Banc Funds Co. LLC Sells 41,971 Shares of Peoples Bancorp Inc. (NASDAQ:PEBO)

Banc Funds Co. LLC cut its stake in Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 82.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,110 shares of the bank's stock after selling 41,971 shares during the period. Banc Funds Co. LLC's holdings in Peoples Bancorp were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PEBO. AJOVista LLC bought a new position in shares of Peoples Bancorp in the fourth quarter worth about $36,000. FMR LLC raised its stake in shares of Peoples Bancorp by 74.1% during the first quarter. FMR LLC now owns 1,504 shares of the bank's stock worth $39,000 after buying an additional 640 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Peoples Bancorp during the fourth quarter worth approximately $45,000. Quantbot Technologies LP raised its stake in shares of Peoples Bancorp by 60.0% during the first quarter. Quantbot Technologies LP now owns 1,600 shares of the bank's stock worth $50,000 after buying an additional 600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Peoples Bancorp by 46.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,078 shares of the bank's stock worth $53,000 after buying an additional 663 shares during the last quarter. 60.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Hovde Group assumed coverage on shares of Peoples Bancorp in a research note on Monday, April 1st. They set a "market perform" rating and a $31.00 price target for the company. Piper Sandler assumed coverage on shares of Peoples Bancorp in a research note on Friday, February 23rd. They set an "overweight" rating and a $34.00 price target for the company. Finally, StockNews.com raised shares of Peoples Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, March 13th.

Peoples Bancorp Stock Up 1.1 %

Shares of Peoples Bancorp stock traded up $0.32 on Monday, hitting $28.40. The company had a trading volume of 71,967 shares, compared to its average volume of 127,255. The firm has a market capitalization of $1.01 billion, a P/E ratio of 8.21 and a beta of 0.76. Peoples Bancorp Inc. has a twelve month low of $23.05 and a twelve month high of $34.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50-day moving average of $28.39 and a 200-day moving average of $29.12.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.10. The company had revenue of $112.92 million during the quarter, compared to analysts' expectations of $115.00 million. Peoples Bancorp had a net margin of 21.52% and a return on equity of 13.47%. Research analysts predict that Peoples Bancorp Inc. will post 3.39 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Friday, February 2nd. Peoples Bancorp's dividend payout ratio (DPR) is presently 45.09%.

Peoples Bancorp Profile

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; and provides commercial and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.

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