Odyssean LLC Invests $1.05 Million in Peoples Bancorp Inc. $PEBO

Odyssean LLC bought a new stake in Peoples Bancorp Inc. (NASDAQ:PEBO) during the second quarter, HoldingsChannel reports. The firm bought 27,226 shares of the bank’s stock, valued at approximately $1,046,000.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC bought a new stake in Peoples Bancorp in the third quarter valued at about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Peoples Bancorp during the second quarter valued at approximately $33,000. Quarry LP bought a new position in Peoples Bancorp during the 3rd quarter worth approximately $35,000. Allworth Financial LP bought a new position in Peoples Bancorp during the 2nd quarter worth approximately $50,000. Finally, Strs Ohio acquired a new position in shares of Peoples Bancorp in the 1st quarter worth approximately $62,000. Institutional investors own 60.68% of the company’s stock.

Wall Street Analyst Weigh In

PEBO has been the subject of a number of research analyst reports. DA Davidson boosted their price target on Peoples Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Piper Sandler set a $46.00 price objective on Peoples Bancorp in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp in a report on Friday, May 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Peoples Bancorp has an average rating of “Moderate Buy” and an average price target of $42.00.

Insiders Place Their Bets

In other Peoples Bancorp news, insider Matthew Edgell sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total value of $123,810.00. Following the sale, the insider directly owned 20,183 shares in the company, valued at approximately $832,952.41. This trade represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dwight Eric Smith bought 1,000 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was bought at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the purchase, the director directly owned 10,256 shares of the company’s stock, valued at $408,291.36. The trade was a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.31% of the stock is owned by corporate insiders.

Peoples Bancorp Stock Performance

Shares of NASDAQ PEBO opened at $39.70 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $39.61 and its two-hundred day moving average price is $35.77. Peoples Bancorp Inc. has a 52-week low of $27.49 and a 52-week high of $42.29. The stock has a market capitalization of $1.43 billion, a P/E ratio of 11.99 and a beta of 0.61.

Peoples Bancorp (NASDAQ:PEBO) last posted its earnings results on Tuesday, July 21st. The bank reported $0.96 EPS for the quarter, beating the consensus estimate of $0.85 by $0.11. The company had revenue of $121.95 million during the quarter, compared to analyst estimates of $120.05 million. Peoples Bancorp had a return on equity of 10.71% and a net margin of 19.17%. As a group, sell-side analysts forecast that Peoples Bancorp Inc. will post 3.56 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were given a dividend of $0.42 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.68 dividend on an annualized basis and a yield of 4.2%. Peoples Bancorp’s payout ratio is currently 50.76%.

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.