Federated Hermes Inc. Boosts Holdings in Peoples Bancorp Inc. (NASDAQ:PEBO)

Federated Hermes Inc. boosted its position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 220.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,995 shares of the bank’s stock after acquiring an additional 52,972 shares during the period. Federated Hermes Inc.’s holdings in Peoples Bancorp were worth $2,599,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PEBO. Allspring Global Investments Holdings LLC lifted its position in Peoples Bancorp by 46.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,078 shares of the bank’s stock valued at $53,000 after acquiring an additional 663 shares during the last quarter. EMC Capital Management lifted its position in Peoples Bancorp by 214.9% during the third quarter. EMC Capital Management now owns 7,292 shares of the bank’s stock valued at $185,000 after acquiring an additional 4,976 shares during the last quarter. Sapient Capital LLC purchased a new stake in Peoples Bancorp during the fourth quarter valued at approximately $226,000. Jupiter Asset Management Ltd. purchased a new position in shares of Peoples Bancorp in the third quarter worth $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Peoples Bancorp by 10.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,437 shares of the bank’s stock worth $251,000 after buying an additional 693 shares during the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PEBO. StockNews.com raised shares of Peoples Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Piper Sandler began coverage on shares of Peoples Bancorp in a report on Friday, February 23rd. They issued an “overweight” rating and a $34.00 price target for the company. Hovde Group began coverage on shares of Peoples Bancorp in a report on Monday, April 1st. They issued a “market perform” rating and a $31.00 price target for the company. Stephens reaffirmed an “equal weight” rating and issued a $34.00 price target on shares of Peoples Bancorp in a report on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $33.00 price target (down previously from $36.00) on shares of Peoples Bancorp in a report on Wednesday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.40.

Peoples Bancorp Stock Down 1.5 %

NASDAQ:PEBO opened at $29.76 on Friday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 8.91 and a beta of 0.76. Peoples Bancorp Inc. has a 1-year low of $23.05 and a 1-year high of $34.85. The company’s fifty day moving average price is $28.33 and its 200-day moving average price is $29.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.83.

Peoples Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.38%. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.39. Peoples Bancorp’s dividend payout ratio is presently 46.71%.

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.