Sei Investments Co. Grows Stock Holdings in Peoples Bancorp Inc. $PEBO

Sei Investments Co. raised its holdings in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 212.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,628 shares of the bank’s stock after purchasing an additional 51,445 shares during the quarter. Sei Investments Co.’s holdings in Peoples Bancorp were worth $2,486,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. raised its position in shares of Peoples Bancorp by 422.4% during the 2nd quarter. Raymond James Financial Inc. now owns 349,948 shares of the bank’s stock valued at $10,687,000 after buying an additional 282,960 shares in the last quarter. Align Financial LLC purchased a new position in Peoples Bancorp in the fourth quarter worth about $5,318,000. UBS Group AG increased its stake in Peoples Bancorp by 391.8% during the fourth quarter. UBS Group AG now owns 198,742 shares of the bank’s stock worth $5,968,000 after acquiring an additional 158,327 shares during the last quarter. Invesco Ltd. increased its stake in Peoples Bancorp by 248.8% during the fourth quarter. Invesco Ltd. now owns 211,869 shares of the bank’s stock worth $6,362,000 after acquiring an additional 151,125 shares during the last quarter. Finally, Millennium Management LLC raised its position in Peoples Bancorp by 46.9% during the third quarter. Millennium Management LLC now owns 400,064 shares of the bank’s stock valued at $11,998,000 after purchasing an additional 127,778 shares during the period. 60.68% of the stock is owned by hedge funds and other institutional investors.

Peoples Bancorp Price Performance

PEBO opened at $40.93 on Friday. The business has a fifty day moving average of $38.30 and a 200 day moving average of $35.00. The stock has a market cap of $1.47 billion, a P/E ratio of 12.37 and a beta of 0.61. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. Peoples Bancorp Inc. has a 52-week low of $27.49 and a 52-week high of $42.29.

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

Peoples Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be issued a $0.42 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.1%. Peoples Bancorp’s dividend payout ratio is presently 50.76%.

Analyst Ratings Changes

Several research firms have recently issued reports on PEBO. Hovde Group raised their price objective on Peoples Bancorp from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, April 22nd. Piper Sandler set a $46.00 target price on Peoples Bancorp in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a report on Friday, May 29th. DA Davidson raised their price target on Peoples Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Peoples Bancorp from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Insider Activity

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

About Peoples Bancorp

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.