Connor Clark & Lunn Investment Management Ltd. Invests $1.24 Million in Peoples Bancorp Inc. (NASDAQ:PEBO)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Peoples Bancorp Inc. (NASDAQ:PEBO) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 41,335 shares of the bank’s stock, valued at approximately $1,244,000. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Peoples Bancorp at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in Peoples Bancorp in the second quarter valued at $27,000. Innealta Capital LLC purchased a new stake in shares of Peoples Bancorp in the 2nd quarter worth about $46,000. CWM LLC grew its stake in Peoples Bancorp by 503.9% in the 3rd quarter. CWM LLC now owns 1,860 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,552 shares during the last quarter. Quest Partners LLC increased its holdings in 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 acquired a new position in Peoples Bancorp during the third quarter worth about $123,000. 60.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their price target on shares of Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Peoples Bancorp currently has an average rating of “Hold” and an average target price of $33.50.

Insider Transactions at Peoples Bancorp

In other news, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $30.33, for a total transaction of $30,330.00. Following the transaction, the director now directly owns 29,963 shares in the company, valued at $908,777.79. This represents a 3.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director S Craig Beam sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 in the company, valued at $815,205.60. This represents a 14.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,445 shares of company stock worth $348,956 over the last quarter. 3.46% of the stock is currently owned by insiders.

Peoples Bancorp Trading Down 1.9 %

Shares of PEBO stock opened at $35.34 on Wednesday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 10.07 and a beta of 0.74. 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 firm has a 50-day moving average price of $31.84 and a 200 day moving average price of $30.87. Peoples Bancorp Inc. has a twelve month low of $26.74 and a twelve month high of $37.07.

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

Peoples Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 4th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Monday, November 4th. Peoples Bancorp’s dividend payout ratio (DPR) is 45.58%.

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.