 0.63.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The bank reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. Peoples Bancorp had a net margin of 19.76% and a return on equity of 11.08%. The company had revenue of $124.52 million during the quarter, compared to the consensus estimate of $123.40 million. On average, equities analysts expect that Peoples Bancorp Inc. will post 3.74 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given a $0.42 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.68 annualized dividend and a dividend yield of 4.4%. Peoples Bancorp's payout ratio is 49.56%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PEBO. D.A. Davidson & CO. boosted its stake in Peoples Bancorp by 1.3% during the first quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank's stock valued at $801,000 after buying an additional 320 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of Peoples Bancorp by 5.9% in the 3rd quarter. Pictet Asset Management Holding SA now owns 5,882 shares of the bank's stock valued at $215,000 after acquiring an additional 328 shares in the last quarter. Waverly Advisors LLC raised its holdings in shares of Peoples Bancorp by 3.5% in the 2nd quarter. Waverly Advisors LLC now owns 14,754 shares of the bank's stock valued at $567,000 after acquiring an additional 505 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Peoples Bancorp by 10.0% during the 1st quarter. Royal Bank of Canada now owns 6,586 shares of the bank's stock valued at $216,000 after acquiring an additional 600 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of Peoples Bancorp by 87.0% during the 2nd quarter. Allworth Financial LP now owns 1,307 shares of the bank's stock valued at $50,000 after acquiring an additional 608 shares during the last quarter. Institutional investors own 60.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PEBO. Zacks Research upgraded Peoples Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Peoples Bancorp in a report on Wednesday, August 26th. Piper Sandler upped their price target on Peoples Bancorp from $46.00 to $48.00 and gave the company an "overweight" rating in a research report on Thursday, October 22nd. Keefe, Bruyette & Woods reiterated a "market perform" rating on shares of Peoples Bancorp in a research report on Monday, October 5th. Finally, DA Davidson lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

About Peoples Bancorp

Peoples Bancorp Inc. is a financial holding company headquartered in Marietta, Ohio. Its principal subsidiary, Peoples Bank, provides commercial and consumer banking services to individuals, businesses and local organizations. The company offers deposit accounts, loans, payment services and other banking products, along with services such as wealth management, insurance and equipment financing. Its branches and service areas extend across Ohio, West Virginia, Kentucky and Virginia. Peoples traces its history to 1902, when it was established in Marietta.

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