Peoples Bancorp director sells $750 of stock

In a recent transaction, Carol A. Schneeberger, a director at Peoples Bancorp Inc . (NASDAQ:PEBO), sold shares of the company's common stock. The sale, which took place on August 8, 2024, involved 25 shares at a price of $30.024 per share, totaling $750.

The transaction was disclosed in a regulatory filing with the Securities and Exchange Commission (SEC). Following the sale, Schneeberger's holdings in Peoples Bancorp Inc. decreased to 30,963 shares of common stock.

Peoples Bancorp Inc., based in Marietta, Ohio, operates as a state commercial bank and is known for its financial services in the region. The bank's shares are traded under the ticker symbol PEBO on the NASDAQ exchange.

Investors often monitor insider transactions, such as those by directors, executives, and significant shareholders, for insights into the company's performance and value. The sale by Schneeberger represents a relatively small transaction in comparison to her overall stake in the company.

The filing did not include any specific reasons for the sale, nor did it suggest any immediate future plans for additional transactions. As with all insider filings, the disclosed information is required for compliance with SEC regulations and provides transparency for investors.

In other recent news, Peoples Bancorp Inc. reported significant financial results and developments. The company announced a core non-interest expense of $68.8 million for the quarter and a tangible book value per common share of $18.91. Peoples Bancorp's pre-provision net revenue for the quarter was $42.3 million, showing an increase from the same period last year.

The firm also reported an adjusted net income of $29.6 million for the quarter, translating to an annualized net income of $119.1 million. Peoples Bancorp declared a quarterly cash dividend of $0.40 per common share, payable in August 2024, representing 49% of the company's reported earnings for the second quarter of 2024.

Peoples Bancorp CEO Tyler J. Wilcox signed a new change in control agreement, replacing a previous agreement from 2019. Analysts at firms such as Keefe, Bruyette & Woods and DA Davidson have updated their outlooks for the company. In terms of mergers, Peoples Bancorp is optimistic about the benefits of the Limestone merger, anticipating loan growth of 6-8% for 2024. These are recent developments in the ongoing narrative of Peoples Bancorp Inc.

InvestingPro Insights

Peoples Bancorp Inc. (NASDAQ:PEBO) has demonstrated a commitment to its shareholders through consistent dividend payments, having maintained them for an impressive 51 years. This dedication is further underscored by the company's record of raising its dividend for 8 consecutive years. While the recent insider sale by director Carol A. Schneeberger represents a minor adjustment to her holdings, it's important for investors to consider the broader financial health and performance metrics of the company.

InvestingPro Data highlights that Peoples Bancorp Inc. has a market capitalization of approximately $1.02 billion, with a Price to Earnings (P/E) ratio of 8.29, reflecting investor sentiment about its earnings potential. The company's revenue has grown by 20.37% over the last twelve months as of Q2 2024, which is a robust indicator of its operational success. However, the company's PEG ratio stands at 3.13, suggesting that the stock may be trading at a premium relative to its earnings growth.

Investors looking for income-generating investments might find Peoples Bancorp appealing due to its dividend yield of 5.45% as of August 2024. This is particularly noteworthy in the current market environment where yield is highly valued.

For those seeking further insights, there are additional InvestingPro Tips available, including analysis on downward earnings revisions by analysts and the implications of the company's high P/E ratio in the near term. These tips, along with others, can be found on the InvestingPro platform, providing a comprehensive view of Peoples Bancorp Inc.'s financial profile and future outlook.

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