Craig S. Beam, a director at Peoples Bancorp Inc . (NASDAQ:), recently sold a total of 4,000 shares of the company’s common stock. The transactions, which took place on November 6, 2024, were executed at prices ranging from $33.75 to $35.00 per share. The total value of these sales amounted to $137,250.
Following these transactions, Beam’s direct ownership of Peoples Bancorp stock stands at 23,760 shares. The sales were disclosed in a Form 4 filing with the Securities and Exchange Commission, detailing Beam’s recent activity with the company’s stock.
In other recent news, Peoples Bancorp has reported its operational results for Q3 2024, showing an increase in earnings per share, net interest income, and fee-based income. The company’s diluted EPS rose to $0.89, while net interest income and fee-based income grew by 3% and 5% respectively. Non-interest expenses decreased by 4%, resulting in an improved efficiency ratio of 55.1%.
Peoples Bancorp also announced a rise in total deposits by $185 million, with client deposits surpassing $100 million. However, the bank noted an increase in classified loans due to two downgrades totaling nearly $10 million. Looking ahead, Peoples Bancorp anticipates continued loan growth and a healthy commercial loan pipeline for Q4. The bank also expects positive operating leverage and stabilization of net interest margins for 2025, despite a projected modest decline in net interest income and margin in Q4 2024 due to anticipated Federal Reserve rate cuts. These recent developments provide valuable insights into the bank’s performance and future expectations.
InvestingPro Insights
While Craig S. Beam’s recent sale of Peoples Bancorp Inc. (NASDAQ:PEBO) shares has caught investors’ attention, it’s important to consider the broader financial picture of the company. According to InvestingPro data, Peoples Bancorp has a market capitalization of $1.21 billion and is currently trading at a P/E ratio of 9.82, suggesting a relatively modest valuation compared to some peers in the banking sector.
Notably, Peoples Bancorp has demonstrated a commitment to shareholder returns. An InvestingPro Tip highlights that the company has maintained dividend payments for an impressive 51 consecutive years, with a current dividend yield of 4.52%. This long-standing dividend history may provide some reassurance to investors concerned about the director’s stock sale.
Another InvestingPro Tip indicates that PEBO is trading near its 52-week high, which aligns with the stock’s strong recent performance. The company has shown a significant return of 20.2% over the last month and 22.38% over the last three months, potentially explaining the timing of Beam’s decision to sell some shares.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights with 11 more tips available for Peoples Bancorp. These tips could provide valuable context for understanding the company’s financial health and future prospects beyond this recent insider transaction.
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