Peoples Bancorp Inc. (NASDAQ:PEBO) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in Peoples Bancorp Inc. (NASDAQ:PEBO) by 24.1% during the 4th quarter, HoldingsChannel reports. The firm owned 2,200 shares of the bank’s stock after selling 700 shares during the period. Nisa Investment Advisors LLC’s holdings in Peoples Bancorp were worth $74,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PEBO. BlackRock Inc. grew its stake in shares of Peoples Bancorp by 18.3% in the 2nd quarter. BlackRock Inc. now owns 2,691,943 shares of the bank’s stock valued at $71,471,000 after purchasing an additional 416,748 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Peoples Bancorp by 56.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,031,164 shares of the bank’s stock valued at $27,377,000 after purchasing an additional 374,144 shares during the last quarter. Brown Advisory Inc. purchased a new position in shares of Peoples Bancorp in the 3rd quarter valued at approximately $5,383,000. State Street Corp grew its stake in shares of Peoples Bancorp by 14.3% in the 2nd quarter. State Street Corp now owns 943,894 shares of the bank’s stock valued at $25,060,000 after purchasing an additional 117,756 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Peoples Bancorp by 43.0% in the 2nd quarter. Northern Trust Corp now owns 389,745 shares of the bank’s stock valued at $10,348,000 after purchasing an additional 117,217 shares during the last quarter. 60.68% of the stock is currently owned by hedge funds and other institutional investors.

Peoples Bancorp Stock Up 3.4 %

Peoples Bancorp stock opened at $28.49 on Friday. 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 Inc. has a 1-year low of $23.05 and a 1-year high of $34.85. The company has a market cap of $1.01 billion, a PE ratio of 8.23 and a beta of 0.76. The stock’s 50 day moving average price is $28.23 and its 200 day moving average price is $29.25.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. Peoples Bancorp had a return on equity of 13.47% and a net margin of 21.52%. The firm had revenue of $112.92 million for the quarter, compared to the consensus estimate of $115.00 million. On average, sell-side analysts predict that Peoples Bancorp Inc. will post 3.39 EPS for the current fiscal year.

Peoples Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Monday, February 5th were given a dividend of $0.39 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 5.48%. Peoples Bancorp’s payout ratio is 45.09%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PEBO. Piper Sandler began coverage on Peoples Bancorp in a research note on Friday, February 23rd. They issued an “overweight” rating and a $34.00 target price on the stock. Hovde Group assumed coverage on Peoples Bancorp in a research note on Monday, April 1st. They issued a “market perform” rating and a $31.00 target price on the stock. Finally, StockNews.com downgraded Peoples Bancorp from a “hold” rating to a “sell” rating in a research note on Friday.

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.