Geode Capital Management LLC Increases Stake in Peoples Bancorp Inc. (NASDAQ:PEBO)

Geode Capital Management LLC grew its stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 850,654 shares of the bank’s stock after buying an additional 22,285 shares during the period. Geode Capital Management LLC’s holdings in Peoples Bancorp were worth $25,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in 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 in the last quarter. American Century Companies Inc. boosted its holdings in shares of Peoples Bancorp by 26.7% during the 2nd quarter. American Century Companies Inc. now owns 586,015 shares of the bank’s stock valued at $17,580,000 after purchasing an additional 123,423 shares during the last quarter. EMC Capital Management grew its position in shares of Peoples Bancorp by 787.3% during the third quarter. EMC Capital Management now owns 57,485 shares of the bank’s stock valued at $1,730,000 after purchasing an additional 51,006 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Peoples Bancorp in the third quarter worth about $1,244,000. Finally, Barclays PLC increased its holdings in shares of Peoples Bancorp by 138.9% in the third quarter. Barclays PLC now owns 63,096 shares of the bank’s stock worth $1,898,000 after purchasing an additional 36,684 shares during the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Stock Down 1.8 %

Shares of NASDAQ:PEBO opened at $31.90 on Friday. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 9.09 and a beta of 0.77. Peoples Bancorp Inc. has a 12 month low of $26.74 and a 12 month 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. The company has a 50-day moving average price of $33.61 and a 200 day moving average price of $31.61.

Peoples Bancorp (NASDAQ:PEBO) last posted 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 return on equity of 11.84% and a net margin of 20.16%. During the same period last year, the company earned $1.06 EPS. As a group, equities research analysts predict that Peoples Bancorp Inc. will post 3.31 earnings per share for the current year.

Peoples Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 4th were given a $0.40 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 5.02%. Peoples Bancorp’s dividend payout ratio is presently 45.58%.

Insiders Place Their Bets

In other news, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $34.13, for a total value of $34,130.00. Following the sale, the director now directly owns 29,322 shares in the company, valued at approximately $1,000,759.86. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew Edgell sold 3,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $34.36, for a total value of $103,080.00. Following the transaction, the insider now owns 16,092 shares of the company’s stock, valued at approximately $552,921.12. The trade was a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,445 shares of company stock valued at $393,806 over the last three months. 3.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PEBO has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price target on Peoples Bancorp from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler lowered their target price on Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Peoples Bancorp presently has an average rating of “Hold” and a consensus price target of $34.25.

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.