Proficio Capital Partners LLC Takes Position in Peoples Bancorp Inc. (NASDAQ:PEBO)

Proficio Capital Partners LLC bought a new stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,422 shares of the bank’s stock, valued at approximately $394,000.

Several other large investors have also recently modified their holdings of PEBO. Wellington Management Group LLP increased its position in shares of Peoples Bancorp by 153.6% during the 3rd quarter. Wellington Management Group LLP now owns 352,488 shares of the bank’s stock valued at $10,606,000 after purchasing an additional 213,488 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Peoples Bancorp by 316.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 61,645 shares of the bank’s stock valued at $1,855,000 after purchasing an additional 46,845 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Peoples Bancorp during the 3rd quarter valued at approximately $1,244,000. Barclays PLC increased its position in shares of Peoples Bancorp by 138.9% during the 3rd quarter. Barclays PLC now owns 63,096 shares of the bank’s stock valued at $1,898,000 after purchasing an additional 36,684 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Peoples Bancorp by 262.6% during the 3rd quarter. Cerity Partners LLC now owns 40,704 shares of the bank’s stock valued at $1,225,000 after purchasing an additional 29,479 shares during the last quarter. Institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Price Performance

Shares of PEBO stock opened at $29.28 on Tuesday. Peoples Bancorp Inc. has a twelve month low of $26.74 and a twelve month high of $37.07. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 8.85 and a beta of 0.75. The stock has a fifty day simple moving average of $31.92 and a two-hundred day simple moving average of $32.14. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.21.

Peoples Bancorp (NASDAQ:PEBO) last issued its earnings results on Tuesday, January 21st. The bank reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. Peoples Bancorp had a return on equity of 11.07% and a net margin of 18.90%. During the same period in the previous year, the business posted $1.04 earnings per share. On average, analysts predict that Peoples Bancorp Inc. will post 3.28 EPS for the current fiscal year.

Peoples Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Monday, February 3rd. Peoples Bancorp’s dividend payout ratio is 48.34%.

Analyst Ratings Changes

PEBO has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on Peoples Bancorp from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler upped their price objective on Peoples Bancorp from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. DA Davidson cut their price objective on Peoples Bancorp from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $37.50 price objective on shares of Peoples Bancorp in a research report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.90.

Insiders Place Their Bets

In related news, Director Carol A. Schneeberger sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.02, for a total transaction of $31,020.00. Following the completion of the sale, the director now directly owns 27,686 shares in the company, valued at $858,819.72. This represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.46% of the company’s stock.

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.