Bank of New York Mellon Corp cut its stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 119,464 shares of the bank’s stock after selling 2,962 shares during the period. Bank of New York Mellon Corp owned about 0.65% of Peoples Bancorp worth $4,013,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. raised its stake in Peoples Bancorp by 361.7% during the 2nd quarter. Citigroup Inc. now owns 6,694 shares of the bank’s stock valued at $215,000 after buying an additional 5,244 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Peoples Bancorp during the 3rd quarter valued at $252,000. Goldman Sachs Group Inc. raised its stake in Peoples Bancorp by 36.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 9,344 shares of the bank’s stock valued at $300,000 after buying an additional 2,499 shares during the last quarter. Voya Investment Management LLC raised its stake in Peoples Bancorp by 8.4% during the 2nd quarter. Voya Investment Management LLC now owns 12,654 shares of the bank’s stock valued at $407,000 after buying an additional 983 shares during the last quarter. Finally, Advisor Group Inc. purchased a new stake in Peoples Bancorp during the 2nd quarter valued at $458,000. Institutional investors and hedge funds own 63.50% of the company’s stock.
Shares of Peoples Bancorp Inc. (PEBO) opened at $33.22 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $596.33, a price-to-earnings ratio of 16.45, a PEG ratio of 2.16 and a beta of 0.73. Peoples Bancorp Inc. has a 12 month low of $29.55 and a 12 month high of $35.43.
A number of equities research analysts have weighed in on the stock. BidaskClub lowered shares of Peoples Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $34.00 target price on shares of Peoples Bancorp in a research note on Tuesday, October 3rd. Zacks Investment Research lowered shares of Peoples Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Boenning Scattergood restated a “hold” rating on shares of Peoples Bancorp in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $35.00.
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Peoples Bancorp Profile
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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