Director Carol Schneeberger Sells 1,000 Shares of Peoples Bancorp

Peoples Bancorp Inc. has reported that Carol Schneeberger, a director of the company, sold 1,000 shares of stock on January 8, 2024. The shares were sold at an average price of $30.60, resulting in a total transaction value of $30,600.00. Following this sale, Schneeberger retains ownership of 22,204 shares, which are valued at approximately $679,442.40. This transaction represents a 4.31% decrease in her ownership stake in the company.

The sale was documented in a filing with the Securities and Exchange Commission (SEC), which is available on the SEC’s website. On the day of the sale, Peoples Bancorp’s stock experienced a slight decline, trading down 0.4% to $31.17 during midday trading on January 9, 2024. The trading volume was recorded at 25,678 shares, significantly lower than the average volume of 168,630 shares.

Financial Performance and Market Position

Peoples Bancorp currently has a market capitalization of $1.11 billion. The company’s financial metrics include a debt-to-equity ratio of 0.19, a current ratio of 0.83, and a quick ratio of 0.83. The stock has shown a price-to-earnings ratio of 10.90 and a beta of 0.65. Over the past year, the stock has fluctuated between a low of $26.21 and a high of $33.83.

The company released its latest earnings report on October 21, 2023, revealing an earnings per share (EPS) of $0.90 for the quarter, surpassing analysts’ expectations of $0.83 by $0.07. Peoples Bancorp achieved a net margin of 16.57% and a return on equity of 9.35%, with quarterly revenues of $118.51 million, exceeding estimates of $116.88 million. Analysts predict that the company will report an EPS of 3.28 for the current year.

Analyst Ratings and Hedge Fund Activity

In recent assessments, several research analysts have modified their ratings for Peoples Bancorp. Zacks Research upgraded the company from a “strong sell” to a “hold” rating on September 22, 2023. In contrast, Weiss Ratings raised its rating from “hold (c+)” to “buy (b-)” on December 29, 2023. Piper Sandler adjusted its price target from $36.00 to $33.50, maintaining an “overweight” rating. Additionally, Wall Street Zen upgraded the stock from “sell” to “hold” on October 25, 2023, while DA Davidson issued a new “buy” rating with a price target of $33.00 on October 22, 2023. Currently, three analysts rate the stock as a buy and three others as hold, resulting in an average rating of “Moderate Buy” with a target price of $33.13, according to data from MarketBeat.

Several hedge funds have also made adjustments to their positions in Peoples Bancorp. Royal Bank of Canada increased its stake by 4.9% during the first quarter, owning 23,996 shares valued at approximately $711,000. AQR Capital Management LLC raised its position by 46.5%, acquiring an additional 32,259 shares and bringing its total to 101,653 shares, worth $3,015,000. Other notable increases came from MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and UBS AM, which have also bolstered their holdings.

The data indicates that institutional and hedge fund investors currently own approximately 60.68% of Peoples Bancorp’s stock, reflecting a strong interest in the company among major financial players.

Peoples Bancorp, headquartered in Marietta, Ohio, operates through its subsidiary, Peoples Bank, providing a wide array of commercial and consumer banking services. Its offerings include checking and savings accounts, loans for various purposes, and digital banking solutions, aimed at both individual and institutional clients.