Pinnacle Holdings LLC Invests $1.50 Million in Peoples Bancorp Inc. $PEBO

Pinnacle Holdings LLC purchased a new stake in Peoples Bancorp Inc. (NASDAQ:PEBO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 34,889 shares of the bank’s stock, valued at approximately $1,503,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. De Lisle Partners LLP purchased a new stake in Peoples Bancorp during the 2nd quarter worth about $925,000. Ieq Capital LLC bought a new position in shares of Peoples Bancorp in the second quarter valued at approximately $2,651,000. Allworth Financial LP bought a new position in shares of Peoples Bancorp in the second quarter valued at approximately $50,000. Vise Technologies Inc. purchased a new position in Peoples Bancorp during the second quarter valued at approximately $228,000. Finally, BlackRock Inc. bought a new position in Peoples Bancorp in the 2nd quarter valued at $13,424,000. 60.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PEBO shares. DA Davidson boosted their price target on shares of Peoples Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price objective on Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. Piper Sandler set a $46.00 target price on Peoples Bancorp in a research report on Wednesday, July 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a research note on Friday, May 29th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Insider Activity

In related news, Director Dwight Eric Smith acquired 1,000 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was purchased at an average price of $39.81 per share, with a total value of $39,810.00. Following the completion of the purchase, the director owned 10,256 shares in the company, valued at $408,291.36. This trade represents a 10.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total transaction of $123,810.00. Following the completion of the transaction, the insider owned 20,183 shares in the company, valued at $832,952.41. This represents a 12.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.31% of the company’s stock.

Peoples Bancorp Stock Performance

NASDAQ:PEBO opened at $40.06 on Monday. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.10 and a beta of 0.61. The business has a 50 day moving average of $39.38 and a 200 day moving average of $35.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. Peoples Bancorp Inc. has a 1-year low of $27.49 and a 1-year high of $42.29.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.11. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. The firm had revenue of $121.95 million during the quarter, compared to analyst estimates of $120.05 million. On average, sell-side analysts predict that Peoples Bancorp Inc. will post 3.56 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were issued a dividend of $0.42 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.68 annualized dividend and a yield of 4.2%. Peoples Bancorp’s dividend payout ratio is currently 50.76%.

Peoples Bancorp Company Profile

Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.

On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.