Principal Financial Group Inc. Buys 3,453 Shares of Peoples Bancorp Inc. (NASDAQ:PEBO)

Principal Financial Group Inc. lifted its stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBOFree Report) by 25.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,844 shares of the bank’s stock after purchasing an additional 3,453 shares during the quarter. Principal Financial Group Inc.’s holdings in Peoples Bancorp were worth $499,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AJOVista LLC acquired a new stake in Peoples Bancorp during the fourth quarter worth about $36,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Peoples Bancorp during the 1st quarter worth approximately $118,000. Bfsg LLC acquired a new stake in shares of Peoples Bancorp during the 4th quarter worth approximately $174,000. Sapient Capital LLC acquired a new position in Peoples Bancorp during the fourth quarter valued at approximately $226,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Peoples Bancorp by 10.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,437 shares of the bank’s stock valued at $251,000 after purchasing an additional 693 shares in the last quarter. 60.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PEBO shares. StockNews.com raised Peoples Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Hovde Group initiated coverage on shares of Peoples Bancorp in a research note on Monday, April 1st. They issued a “market perform” rating and a $31.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $33.00 target price (down previously from $36.00) on shares of Peoples Bancorp in a report on Wednesday, April 24th. Finally, Stephens reaffirmed an “equal weight” rating and set a $34.00 price target on shares of Peoples Bancorp in a research note on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Peoples Bancorp currently has a consensus rating of “Hold” and an average price target of $33.00.

View Our Latest Analysis on Peoples Bancorp

Peoples Bancorp Trading Down 1.7 %

NASDAQ:PEBO opened at $28.87 on Friday. The firm has a fifty day simple moving average of $29.34 and a two-hundred day simple moving average of $29.53. Peoples Bancorp Inc. has a 12 month low of $24.84 and a 12 month high of $34.85. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 8.64 and a beta of 0.76.

Peoples Bancorp (NASDAQ:PEBOGet Free Report) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. Peoples Bancorp had a return on equity of 12.78% and a net margin of 20.17%. The company had revenue of $112.82 million for the quarter, compared to analyst estimates of $111.41 million. Analysts expect that Peoples Bancorp Inc. will post 3.44 EPS for the current fiscal year.

Peoples Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 6th were issued a dividend of $0.40 per share. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Friday, May 3rd. Peoples Bancorp’s payout ratio is currently 47.90%.

Insider Transactions at Peoples Bancorp

In other Peoples Bancorp news, CEO Tyler J. Wilcox sold 8,621 shares of Peoples Bancorp stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $29.01, for a total transaction of $250,095.21. Following the transaction, the chief executive officer now directly owns 40,231 shares of the company’s stock, valued at approximately $1,167,101.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 9,344 shares of company stock valued at $271,436 over the last ninety days. 3.46% of the stock is currently owned by insiders.

About Peoples Bancorp

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Peoples Bancorp (NASDAQ:PEBO)

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