Peoples Bancorp Inc. (NASDAQ:PEBO) Stock Holdings Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,908 shares of the bank’s stock after selling 7,424 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Peoples Bancorp were worth $2,900,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Peoples Bancorp by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,733,426 shares of the bank’s stock valued at $43,994,000 after acquiring an additional 12,449 shares in the last quarter. Private Management Group Inc. raised its stake in Peoples Bancorp by 8.7% during the 3rd quarter. Private Management Group Inc. now owns 634,249 shares of the bank’s stock valued at $16,097,000 after acquiring an additional 50,701 shares in the last quarter. Peoples Bank OH raised its stake in Peoples Bancorp by 0.9% during the 3rd quarter. Peoples Bank OH now owns 609,323 shares of the bank’s stock valued at $15,465,000 after acquiring an additional 5,721 shares in the last quarter. American Century Companies Inc. raised its stake in Peoples Bancorp by 15.0% during the 3rd quarter. American Century Companies Inc. now owns 273,435 shares of the bank’s stock valued at $6,940,000 after acquiring an additional 35,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Peoples Bancorp by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 258,240 shares of the bank’s stock valued at $6,554,000 after acquiring an additional 13,227 shares in the last quarter. Institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Stock Performance

Shares of NASDAQ PEBO opened at $29.76 on Monday. 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 has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.91 and a beta of 0.76. The stock’s fifty day simple moving average is $28.33 and its 200 day simple moving average is $29.41. Peoples Bancorp Inc. has a 52-week low of $23.05 and a 52-week high of $34.85.

Peoples Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.40 per share. This is an increase from Peoples Bancorp’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.38%. Peoples Bancorp’s payout ratio is currently 46.71%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PEBO. Hovde Group began coverage on Peoples Bancorp in a research report on Monday, April 1st. They set a “market perform” rating and a $31.00 price target on the stock. Stephens reiterated an “equal weight” rating and set a $34.00 price target on shares of Peoples Bancorp in a research report on Wednesday, April 24th. Piper Sandler began coverage on Peoples Bancorp in a research report on Friday, February 23rd. They set an “overweight” rating and a $34.00 price target on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $33.00 price target (down from $36.00) on shares of Peoples Bancorp in a research report on Wednesday, April 24th. Finally, StockNews.com upgraded Peoples Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.40.

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.