Johnson Investment Counsel Inc. Purchases 10,415 Shares of Peoples Bancorp Inc. (NASDAQ:PEBO)

Johnson Investment Counsel Inc. raised its position in Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 61.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,291 shares of the bank's stock after buying an additional 10,415 shares during the period. Johnson Investment Counsel Inc. owned approximately 0.08% of Peoples Bancorp worth $865,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Foundry Partners LLC boosted its stake in Peoples Bancorp by 21.1% during the 3rd quarter. Foundry Partners LLC now owns 162,956 shares of the bank's stock valued at $4,903,000 after acquiring an additional 28,346 shares during the last quarter. Jane Street Group LLC raised its position in shares of Peoples Bancorp by 55.8% during the 3rd quarter. Jane Street Group LLC now owns 56,345 shares of the bank's stock valued at $1,695,000 after acquiring an additional 20,173 shares in the last quarter. Barclays PLC raised its position in shares of Peoples Bancorp by 138.9% during the 3rd quarter. Barclays PLC now owns 63,096 shares of the bank's stock valued at $1,898,000 after acquiring an additional 36,684 shares in the last quarter. Thrivent Financial for Lutherans boosted 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 purchasing an additional 14,658 shares during the period. Finally, Geode Capital Management LLC increased its stake in Peoples Bancorp by 2.7% during the third quarter. Geode Capital Management LLC now owns 850,654 shares of the bank's stock valued at $25,601,000 after purchasing an additional 22,285 shares during the last quarter. 60.68% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In related news, Director Carol A. Schneeberger sold 1,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 26,686 shares of the company's stock, valued at approximately $876,101.38. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 3,000 shares of company stock valued at $94,050 over the last quarter. Insiders own 3.46% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on PEBO shares. DA Davidson cut their price target on Peoples Bancorp from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Stephens restated an "equal weight" rating and issued a $37.50 target price on shares of Peoples Bancorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price target on Peoples Bancorp from $32.00 to $36.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, Piper Sandler upped their price objective on shares of Peoples Bancorp from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $36.90.

Peoples Bancorp Stock Up 2.1 %

Shares of NASDAQ PEBO traded up $0.60 during mid-day trading on Friday, reaching $29.80. The company had a trading volume of 160,275 shares, compared to its average volume of 124,308. The stock has a fifty day moving average of $31.75 and a two-hundred day moving average of $32.07. Peoples Bancorp Inc. has a 12-month low of $27.03 and a 12-month high of $37.07. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 9.00 and a beta of 0.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last issued its earnings results on Tuesday, January 21st. The bank reported $0.76 earnings per share for the quarter, topping the consensus estimate 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 company posted $1.04 EPS. As a group, equities research analysts expect that Peoples Bancorp Inc. will post 3.28 EPS for the current year.

Peoples Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.37%. The ex-dividend date was Monday, February 3rd. Peoples Bancorp's payout ratio is 48.34%.

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.