Peoples Bancorp Inc. (NASDAQ:PEBO) Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 258,120 shares of the bank's stock after selling 35,526 shares during the period. Bank of New York Mellon Corp owned 0.73% of Peoples Bancorp worth $8,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Peoples Bancorp by 42.0% during the third quarter. FMR LLC now owns 1,252 shares of the bank's stock worth $38,000 after buying an additional 370 shares during the period. Spire Wealth Management acquired a new position in Peoples Bancorp during the 4th quarter worth $43,000. Quantbot Technologies LP grew its stake in shares of Peoples Bancorp by 223.3% in the third quarter. Quantbot Technologies LP now owns 3,964 shares of the bank's stock worth $119,000 after purchasing an additional 2,738 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Peoples Bancorp in the third quarter worth $297,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Peoples Bancorp during the third quarter valued at $323,000. 60.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stephens reaffirmed an "equal weight" rating and issued a $37.50 price objective on shares of Peoples Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Peoples Bancorp from $32.00 to $36.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. DA Davidson dropped their target price on Peoples Bancorp from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Finally, Piper Sandler increased their price target on Peoples Bancorp from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $36.90.

Remove Ads

Peoples Bancorp Price Performance

Shares of NASDAQ:PEBO traded up $0.12 on Tuesday, reaching $29.92. 107,403 shares of the company traded hands, compared to its average volume of 124,330. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $1.07 billion, a PE ratio of 9.04 and a beta of 0.75. The company's 50 day moving average is $31.72 and its 200-day moving average is $32.06. Peoples Bancorp Inc. has a fifty-two week low of $27.03 and a fifty-two week high of $37.07.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the business posted $1.04 earnings per share. As a group, analysts anticipate that Peoples Bancorp Inc. will post 3.28 earnings per share for the current fiscal year.

Peoples Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.40 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.60 annualized dividend and a dividend yield of 5.35%. Peoples Bancorp's dividend payout ratio (DPR) is presently 48.34%.

Insider Buying and Selling

In other news, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction 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 sale, the director now owns 26,686 shares in the company, valued at $876,101.38. This 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 at this link. In the last 90 days, insiders sold 3,000 shares of company stock valued at $94,050. Company insiders own 3.46% of the company's stock.

Peoples Bancorp 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.