Geode Capital Management LLC Boosts Stake in Peoples Bancorp Inc. (NASDAQ:PEBO)

Geode Capital Management LLC increased its holdings in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 850,654 shares of the bank’s stock after purchasing an additional 22,285 shares during the quarter. Geode Capital Management LLC owned 2.39% of Peoples Bancorp worth $25,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Peoples Bancorp in the 2nd quarter worth approximately $27,000. FMR LLC boosted its stake in shares of Peoples Bancorp by 42.0% in the 3rd quarter. FMR LLC now owns 1,252 shares of the bank’s stock worth $38,000 after buying an additional 370 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Peoples Bancorp in the 2nd quarter worth $46,000. CWM LLC grew its holdings in shares of Peoples Bancorp by 503.9% in the third quarter. CWM LLC now owns 1,860 shares of the bank’s stock worth $56,000 after acquiring an additional 1,552 shares during the period. Finally, Quest Partners LLC increased its position in Peoples Bancorp by 20,273.3% during the second quarter. Quest Partners LLC now owns 3,056 shares of the bank’s stock valued at $92,000 after acquiring an additional 3,041 shares during the last quarter. 60.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PEBO. Piper Sandler dropped their target price on Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Peoples Bancorp from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Peoples Bancorp presently has a consensus rating of “Hold” and an average price target of $34.25.

Peoples Bancorp Price Performance

Shares of Peoples Bancorp stock opened at $31.90 on Friday. The stock has a market cap of $1.13 billion, a P/E ratio of 9.09 and a beta of 0.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83. The stock’s fifty day moving average is $33.61 and its 200 day moving average is $31.61. Peoples Bancorp Inc. has a one year low of $26.74 and a one year high of $37.07.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results 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 return on equity of 11.84% and a net margin of 20.16%. The business had revenue of $158.41 million during the quarter, compared to analysts’ expectations of $112.30 million. During the same quarter in the prior year, the business posted $1.06 earnings per share. Sell-side analysts anticipate that Peoples Bancorp Inc. will post 3.31 earnings per share for the current year.

Peoples Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 4th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Monday, November 4th. Peoples Bancorp’s payout ratio is 45.58%.

Insider Buying and Selling at Peoples Bancorp

In other news, Director S Craig Beam sold 4,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $34.31, for a total value of $137,240.00. Following the completion of the sale, the director now directly owns 23,760 shares of the company’s stock, valued at $815,205.60. This represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carol A. Schneeberger sold 1,000 shares of Peoples Bancorp stock in a transaction on Friday, November 8th. The shares were sold at an average price of $34.13, for a total transaction of $34,130.00. Following the transaction, the director now owns 29,322 shares in the company, valued at approximately $1,000,759.86. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,445 shares of company stock valued at $393,806 over the last 90 days. 3.46% of the stock is currently owned by corporate insiders.

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.