California Public Employees Retirement System Raises Position in Peoples Bancorp Inc. (PEBO)

California Public Employees Retirement System boosted its holdings in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 10.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 51,873 shares of the bank’s stock after acquiring an additional 4,918 shares during the quarter. California Public Employees Retirement System’s holdings in Peoples Bancorp were worth $1,960,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Systematic Financial Management LP acquired a new stake in Peoples Bancorp in the second quarter valued at approximately $1,157,000. US Bancorp DE boosted its stake in Peoples Bancorp by 5,073.7% in the second quarter. US Bancorp DE now owns 8,847 shares of the bank’s stock valued at $335,000 after acquiring an additional 8,676 shares in the last quarter. WBI Investments Inc. acquired a new stake in Peoples Bancorp in the second quarter valued at approximately $862,000. Schwab Charles Investment Management Inc. boosted its stake in Peoples Bancorp by 20.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 98,307 shares of the bank’s stock valued at $3,715,000 after acquiring an additional 16,527 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Peoples Bancorp by 8.1% in the second quarter. BlackRock Inc. now owns 1,411,624 shares of the bank’s stock valued at $53,334,000 after acquiring an additional 106,316 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors.

NASDAQ:PEBO opened at $34.23 on Thursday. Peoples Bancorp Inc. has a 12 month low of $30.84 and a 12 month high of $39.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $660.69 million, a PE ratio of 15.01, a P/E/G ratio of 1.63 and a beta of 0.68.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Peoples Bancorp had a net margin of 20.72% and a return on equity of 9.80%. The business had revenue of $47.68 million during the quarter, compared to the consensus estimate of $47.46 million. On average, equities analysts predict that Peoples Bancorp Inc. will post 2.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.30 per share. This is an increase from Peoples Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, November 2nd. Peoples Bancorp’s payout ratio is presently 49.12%.

PEBO has been the subject of several recent analyst reports. Hovde Group set a $40.00 target price on shares of Peoples Bancorp and gave the company a “hold” rating in a research note on Wednesday, July 25th. Boenning Scattergood restated a “hold” rating on shares of Peoples Bancorp in a research note on Wednesday, July 25th. Zacks Investment Research upgraded shares of Peoples Bancorp from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Saturday, July 28th. BidaskClub downgraded shares of Peoples Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Finally, ValuEngine downgraded shares of Peoples Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.00.

About Peoples Bancorp

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and retail banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and provides commercial real estate construction loans, other commercial real estate loans, commercial and industrial loans, residential real estate loans, home equity lines of credit, and indirect and other consumer loans.

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

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