Commonwealth Financial Services LLC Lowers Holdings in Peoples Bancorp Inc. (NASDAQ:PEBO)

Commonwealth Financial Services LLC reduced its position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 40.5% in the third quarter, Holdings Channel reports. The firm owned 24,854 shares of the bank’s stock after selling 16,939 shares during the period. Commonwealth Financial Services LLC’s holdings in Peoples Bancorp were worth $733,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its position in shares of Peoples Bancorp by 3.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,043 shares of the bank’s stock worth $362,000 after purchasing an additional 381 shares during the last quarter. nVerses Capital LLC grew its stake in Peoples Bancorp by 322.2% in the 3rd quarter. nVerses Capital LLC now owns 3,800 shares of the bank’s stock worth $114,000 after buying an additional 2,900 shares in the last quarter. Creative Planning increased its holdings in shares of Peoples Bancorp by 36.4% in the 3rd quarter. Creative Planning now owns 32,185 shares of the bank’s stock worth $968,000 after buying an additional 8,594 shares during the last quarter. Inspire Investing LLC raised its position in shares of Peoples Bancorp by 16.0% during the 3rd quarter. Inspire Investing LLC now owns 13,718 shares of the bank’s stock valued at $413,000 after buying an additional 1,890 shares in the last quarter. Finally, CWM LLC raised its position 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 in the last quarter. Institutional investors own 60.68% of the company’s stock.

Insider Transactions at Peoples Bancorp

In other Peoples Bancorp news, Director David F. Dierker sold 1,000 shares of Peoples Bancorp stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $30.36, for a total value of $30,360.00. Following the transaction, the director now directly owns 10,330 shares of the company’s stock, valued at $313,618.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 2,121 shares of company stock worth $64,340. Company insiders own 3.46% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Peoples Bancorp presently has an average rating of “Hold” and a consensus price target of $33.50.

Peoples Bancorp Price Performance

PEBO traded down $0.06 during midday trading on Thursday, hitting $30.90. The stock had a trading volume of 14,618 shares, compared to its average volume of 123,912. The company has a market cap of $1.10 billion, a P/E ratio of 8.80 and a beta of 0.75. Peoples Bancorp Inc. has a 1 year low of $25.24 and a 1 year high of $34.85. The business has a fifty day moving average of $30.58 and a 200 day moving average of $30.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82.

Peoples Bancorp (NASDAQ:PEBO) last released its earnings results on Tuesday, October 22nd. The bank reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. The company had revenue of $158.41 million for the quarter, compared to analyst estimates of $112.30 million. Peoples Bancorp had a net margin of 20.58% and a return on equity of 12.76%. During the same quarter last year, the firm earned $1.06 EPS. As a group, equities analysts forecast that Peoples Bancorp Inc. will post 3.29 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The business also recently disclosed 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 of this dividend is Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.18%. Peoples Bancorp’s dividend payout ratio (DPR) is currently 45.45%.

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.