Principal Financial Group Inc. Has $514,000 Stock Position in Peoples Bancorp Inc. (NASDAQ:PEBO)

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in Peoples Bancorp by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,465,385 shares of the bank’s stock worth $73,960,000 after purchasing an additional 6,712 shares during the period. State Street Corp lifted its holdings in shares of Peoples Bancorp by 1.4% in the third quarter. State Street Corp now owns 1,027,413 shares of the bank’s stock valued at $30,915,000 after purchasing an additional 14,426 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Peoples Bancorp by 2.7% during the third quarter. Geode Capital Management LLC now owns 850,654 shares of the bank’s stock worth $25,601,000 after buying an additional 22,285 shares during the period. American Century Companies Inc. grew its holdings in shares of Peoples Bancorp by 26.7% during the second quarter. American Century Companies Inc. now owns 586,015 shares of the bank’s stock worth $17,580,000 after buying an additional 123,423 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Peoples Bancorp by 153.6% in the 3rd quarter. Wellington Management Group LLP now owns 352,488 shares of the bank’s stock valued at $10,606,000 after buying an additional 213,488 shares during the last quarter. 60.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PEBO has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their price target on Peoples Bancorp from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler cut their price objective on shares of Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $34.25.

Peoples Bancorp Trading Up 0.5 %

Shares of Peoples Bancorp stock opened at $31.39 on Monday. Peoples Bancorp Inc. has a 12-month low of $26.74 and a 12-month high of $37.07. 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 business’s 50 day moving average is $33.69 and its 200-day moving average is $31.75. The stock has a market cap of $1.12 billion, a P/E ratio of 8.94 and a beta of 0.79.

Peoples Bancorp (NASDAQ:PEBO) last posted 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 last year, the company posted $1.06 earnings per share. Equities research analysts predict that Peoples Bancorp Inc. will post 3.31 earnings per share for the current fiscal year.

Peoples Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 4th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend was Monday, November 4th. Peoples Bancorp’s payout ratio is 45.58%.

Insider Transactions at Peoples Bancorp

In related news, Director S Craig Beam sold 4,000 shares of Peoples Bancorp stock in a transaction that occurred 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 transaction, the director now directly owns 23,760 shares of the company’s stock, valued at $815,205.60. This trade represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carol A. Schneeberger sold 1,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $34.13, for a total value of $34,130.00. Following the sale, the director now owns 29,322 shares of the company’s stock, valued at approximately $1,000,759.86. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,445 shares of company stock worth $393,806. Company insiders own 3.46% of the company’s stock.

Peoples Bancorp 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.