Bank of America Corp DE cut its position in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,298 shares of the bank’s stock after selling 2,940 shares during the period. Bank of America Corp DE’s holdings in Peoples Bancorp were worth $1,561,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in Peoples Bancorp by 46.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 41,100 shares of the bank’s stock worth $1,302,000 after buying an additional 13,100 shares during the period. Renaissance Technologies LLC increased its stake in Peoples Bancorp by 14.6% in the first quarter. Renaissance Technologies LLC now owns 273,000 shares of the bank’s stock worth $8,643,000 after buying an additional 34,700 shares during the period. Dimensional Fund Advisors LP increased its stake in Peoples Bancorp by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,265,231 shares of the bank’s stock worth $40,057,000 after buying an additional 49,458 shares during the period. Geode Capital Management LLC increased its stake in Peoples Bancorp by 5.9% in the first quarter. Geode Capital Management LLC now owns 152,195 shares of the bank’s stock worth $4,818,000 after buying an additional 8,521 shares during the period. Finally, Vanguard Group Inc. increased its stake in Peoples Bancorp by 2.8% in the first quarter. Vanguard Group Inc. now owns 681,733 shares of the bank’s stock worth $21,584,000 after buying an additional 18,418 shares during the period. Hedge funds and other institutional investors own 60.94% of the company’s stock.

Shares of Peoples Bancorp Inc. (PEBO) traded up 0.58% during trading on Wednesday, reaching $31.12. The company had a trading volume of 2,062 shares. The stock’s 50-day moving average price is $32.01 and its 200-day moving average price is $32.10. Peoples Bancorp Inc. has a 12 month low of $22.66 and a 12 month high of $35.43. The stock has a market capitalization of $560.66 million, a PE ratio of 16.82 and a beta of 0.76.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Peoples Bancorp had a return on equity of 7.63% and a net margin of 19.67%. The business had revenue of $41.68 million during the quarter, compared to analyst estimates of $40.81 million. Equities analysts forecast that Peoples Bancorp Inc. will post $2.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Friday, August 4th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.84%. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, August 2nd. Peoples Bancorp’s dividend payout ratio is 47.57%.

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A number of research firms recently weighed in on PEBO. BidaskClub downgraded Peoples Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded Peoples Bancorp from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research note on Friday, July 28th. Boenning Scattergood restated a “hold” rating on shares of Peoples Bancorp in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods restated a “neutral” rating on shares of Peoples Bancorp in a research note on Tuesday, July 25th. Finally, ValuEngine upgraded Peoples Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Peoples Bancorp has a consensus rating of “Hold” and a consensus target price of $34.33.

In other Peoples Bancorp news, Director Terry Thomas Sweet acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was acquired at an average cost of $31.18 per share, with a total value of $31,180.00. Following the acquisition, the director now directly owns 2,427 shares of the company’s stock, valued at approximately $75,673.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.04% of the company’s stock.

About Peoples Bancorp

Peoples Bancorp Inc is a financial holding company. The Company operates principally through its subsidiary, Peoples Bank. Peoples Bank’s operating subsidiaries include Peoples Insurance Agency, LLC (Peoples Insurance) and two asset management companies, PBNA, LLC. and Peoples Tax Credit Equity, LLC.

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

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