Principal Financial Group Inc. Sells 1,021 Shares of Peoples Bancorp Inc. (NASDAQ:PEBO)

Principal Financial Group Inc. trimmed its position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 5.6% during the third quarter, Holdings Channel.com reports. The firm owned 17,091 shares of the bank’s stock after selling 1,021 shares during the period. Principal Financial Group Inc.’s holdings in Peoples Bancorp were worth $514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC grew its holdings in Peoples Bancorp by 42.0% during the third quarter. FMR LLC now owns 1,252 shares of the bank’s stock worth $38,000 after buying an additional 370 shares in the last quarter. CWM LLC raised its holdings in shares of Peoples Bancorp by 503.9% in the 3rd quarter. CWM LLC now owns 1,860 shares of the bank’s stock worth $56,000 after purchasing an additional 1,552 shares during the period. Quest Partners LLC lifted its stake in Peoples Bancorp by 20,273.3% in the second quarter. Quest Partners LLC now owns 3,056 shares of the bank’s stock valued at $92,000 after purchasing an additional 3,041 shares during the last quarter. nVerses Capital LLC grew its holdings in Peoples Bancorp by 322.2% during the third quarter. nVerses Capital LLC now owns 3,800 shares of the bank’s stock valued at $114,000 after purchasing an additional 2,900 shares during the period. Finally, Quantbot Technologies LP increased its position in Peoples Bancorp by 223.3% in the third quarter. Quantbot Technologies LP now owns 3,964 shares of the bank’s stock worth $119,000 after buying an additional 2,738 shares during the last quarter. 60.68% of the stock is owned by institutional investors.

Peoples Bancorp Trading Up 0.5 %

Shares of PEBO opened at $31.39 on Monday. Peoples Bancorp Inc. has a 1-year low of $26.74 and a 1-year high of $37.07. The company has a market capitalization of $1.12 billion, a P/E ratio of 8.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $33.69 and its 200 day simple moving average is $31.75.

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 the consensus estimate of $0.82 by $0.07. Peoples Bancorp had a net margin of 20.16% and a return on equity of 11.84%. The firm had revenue of $158.41 million for the quarter, compared to analysts’ expectations of $112.30 million. During the same quarter last year, the company posted $1.06 EPS. Sell-side analysts forecast that Peoples Bancorp Inc. will post 3.31 earnings per share for the current fiscal 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 dividend of $0.40 per share. The ex-dividend date was Monday, November 4th. This represents a $1.60 annualized dividend and a yield of 5.10%. Peoples Bancorp’s payout ratio is 45.58%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Peoples Bancorp news, Director David F. Dierker sold 2,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $35.36, for a total transaction of $70,720.00. Following the sale, the director now directly owns 1,214 shares in the company, valued at approximately $42,927.04. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director S Craig Beam sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $34.31, for a total transaction of $137,240.00. Following the transaction, the director now owns 23,760 shares in the company, valued at $815,205.60. This represents a 14.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,445 shares of company stock valued at $393,806 in the last ninety days. Company insiders own 3.46% of the company’s stock.

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.