PL Capital Advisors LLC reduced its stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 26.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 591,721 shares of the bank’s stock after selling 216,300 shares during the period. Peoples Bancorp accounts for 5.0% of PL Capital Advisors LLC’s investment portfolio, making the stock its 9th largest position. PL Capital Advisors LLC’s holdings in Peoples Bancorp were worth $19,012,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Peoples Bancorp during the fourth quarter valued at $408,000. Huntington National Bank increased its position in Peoples Bancorp by 389.6% in the first quarter. Huntington National Bank now owns 35,439 shares of the bank’s stock valued at $1,122,000 after buying an additional 28,200 shares during the period. AXA purchased a new position in Peoples Bancorp during the first quarter valued at $253,000. Nationwide Fund Advisors increased its position in Peoples Bancorp by 50.1% in the first quarter. Nationwide Fund Advisors now owns 58,867 shares of the bank’s stock valued at $1,864,000 after buying an additional 19,656 shares during the period. Finally, Park National Corp OH purchased a new position in Peoples Bancorp during the second quarter valued at $203,000. Institutional investors and hedge funds own 61.01% of the company’s stock.
Peoples Bancorp Inc. (PEBO) opened at 31.01 on Thursday. Peoples Bancorp Inc. has a 12 month low of $22.66 and a 12 month high of $35.43. The stock has a market cap of $558.68 million, a P/E ratio of 16.76 and a beta of 0.76. The company’s 50-day moving average price is $32.11 and its 200-day moving average price is $32.14.
Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Peoples Bancorp had a return on equity of 7.63% and a net margin of 19.67%. The company had revenue of $41.68 million for the quarter, compared to analyst estimates of $40.81 million. Equities analysts forecast that Peoples Bancorp Inc. will post $2.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Friday, August 4th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.20. Peoples Bancorp’s dividend payout ratio is currently 47.57%.
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Several equities analysts have recently weighed in on PEBO shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $32.00 target price on shares of Peoples Bancorp in a research report on Wednesday, April 26th. BidaskClub downgraded Peoples Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded Peoples Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. ValuEngine upgraded Peoples Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Boenning Scattergood restated a “hold” rating on shares of Peoples Bancorp in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Peoples Bancorp presently has an average rating of “Hold” and a consensus price target of $34.33.
In other Peoples Bancorp news, Director Terry Thomas Sweet purchased 1,000 shares of Peoples Bancorp stock in a transaction on Tuesday, June 6th. The shares were bought at an average price of $31.18 per share, with a total value of $31,180.00. Following the purchase, the director now directly owns 2,427 shares in the company, valued at approximately $75,673.86. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.04% of the company’s stock.
Peoples Bancorp Company Profile
Peoples Bancorp Inc is a financial holding company. The Company operates principally through its subsidiary, Peoples Bank. Peoples Bank’s operating subsidiaries include Peoples Insurance Agency, LLC (Peoples Insurance) and two asset management companies, PBNA, LLC. and Peoples Tax Credit Equity, LLC.
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