Proficio Capital Partners LLC Invests $394,000 in Peoples Bancorp Inc. (NASDAQ:PEBO)

Proficio Capital Partners LLC bought a new stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,422 shares of the bank's stock, valued at approximately $394,000.

Several other hedge funds also recently added to or reduced their stakes in PEBO. FMR LLC boosted its stake in shares of Peoples Bancorp by 42.0% in 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 last quarter. Spire Wealth Management purchased a new position in shares of Peoples Bancorp in the fourth quarter valued at approximately $43,000. Quantbot Technologies LP lifted its holdings in Peoples Bancorp by 223.3% in the 3rd quarter. Quantbot Technologies LP now owns 3,964 shares of the bank's stock valued at $119,000 after purchasing an additional 2,738 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Peoples Bancorp in the third quarter valued at about $297,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Peoples Bancorp in the third quarter valued at about $323,000. 60.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Peoples Bancorp

In related news, Director Carol A. Schneeberger sold 1,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.20, for a total value of $30,200.00. Following the completion of the transaction, the director now owns 25,686 shares of the company's stock, valued at approximately $775,717.20. The trade was a 3.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 3,000 shares of company stock valued at $94,050 in the last 90 days. 3.46% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

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

Peoples Bancorp Stock Performance

Shares of Peoples Bancorp stock traded up $0.60 during trading on Friday, reaching $29.80. The company's stock had a trading volume of 160,275 shares, compared to its average volume of 125,307. The company has a 50-day moving average price of $31.82 and a two-hundred day moving average price of $32.10. The firm has a market cap of $1.06 billion, a PE ratio of 9.00 and a beta of 0.75. Peoples Bancorp Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $37.07. 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 posted its quarterly earnings data 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 net margin of 18.90% and a return on equity of 11.07%. During the same period last year, the business posted $1.04 EPS. On average, analysts forecast that Peoples Bancorp Inc. will post 3.28 EPS for the current year.

Peoples Bancorp Dividend Announcement

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

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.