Peoples Bancorp Inc. (NASDAQ:PEBO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,091 shares of the bank’s stock after selling 1,021 shares during the period. Principal Financial Group Inc.’s holdings in Peoples Bancorp were worth $514,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PEBO. Shoker Investment Counsel Inc. increased its position in shares of Peoples Bancorp by 1.2% in the 2nd quarter. Shoker Investment Counsel Inc. now owns 30,789 shares of the bank’s stock valued at $924,000 after acquiring an additional 356 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Peoples Bancorp by 3.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,043 shares of the bank’s stock valued at $362,000 after purchasing an additional 381 shares during the period. nVerses Capital LLC purchased a new position in shares of Peoples Bancorp in the second quarter worth about $27,000. Wedge Capital Management L L P NC lifted its holdings in shares of Peoples Bancorp by 4.1% during the second quarter. Wedge Capital Management L L P NC now owns 24,567 shares of the bank’s stock worth $737,000 after purchasing an additional 960 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Peoples Bancorp by 3.1% in the second quarter. Victory Capital Management Inc. now owns 35,050 shares of the bank’s stock valued at $1,052,000 after buying an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price target on shares of Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.50.

Insider Activity

In other news, Director Carol A. Schneeberger sold 1,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $34.13, for a total transaction of $34,130.00. Following the completion of the sale, the director now owns 29,322 shares of the company’s stock, valued at $1,000,759.86. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew Edgell sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $34.36, for a total transaction of $103,080.00. Following the completion of the transaction, the insider now directly owns 16,092 shares in the company, valued at $552,921.12. This represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,445 shares of company stock worth $348,956 in the last ninety days. Company insiders own 3.46% of the company’s stock.

Peoples Bancorp Stock Up 1.7 %

Peoples Bancorp stock opened at $35.83 on Monday. The business’s 50-day moving average price is $31.75 and its 200 day moving average price is $30.83. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 10.21 and a beta of 0.74. Peoples Bancorp Inc. has a 52 week low of $26.74 and a 52 week high of $36.19.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Peoples Bancorp had a net margin of 20.16% and a return on equity of 11.84%. The business had revenue of $158.41 million for the quarter, compared to analysts’ expectations of $112.30 million. During the same quarter last year, the company earned $1.06 EPS. As a group, sell-side analysts anticipate that Peoples Bancorp Inc. will post 3.31 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 4th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.47%. Peoples Bancorp’s dividend payout ratio (DPR) is currently 45.58%.

Peoples Bancorp Company Profile

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; and provides commercial and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.