Ieq Capital LLC Purchases Shares of 69,018 Peoples Bancorp Inc. $PEBO

Ieq Capital LLC purchased a new stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 69,018 shares of the bank’s stock, valued at approximately $2,651,000.

Other hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Peoples Bancorp in the second quarter worth $33,000. Larson Financial Group LLC acquired a new stake in Peoples Bancorp in the third quarter valued at $30,000. Quarry LP bought a new position in Peoples Bancorp during the 3rd quarter worth $35,000. Allworth Financial LP bought a new position in Peoples Bancorp during the 2nd quarter worth $50,000. Finally, Strs Ohio acquired a new position in Peoples Bancorp during the 1st quarter worth about $62,000. Institutional investors and hedge funds own 60.68% of the company’s stock.

Peoples Bancorp Price Performance

Shares of NASDAQ PEBO opened at $39.85 on Tuesday. The company has a market capitalization of $1.43 billion, a PE ratio of 12.04 and a beta of 0.61. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. Peoples Bancorp Inc. has a twelve month low of $27.49 and a twelve month high of $42.29. The firm has a fifty day simple moving average of $39.46 and a 200 day simple moving average of $35.69.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $0.96 EPS for the quarter, beating 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 business had revenue of $121.95 million for the quarter, compared to analysts’ expectations of $120.05 million. On average, sell-side analysts forecast that Peoples Bancorp Inc. will post 3.56 EPS for the current year.

Peoples Bancorp Announces Dividend

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

Insider Activity

In other Peoples Bancorp news, Director Dwight Eric Smith purchased 1,000 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were purchased at an average cost 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 represents a 10.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Edgell sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.27, for a total value of $123,810.00. Following the completion of the transaction, the insider directly owned 20,183 shares in the company, valued at approximately $832,952.41. This trade represents a 12.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.