Insider Buying: Peoples Bancorp (NASDAQ:PEBO) Director Acquires 1,000 Shares of Stock

Peoples Bancorp Inc. (NASDAQ:PEBO) Director W Glenn Hogan acquired 1,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were bought at an average cost of $28.82 per share, for a total transaction of $28,820.00. Following the completion of the transaction, the director owned 534,239 shares in the company, valued at approximately $15,396,767.98. This represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Peoples Bancorp Stock Performance

Shares of PEBO stock traded down $0.48 during trading hours on Tuesday, reaching $28.37. 82,205 shares of the company traded hands, compared to its average volume of 154,726. Peoples Bancorp Inc. has a 12-month low of $26.21 and a 12-month high of $37.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $1.01 billion, a P/E ratio of 9.92 and a beta of 0.63. The firm has a 50-day moving average price of $29.95 and a 200 day moving average price of $29.87.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings data on Tuesday, October 21st. The bank reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. Peoples Bancorp had a return on equity of 9.45% and a net margin of 16.57%.The firm had revenue of ($221.08) million for the quarter, compared to analysts’ expectations of $116.88 million. As a group, sell-side analysts predict that Peoples Bancorp Inc. will post 3.28 earnings per share for the current fiscal year.

Peoples Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Tuesday, November 4th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $1.64 dividend on an annualized basis and a yield of 5.8%. Peoples Bancorp’s payout ratio is currently 57.34%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PEBO. Zacks Research raised Peoples Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. Piper Sandler lowered their price target on Peoples Bancorp from $36.00 to $33.50 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. DA Davidson assumed coverage on Peoples Bancorp in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $33.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Peoples Bancorp in a research note on Friday. Finally, Keefe, Bruyette & Woods lifted their price objective on Peoples Bancorp from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Friday, July 11th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Peoples Bancorp currently has a consensus rating of “Hold” and an average target price of $33.13.

Hedge Funds Weigh In On Peoples Bancorp

Several hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC purchased a new stake in shares of Peoples Bancorp in the 1st quarter worth $299,000. New York State Common Retirement Fund lifted its holdings in shares of Peoples Bancorp by 55.3% in the 1st quarter. New York State Common Retirement Fund now owns 18,815 shares of the bank’s stock worth $558,000 after buying an additional 6,700 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Peoples Bancorp in the 1st quarter worth $289,000. Principal Financial Group Inc. lifted its holdings in shares of Peoples Bancorp by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 19,137 shares of the bank’s stock worth $568,000 after buying an additional 707 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Peoples Bancorp by 12.7% during the 1st quarter. American Century Companies Inc. now owns 854,771 shares of the bank’s stock worth $25,353,000 after purchasing an additional 96,556 shares during the last quarter. Institutional investors own 60.68% of the company’s stock.

About Peoples Bancorp

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.