JPMorgan Chase & Co. Increases Stock Holdings in Peoples Bancorp Inc. (NASDAQ:PEBO)

JPMorgan Chase & Co. increased its holdings in Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) by 316.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,645 shares of the bank's stock after purchasing an additional 46,845 shares during the quarter. JPMorgan Chase & Co. owned 0.17% of Peoples Bancorp worth $1,855,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Peoples Bancorp by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,465,385 shares of the bank's stock worth $73,960,000 after buying an additional 6,712 shares during the period. State Street Corp grew its holdings in Peoples Bancorp by 1.4% in the 3rd quarter. State Street Corp now owns 1,027,413 shares of the bank's stock worth $30,915,000 after acquiring an additional 14,426 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Peoples Bancorp by 2.7% in the third quarter. Geode Capital Management LLC now owns 850,654 shares of the bank's stock valued at $25,601,000 after acquiring an additional 22,285 shares during the period. Wellington Management Group LLP raised its stake in shares of Peoples Bancorp by 153.6% during the third quarter. Wellington Management Group LLP now owns 352,488 shares of the bank's stock valued at $10,606,000 after acquiring an additional 213,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Peoples Bancorp by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 295,203 shares of the bank's stock worth $8,883,000 after purchasing an additional 5,071 shares during the period. 60.68% of the stock is owned by institutional investors.

Insider Activity at Peoples Bancorp

In other Peoples Bancorp news, insider Matthew Edgell sold 3,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $34.36, for a total transaction of $103,080.00. Following the completion of the sale, the insider now directly owns 16,092 shares in the company, valued at approximately $552,921.12. This trade represents a 15.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carol A. Schneeberger sold 1,000 shares of Peoples Bancorp stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $34.13, for a total transaction of $34,130.00. Following the completion of the transaction, the director now directly owns 29,322 shares of the company's stock, valued at $1,000,759.86. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $411,010 in the last 90 days. Corporate insiders own 3.46% of the company's stock.

Peoples Bancorp Stock Up 1.5 %

Peoples Bancorp stock traded up $0.48 on Thursday, hitting $32.68. 256,557 shares of the stock traded hands, compared to its average volume of 141,709. Peoples Bancorp Inc. has a 1 year low of $26.74 and a 1 year high of $37.07. The firm has a market cap of $1.16 billion, a P/E ratio of 9.87 and a beta of 0.79. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.21. The business's fifty day simple moving average is $33.25 and its 200 day simple moving average is $31.92.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.01. Peoples Bancorp had a net margin of 18.90% and a return on equity of 11.07%. During the same quarter in the previous year, the company posted $1.04 earnings per share. As a group, sell-side analysts forecast that Peoples Bancorp Inc. will post 3.16 earnings per share for the current year.

Peoples Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, February 3rd. This represents a $1.60 annualized dividend and a dividend yield of 4.90%. Peoples Bancorp's payout ratio is currently 48.34%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PEBO. DA Davidson lowered their price target on Peoples Bancorp from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday. Stephens restated an "equal weight" rating and set a $37.50 target price on shares of Peoples Bancorp in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target 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. 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $36.90.

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.