Pinnacle Holdings LLC Takes Position in Peoples Bancorp Inc. $PEBO

Pinnacle Holdings LLC acquired a new position in Peoples Bancorp Inc. (NASDAQ:PEBO) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 36,888 shares of the bank’s stock, valued at approximately $1,417,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Peoples Bancorp in the 2nd quarter valued at $128,113,000. Raymond James Financial Inc. lifted its position in Peoples Bancorp by 422.4% during the 2nd quarter. Raymond James Financial Inc. now owns 349,948 shares of the bank’s stock worth $10,687,000 after acquiring an additional 282,960 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Peoples Bancorp during the 2nd quarter worth $10,181,000. Align Financial LLC bought a new stake in Peoples Bancorp during the fourth quarter valued at about $5,318,000. Finally, UBS Group AG boosted its holdings in Peoples Bancorp by 391.8% during the fourth quarter. UBS Group AG now owns 198,742 shares of the bank’s stock valued at $5,968,000 after acquiring an additional 158,327 shares during the period. 60.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Peoples Bancorp

In other Peoples Bancorp news, Director Dwight Eric Smith bought 1,000 shares of the stock in a transaction dated Thursday, July 23rd. The stock was bought at an average cost of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the purchase, the director owned 10,256 shares in the company, valued at $408,291.36. This represents a 10.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $41.27, for a total transaction of $123,810.00. Following the completion of the sale, the insider owned 20,183 shares of the company’s stock, valued at $832,952.41. The trade was a 12.94% decrease in their position. The SEC filing for this sale provides additional information. 3.31% of the stock is owned by insiders.

Peoples Bancorp Price Performance

Shares of PEBO stock opened at $40.06 on Monday. The stock has a fifty day moving average price of $39.38 and a 200 day moving average price of $35.64. The stock has a market cap of $1.44 billion, a P/E ratio of 12.10 and a beta of 0.61. Peoples Bancorp Inc. has a one year low of $27.49 and a one year high of $42.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85.

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

Peoples Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, August 3rd. 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.