Vanguard Group Inc. Boosts Position in Peoples Bancorp Inc. (PEBO)
Vanguard Group Inc. boosted its stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 2.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 681,733 shares of the bank’s stock after buying an additional 18,418 shares during the period. Vanguard Group Inc. owned about 3.78% of Peoples Bancorp worth $21,584,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Teachers Advisors LLC boosted its stake in Peoples Bancorp by 44.3% in the fourth quarter. Teachers Advisors LLC now owns 52,451 shares of the bank’s stock valued at $1,703,000 after buying an additional 16,092 shares during the last quarter. Bank of Montreal Can boosted its stake in Peoples Bancorp by 263.6% in the first quarter. Bank of Montreal Can now owns 30,351 shares of the bank’s stock valued at $961,000 after buying an additional 22,004 shares during the last quarter. Nationwide Fund Advisors boosted its stake 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 last quarter. Russell Investments Group Ltd. boosted its stake in Peoples Bancorp by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 13,378 shares of the bank’s stock valued at $423,000 after buying an additional 834 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Peoples Bancorp by 28.6% in the first quarter. LSV Asset Management now owns 375,848 shares of the bank’s stock valued at $11,899,000 after buying an additional 83,631 shares during the last quarter. 60.94% of the stock is currently owned by institutional investors and hedge funds.
Peoples Bancorp Inc. (NASDAQ PEBO) traded up 0.79% during mid-day trading on Wednesday, reaching $30.77. The company’s stock had a trading volume of 4,834 shares. The stock has a market cap of $554.35 million, a P/E ratio of 16.63 and a beta of 0.76. Peoples Bancorp Inc. has a one year low of $23.21 and a one year high of $35.43. The firm’s 50 day moving average is $31.81 and its 200-day moving average is $32.09.
Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. Peoples Bancorp had a net margin of 19.67% and a return on equity of 7.63%. The company had revenue of $41.68 million during the quarter, compared to analysts’ expectations of $40.81 million. Equities analysts expect that Peoples Bancorp Inc. will post $2.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Friday, August 4th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.88%. The ex-dividend date was Wednesday, August 2nd. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.20. Peoples Bancorp’s payout ratio is 47.57%.
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Several analysts have weighed in on PEBO shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $32.00 price objective on shares of Peoples Bancorp in a research report on Wednesday, April 26th. ValuEngine raised Peoples Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research cut Peoples Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. BidaskClub cut Peoples Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Peoples Bancorp in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $34.33.
In other news, Director Terry Thomas Sweet purchased 1,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was bought at an average price of $31.18 per share, for a total transaction of $31,180.00. Following the acquisition, the director now directly owns 2,427 shares of the company’s stock, valued at approximately $75,673.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.04% of the company’s stock.
About Peoples Bancorp
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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