Bank of New York Mellon Corp Has $8.18 Million Position in Peoples Bancorp Inc. (NASDAQ:PEBO)

Bank of New York Mellon Corp lowered its holdings in Peoples Bancorp Inc. (NASDAQ:PEBO) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 258,120 shares of the bank’s stock after selling 35,526 shares during the quarter. Bank of New York Mellon Corp owned about 0.73% of Peoples Bancorp worth $8,180,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEBO. State Street Corp raised its position in shares of Peoples Bancorp by 1.4% during the third quarter. State Street Corp now owns 1,027,413 shares of the bank’s stock worth $30,915,000 after acquiring an additional 14,426 shares during the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 22,285 shares during the last quarter. Peoples Bank OH raised its position in shares of Peoples Bancorp by 1.1% during the fourth quarter. Peoples Bank OH now owns 590,905 shares of the bank’s stock worth $18,726,000 after acquiring an additional 6,250 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Peoples Bancorp by 153.6% during the third quarter. Wellington Management Group LLP now owns 352,488 shares of the bank’s stock worth $10,606,000 after acquiring an additional 213,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Peoples Bancorp by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 295,203 shares of the bank’s stock worth $8,883,000 after acquiring an additional 5,071 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.

Peoples Bancorp Stock Up 2.1 %

Shares of Peoples Bancorp stock opened at $29.80 on Friday. Peoples Bancorp Inc. has a 1 year low of $26.78 and a 1 year high of $37.07. The business has a 50-day moving average of $31.75 and a two-hundred day moving average of $32.07. The company has a market capitalization of $1.06 billion, a P/E ratio of 9.00 and a beta of 0.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings data 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 quarter in the previous year, the company earned $1.04 earnings per share. As a group, equities analysts predict that Peoples Bancorp Inc. will post 3.28 EPS for the current year.

Peoples Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.37%. Peoples Bancorp’s payout ratio is presently 48.34%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEBO. Keefe, Bruyette & Woods boosted their target price 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. Stephens restated an “equal weight” rating and set a $37.50 target price on shares of Peoples Bancorp in a research report on Wednesday, January 22nd. Piper Sandler boosted their target price on Peoples Bancorp from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, DA Davidson dropped their price objective on Peoples Bancorp from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.90.

Insider Buying and Selling

In other Peoples Bancorp news, Director Carol A. Schneeberger sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $32.83, for a total value of $32,830.00. Following the completion of the transaction, the director now directly owns 26,686 shares in the company, valued at $876,101.38. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 3,000 shares of company stock worth $94,050. 3.46% of the stock is 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.