Banc Funds Co. LLC Has $17,571,000 Position in Peoples Bancorp Inc. (PEBO)
Banc Funds Co. LLC continued to hold its stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 546,882 shares of the bank’s stock at the end of the second quarter. Banc Funds Co. LLC owned 3.04% of Peoples Bancorp worth $17,571,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Peoples Bancorp by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,296,046 shares of the bank’s stock worth $41,642,000 after purchasing an additional 30,815 shares during the period. Vanguard Group Inc. lifted its position in Peoples Bancorp by 8.5% in the second quarter. Vanguard Group Inc. now owns 739,754 shares of the bank’s stock worth $23,768,000 after purchasing an additional 58,021 shares during the period. LSV Asset Management lifted its position in Peoples Bancorp by 5.9% in the second quarter. LSV Asset Management now owns 397,940 shares of the bank’s stock worth $12,785,000 after purchasing an additional 22,092 shares during the period. Renaissance Technologies LLC lifted its position in Peoples Bancorp by 14.6% in the first quarter. Renaissance Technologies LLC now owns 273,000 shares of the bank’s stock worth $8,643,000 after purchasing an additional 34,700 shares during the period. Finally, Foundry Partners LLC lifted its position in Peoples Bancorp by 0.9% in the second quarter. Foundry Partners LLC now owns 215,385 shares of the bank’s stock worth $6,920,000 after purchasing an additional 1,900 shares during the period. 62.56% of the stock is owned by hedge funds and other institutional investors.
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PEBO has been the subject of several research reports. 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. Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of Peoples Bancorp in a research report on Tuesday, July 25th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Peoples Bancorp in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.33.
In other news, Director S Craig Beam sold 2,500 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $32.66, for a total transaction of $81,650.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.04% of the company’s stock.
Peoples Bancorp (NASDAQ:PEBO) last released its earnings results on Tuesday, July 25th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $41.68 million for the quarter, compared to analyst estimates of $40.81 million. Peoples Bancorp had a return on equity of 7.63% and a net margin of 19.67%.
Peoples Bancorp 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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