Foundry Partners LLC Has $4.90 Million Stock Holdings in Peoples Bancorp Inc. (NASDAQ:PEBO)

Foundry Partners LLC lifted its stake in Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 21.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,956 shares of the bank's stock after purchasing an additional 28,346 shares during the quarter. Foundry Partners LLC owned 0.46% of Peoples Bancorp worth $4,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in PEBO. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Peoples Bancorp during the third quarter valued at $1,244,000. Quest Partners LLC grew its stake in shares of Peoples Bancorp by 808.2% in the 3rd quarter. Quest Partners LLC now owns 27,754 shares of the bank's stock valued at $835,000 after buying an additional 24,698 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Peoples Bancorp by 34.6% in the third quarter. Thrivent Financial for Lutherans now owns 57,078 shares of the bank's stock worth $1,717,000 after buying an additional 14,658 shares during the last quarter. Empowered Funds LLC increased its holdings in Peoples Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 136,348 shares of the bank's stock worth $4,103,000 after buying an additional 6,834 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Peoples Bancorp by 6.1% in the third quarter. Victory Capital Management Inc. now owns 37,200 shares of the bank's stock valued at $1,119,000 after acquiring an additional 2,150 shares during the last quarter. 60.68% of the stock is currently owned by institutional investors and hedge funds.

Peoples Bancorp Stock Performance

PEBO traded up $0.60 during trading on Friday, hitting $35.83. The stock had a trading volume of 109,684 shares, compared to its average volume of 126,992. The firm has a market cap of $1.27 billion, a PE ratio of 10.21 and a beta of 0.74. The company has a 50 day simple moving average of $31.75 and a 200-day simple moving average of $30.82. Peoples Bancorp Inc. has a 12 month low of $26.74 and a 12 month high of $36.19. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.21.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. Peoples Bancorp had a return on equity of 11.84% and a net margin of 20.16%. The firm had revenue of $158.41 million during the quarter, compared to the consensus estimate of $112.30 million. During the same quarter in the prior year, the company earned $1.06 EPS. Analysts expect that Peoples Bancorp Inc. will post 3.31 EPS for the current year.

Peoples Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 4th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Monday, November 4th. Peoples Bancorp's dividend payout ratio is currently 45.58%.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price target on shares of Peoples Bancorp from $39.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $33.50.

Insider Activity at Peoples Bancorp

In other news, insider Matthew Edgell sold 3,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $34.36, for a total value of $103,080.00. Following the completion of the transaction, the insider now owns 16,092 shares in the company, valued at approximately $552,921.12. This represents a 15.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David F. Dierker sold 1,000 shares of Peoples Bancorp stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $30.36, for a total transaction of $30,360.00. Following the sale, the director now owns 10,330 shares in the company, valued at approximately $313,618.80. This trade represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,445 shares of company stock worth $348,956. Company insiders own 3.46% 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.