Peoples Bancorp Inc. (NASDAQ:PEBO) Stake Cut by Huntington National Bank

Huntington National Bank lessened its holdings in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,242 shares of the bank’s stock after selling 402 shares during the quarter. Huntington National Bank’s holdings in Peoples Bancorp were worth $128,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PEBO. nVerses Capital LLC acquired a new stake in shares of Peoples Bancorp during the second quarter worth approximately $27,000. Innealta Capital LLC purchased a new stake in Peoples Bancorp in the 2nd quarter worth approximately $46,000. CWM LLC boosted its stake in shares of Peoples Bancorp by 503.9% during the 3rd quarter. CWM LLC now owns 1,860 shares of the bank’s stock valued at $56,000 after buying an additional 1,552 shares during the period. Quest Partners LLC grew its holdings in shares of Peoples Bancorp by 20,273.3% during the 2nd quarter. Quest Partners LLC now owns 3,056 shares of the bank’s stock valued at $92,000 after acquiring an additional 3,041 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Peoples Bancorp during the 3rd quarter valued at $123,000. Institutional investors and hedge funds own 60.68% of the company’s stock.

Insider Transactions at Peoples Bancorp

In related news, Director S Craig Beam sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $34.31, for a total transaction of $137,240.00. Following the completion of the sale, the director now directly owns 23,760 shares of the company’s stock, valued at approximately $815,205.60. This represents a 14.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carol A. Schneeberger sold 1,000 shares of Peoples Bancorp stock in a transaction on Monday, September 9th. The stock was sold at an average price of $30.33, for a total transaction of $30,330.00. Following the completion of the transaction, the director now owns 29,963 shares in the company, valued at $908,777.79. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,541 shares of company stock worth $351,856. 3.46% of the stock is owned by corporate insiders.

Peoples Bancorp Price Performance

NASDAQ PEBO opened at $35.40 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.26 billion, a PE ratio of 10.09 and a beta of 0.74. Peoples Bancorp Inc. has a 12-month low of $26.74 and a 12-month high of $36.19. The company has a 50 day moving average price of $31.25 and a two-hundred day moving average price of $30.65.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. The business had revenue of $158.41 million during the quarter, compared to analyst estimates of $112.30 million. Peoples Bancorp had a net margin of 20.16% and a return on equity of 11.84%. During the same quarter in the previous year, the business earned $1.06 EPS. As a group, equities analysts predict that Peoples Bancorp Inc. will post 3.31 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, November 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.52%. Peoples Bancorp’s dividend payout ratio (DPR) is presently 45.58%.

Wall Street Analysts Forecast Growth

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

Peoples Bancorp Company 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.