Private Management Group Inc. Sells 15,180 Shares of Peoples Bancorp Inc. $PEBO

Private Management Group Inc. reduced its position in Peoples Bancorp Inc. (NASDAQ:PEBO) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 580,469 shares of the bank’s stock after selling 15,180 shares during the quarter. Private Management Group Inc.’s holdings in Peoples Bancorp were worth $22,296,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PEBO. D.A. Davidson & CO. boosted its position in shares of Peoples Bancorp by 1.3% during the first quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank’s stock valued at $801,000 after buying an additional 320 shares during the period. Cetera Investment Advisers raised its holdings in shares of Peoples Bancorp by 1.6% in the fourth quarter. Cetera Investment Advisers now owns 24,348 shares of the bank’s stock worth $731,000 after buying an additional 385 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Peoples Bancorp by 2.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank’s stock worth $508,000 after buying an additional 400 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of Peoples Bancorp by 1.2% during the 4th quarter. Pathway Financial Advisers LLC now owns 35,520 shares of the bank’s stock worth $1,067,000 after acquiring an additional 414 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Peoples Bancorp by 2.8% during the 4th quarter. Inspire Investing LLC now owns 15,582 shares of the bank’s stock worth $468,000 after acquiring an additional 420 shares during the last quarter. Institutional investors own 60.68% of the company’s stock.

Insiders Place Their Bets

In other news, Director Dwight Eric Smith bought 1,000 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was acquired 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 trade represents a 10.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total value 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. This represents a 12.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.31% of the company’s stock.

Peoples Bancorp Price Performance

Shares of PEBO stock opened at $39.66 on Friday. The company has a market capitalization of $1.43 billion, a P/E ratio of 11.98 and a beta of 0.61. The company’s 50-day simple moving average is $39.74 and its two-hundred day simple moving average is $35.84. 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 quarterly earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.11. The firm had revenue of $121.95 million during the quarter, compared to the consensus estimate of $120.05 million. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. As a group, equities analysts anticipate that Peoples Bancorp Inc. will post 3.56 EPS for the current year.

Peoples Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, August 3rd. Peoples Bancorp’s dividend payout ratio (DPR) is presently 50.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PEBO. Keefe, Bruyette & Woods boosted their price objective on Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a report on Wednesday, July 22nd. Piper Sandler set a $46.00 target price on Peoples Bancorp in a research note on Wednesday, July 22nd. DA Davidson lifted their target price 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, Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Peoples Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Peoples Bancorp Company 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.