Peoples Bancorp Inc. (NASDAQ:PEBO) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in Peoples Bancorp Inc. (NASDAQ:PEBO) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,441 shares of the bank’s stock after selling 1,126 shares during the period. Wedge Capital Management L L P NC’s holdings in Peoples Bancorp were worth $705,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Peoples Bancorp by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,465,385 shares of the bank’s stock valued at $73,960,000 after buying an additional 6,712 shares in the last quarter. Vanguard Group Inc. grew its position in Peoples Bancorp by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,904,357 shares of the bank’s stock valued at $56,388,000 after acquiring an additional 18,272 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Peoples Bancorp by 26.7% during the second 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 period. Bank of New York Mellon Corp lifted its position in shares of Peoples Bancorp by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 318,966 shares of the bank’s stock worth $9,569,000 after purchasing an additional 4,270 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Peoples Bancorp by 8.2% in the first quarter. ProShare Advisors LLC now owns 272,372 shares of the bank’s stock valued at $8,065,000 after purchasing an additional 20,732 shares during the period. 60.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler began coverage on shares of Peoples Bancorp in a research note on Friday, October 4th. They set an “overweight” rating and a $39.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.25.

Insider Activity at Peoples Bancorp

In other Peoples Bancorp news, Director David F. Dierker sold 1,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $30.36, for a total transaction of $30,360.00. Following the completion of the sale, the director now owns 10,330 shares in the company, valued at $313,618.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 2,121 shares of company stock valued at $64,340. Corporate insiders own 3.46% of the company’s stock.

Peoples Bancorp Trading Up 0.7 %

NASDAQ PEBO opened at $32.22 on Friday. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.82. Peoples Bancorp Inc. has a 12 month low of $25.04 and a 12 month high of $34.85. The company’s fifty day moving average price is $30.46 and its two-hundred day moving average price is $30.02.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). The company had revenue of $154.47 million for the quarter, compared to the consensus estimate of $111.30 million. Peoples Bancorp had a return on equity of 12.76% and a net margin of 20.58%. During the same period in the previous year, the business posted $0.83 EPS. As a group, research analysts predict that Peoples Bancorp Inc. will post 3.29 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were issued a $0.40 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.97%. Peoples Bancorp’s dividend payout ratio (DPR) is 47.90%.

About Peoples Bancorp

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.