Peoples Bancorp (NASDAQ:PEBO) EVP Sells 2,650 Shares of Company Stock

Key Points

• Insider sale: EVP Hugh Donlon sold 2,650 Peoples Bancorp shares for approximately $101,018, reducing his position by 12.61% to 18,365 shares.
• Quarterly performance: Peoples Bancorp reported earnings of $1.04 per share, beating estimates by $0.11, while revenue of $124.52 million also exceeded expectations.
• Investor outlook: The company declared a quarterly dividend of $0.42 per share, representing a 4.4% yield, and analysts maintain a “Moderate Buy” consensus with a $42 price target.

Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report) EVP Hugh Donlon sold 2,650 shares of Peoples Bancorp stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $38.12, for a total value of $101,018.00. Following the completion of the transaction, the executive vice president owned 18,365 shares in the company, valued at $700,073.80. The trade was a 12.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Peoples Bancorp Trading Up 0.0%

PEBO stock traded up $0.01 during trading on Friday, reaching $38.20. 545,319 shares of the stock traded hands, compared to its average volume of 303,053. The firm has a market capitalization of $1.37 billion, a PE ratio of 11.27 and a beta of 0.62. 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 50 day moving average price is $38.66 and its 200-day moving average price is $37.40. Peoples Bancorp Inc. has a 52-week low of $28.01 and a 52-week high of $42.29.

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 analysts' consensus estimates of $0.93 by $0.11. The company had revenue of $124.52 million for the quarter, compared to the consensus estimate of $123.40 million. Peoples Bancorp had a return on equity of 11.10% and a net margin of 19.76%. As a group, sell-side analysts forecast that Peoples Bancorp Inc. will post 3.69 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a dividend of $0.42 per share. 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 presently 50.76%.

Institutional Trading of Peoples Bancorp

Several hedge funds have recently made changes to their positions in PEBO. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Peoples Bancorp in the second quarter worth $33,000. Allworth Financial LP acquired a new stake in shares of Peoples Bancorp in the 2nd quarter worth about $50,000. PNC Financial Services Group Inc. lifted its position in Peoples Bancorp by 39.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,558 shares of the bank's stock valued at $150,000 after purchasing an additional 1,301 shares during the last quarter. Deutsche Bank AG acquired a new position in Peoples Bancorp during the 2nd quarter valued at about $190,000. Finally, Algert Global LLC acquired a new position in Peoples Bancorp during the 2nd quarter valued at about $201,000. Institutional investors own 60.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PEBO shares. Piper Sandler upped their target price on Peoples Bancorp from $46.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday. Zacks Research raised shares of Peoples Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 1st. DA Davidson decreased their price objective on shares of Peoples Bancorp from $44.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, October 1st. Keefe, Bruyette & Woods reissued a "market perform" rating on shares of Peoples Bancorp in a report on Monday, October 5th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Peoples Bancorp in a research report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Peoples Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $42.00.

Peoples Bancorp Company 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 public-sector customers.

Peoples Bank offers deposit accounts, residential and commercial lending, consumer loans, credit cards, treasury management and other financial services. The company also provides wealth management, trust and investment services, as well as insurance products through affiliated 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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