Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Peoples Bancorp Inc. (NASDAQ:PEBO)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 12.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 46,595 shares of the bank’s stock after purchasing an additional 5,260 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Peoples Bancorp were worth $1,477,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEBO. Shoker Investment Counsel Inc. increased its position in Peoples Bancorp by 1.0% during the fourth quarter. Shoker Investment Counsel Inc. now owns 31,467 shares of the bank’s stock valued at $997,000 after acquiring an additional 316 shares during the last quarter. FMR LLC boosted its stake in shares of Peoples Bancorp by 42.0% during the 3rd quarter. FMR LLC now owns 1,252 shares of the bank’s stock worth $38,000 after purchasing an additional 370 shares during the period. Arizona State Retirement System grew its holdings in Peoples Bancorp by 6.1% during the 4th quarter. Arizona State Retirement System now owns 10,304 shares of the bank’s stock valued at $327,000 after purchasing an additional 595 shares during the last quarter. D.A. Davidson & CO. raised its position in Peoples Bancorp by 2.7% in the 3rd quarter. D.A. Davidson & CO. now owns 23,961 shares of the bank’s stock worth $721,000 after purchasing an additional 626 shares during the period. Finally, US Bancorp DE lifted its stake in Peoples Bancorp by 172.8% in the fourth quarter. US Bancorp DE now owns 1,094 shares of the bank’s stock worth $35,000 after purchasing 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

Several research analysts have issued reports on PEBO shares. DA Davidson cut their target price on Peoples Bancorp from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler boosted their price objective on Peoples Bancorp from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and issued a $37.50 target price on shares of Peoples Bancorp in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Peoples Bancorp from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.90.

Peoples Bancorp Trading Up 0.4 %

PEBO opened at $30.03 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average is $31.67 and its two-hundred day moving average is $32.03. The company has a market capitalization of $1.07 billion, a P/E ratio of 9.07 and a beta of 0.75. Peoples Bancorp Inc. has a 52 week low of $27.10 and a 52 week high of $37.07.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.76 EPS for the quarter, beating the consensus estimate of $0.75 by $0.01. Peoples Bancorp had a return on equity of 11.07% and a net margin of 18.90%. During the same quarter last year, the company earned $1.04 EPS. Analysts forecast that Peoples Bancorp Inc. will post 3.28 earnings per share for the current year.

Peoples Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.60 annualized dividend and a dividend yield of 5.33%. Peoples Bancorp’s payout ratio is presently 48.34%.

Insider Activity

In other news, Director Carol A. Schneeberger sold 1,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.83, for a total value of $32,830.00. Following the completion of the transaction, the director now directly owns 26,686 shares of the company’s stock, valued at approximately $876,101.38. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 3,000 shares of company stock worth $94,050. Corporate insiders own 3.41% of the company’s stock.

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.