Analysts have recently revised their ratings and price targets for Peoples Bancorp (NASDAQ: PEBO), reflecting a growing interest in the company. This comes shortly after the firm announced a quarterly dividend, further attracting investor attention.
On November 4, 2023, Peoples Bancorp paid a dividend of $0.41 per share to stockholders of record, which translates to an annualized dividend of $1.64 and a yield of 5.2%. The ex-dividend date for this payment was also November 4. Currently, the company’s payout ratio stands at 57.34%, indicating a balanced approach to returning value to shareholders while retaining capital for growth.
Recent Insider Transactions
In addition to the dividend announcement, insider activity has also been noteworthy. On November 11, 2023, Director Kevin R. Reeves acquired 1,250 shares of Peoples Bancorp at an average price of $29.11 per share, amounting to a total investment of $36,387.50. Following this transaction, Reeves increased his holdings to 13,055 shares, valued at approximately $380,031.05, reflecting a 10.59% increase in his ownership.
Similarly, Director W Glenn Hogan purchased 1,000 shares on November 7, 2023, at an average price of $28.49 per share, totaling $28,490.00. Post-transaction, Hogan’s ownership rose to 535,239 shares, valued around $15,248,959.11, representing a 0.19% increase in his stake.
In the past ninety days, insiders have acquired a total of 4,110 shares, valued at $118,832. Insiders currently hold 3.41% of the company’s stock, indicating a significant level of confidence in the firm’s future.
Company Overview
Peoples Bancorp Inc. functions as the holding company for Peoples Bank, offering a range of commercial and consumer banking products and services. The bank provides various deposit options, including demand deposit accounts, savings accounts, and money market accounts. It also extends an array of loans, including commercial, residential, and consumer loans, as well as home equity lines of credit.
This combination of a stable dividend and proactive insider purchases may influence analyst sentiment and investor interest in Peoples Bancorp as it continues to navigate the financial landscape.
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