David F. Dierker, a director at Peoples Bancorp Inc . (NASDAQ:PEBO), recently executed a series of transactions involving the sale of common stock. According to a filing with the Securities and Exchange Commission, Dierker sold shares on November 26, with the transaction amounting to a total of $16,327. The sales were executed at prices ranging from $35.39 to $35.63 per share.
These transactions were conducted under a Rule 10b5-1 trading plan that Dierker adopted on February 12, 2024. Following these sales, Dierker holds 5,254 shares of Peoples Bancorp. The transactions were facilitated by M. Ryan Kirkham, acting as an attorney-in-fact for Dierker.
In other recent news, Peoples Bancorp Inc. has reported its financial performance for the third quarter of 2024. The company noted a decrease in core non-interest expenses to $66.8 million from the $71.7 million reported in the same period last year. The firm's adjusted net income for the third quarter was $31.8 million, and its tangible book value per common share increased to $20.29 as of September 30, 2024, up from $16.52 in the same period last year.
The bank also reported a successful third quarter in 2024, with an increase in earnings per share to $0.89 from $0.82 in the previous quarter. Furthermore, net interest income and fee-based income grew by 3% and 5% respectively, and total deposits grew by $185 million. However, classified loans increased due to two downgrades totaling nearly $10 million.
Looking forward, Peoples Bancorp expects continued loan growth and a healthy commercial loan pipeline for the fourth quarter. The bank also anticipates 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 are recent developments as reported by the company and analysts.
InvestingPro Insights
In light of David F. Dierker's recent stock sales, it's worth examining some key financial metrics and insights for Peoples Bancorp Inc. (NASDAQ:PEBO). According to InvestingPro data, the company currently has a market capitalization of $1.23 billion and a price-to-earnings (P/E) ratio of 10.01, which suggests 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 4.53%. This long-standing dividend history may provide some context for investors considering the stock's stability and management's dedication to returning value to shareholders.
However, it's important to note that six analysts have revised their earnings downwards for the upcoming period, according to another InvestingPro Tip. This could potentially signal some headwinds or challenges that the company may face in the near term.
The company's financial performance shows mixed signals. While Peoples Bancorp has seen revenue growth of 10.64% over the last twelve months, its quarterly revenue growth as of Q3 2024 was negative at -4.85%. This recent decline in quarterly revenue might be a factor contributing to the analyst downgrades mentioned earlier.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights, with 8 more tips available for Peoples Bancorp. These additional tips could provide a more nuanced understanding of the company's financial health and future prospects.
David F. Dierker, a director at Peoples Bancorp Inc. (NASDAQ:PEBO), recently executed a series of transactions involving the sale of common stock. According to a filing with the Securities and Exchange Commission, Dierker sold shares on November 26, with the transaction amounting to a total of $16,327. The sales were executed at prices ranging from $35.39 to $35.63 per share.
These transactions were conducted under a Rule 10b5-1 trading plan that Dierker adopted on February 12, 2024. Following these sales, Dierker holds 5,254 shares of Peoples Bancorp. The transactions were facilitated by M. Ryan Kirkham, acting as an attorney-in-fact for Dierker.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.