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

Principal Financial Group Inc. trimmed its holdings in Peoples Bancorp Inc. (NASDAQ:PEBO) by 5.6% in the 3rd quarter, HoldingsChannel reports. The fund 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Peoples Bancorp in the 2nd quarter valued at $27,000. Innealta Capital LLC acquired a new position in Peoples Bancorp in the second quarter valued at about $46,000. CWM LLC boosted its stake in Peoples Bancorp by 503.9% during the third quarter. CWM LLC now owns 1,860 shares of the bank’s stock worth $56,000 after buying an additional 1,552 shares during the period. Quest Partners LLC increased its position in shares of 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. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Peoples Bancorp in the 3rd quarter valued at approximately $123,000. Institutional investors and hedge funds own 60.68% of the company’s stock.

Insider Buying and Selling

In other Peoples Bancorp news, insider Matthew Edgell sold 3,000 shares of the business’s stock in a transaction that occurred on 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 owns 16,092 shares in the company, valued at $552,921.12. The trade was a 15.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carol A. Schneeberger sold 1,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $30.33, for a total transaction of $30,330.00. Following the completion of the sale, the director now owns 29,963 shares in the company, valued at $908,777.79. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,445 shares of company stock valued at $348,956 in the last three months. 3.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Peoples Bancorp Stock Up 1.7 %

Shares of PEBO opened at $35.83 on Monday. The company’s 50-day simple moving average is $31.75 and its 200-day simple moving average is $30.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83. Peoples Bancorp Inc. has a 1 year low of $26.74 and a 1 year high of $36.19. The stock has a market capitalization of $1.27 billion, a PE ratio of 10.21 and a beta of 0.74.

Peoples Bancorp (NASDAQ:PEBO) last released its earnings results on Tuesday, October 22nd. The bank reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The company had revenue of $158.41 million for the quarter, compared to analyst estimates of $112.30 million. Peoples Bancorp had a net margin of 20.16% and a return on equity of 11.84%. During the same period in the prior year, the business earned $1.06 EPS. Analysts forecast 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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.60 annualized dividend and a yield of 4.47%. Peoples Bancorp’s payout ratio is 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.