David F. Dierker, a director at Peoples Bancorp Inc . (NASDAQ:PEBO), has recently sold shares of the company's common stock. According to a filing with the Securities and Exchange Commission, Dierker disposed of a total of 512 shares on November 26, 2024, in a series of transactions executed under a pre-established Rule 10b5-1 trading plan.
The shares were sold at prices ranging from $35.64 to $35.97 per share, totaling approximately $19,281. Following these transactions, Dierker retains ownership of 4,714 shares of Peoples Bancorp's common stock.
These transactions are part of a trading plan Dierker adopted on February 12, 2024, allowing for the systematic sale of shares over time. The plan provides a framework for insiders to sell shares in a manner that complies with insider trading laws.
In other recent news, Peoples Bancorp Inc. reported a successful Q3 in 2024, with an increase in earnings per share, net interest income, and fee-based income. The company's diluted EPS rose to $0.89 from $0.82 in the previous quarter, while net interest income and fee-based income grew by 3% and 5% respectively. Concurrently, non-interest expenses decreased by 4%, leading to an improved efficiency ratio of 55.1%.
The bank also reported a growth in total deposits by $185 million, with a significant client deposit increase surpassing $100 million. Despite a decline in criticized loans, classified loans increased 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 company also expects positive operating leverage and stabilization of net interest margins for 2025. However, a modest decline in net interest income and margin is expected in Q4 2024 due to anticipated Federal Reserve rate cuts. These developments provide a glimpse into the bank's performance and future expectations.
InvestingPro Insights
As David F. Dierker's recent stock sale unfolds, it's worth examining Peoples Bancorp Inc. (NASDAQ:PEBO) through the lens of additional financial metrics and expert insights. According to InvestingPro data, PEBO currently boasts a market capitalization of $1.23 billion and trades at a price-to-earnings ratio of 10.01, suggesting a relatively modest valuation compared to some peers in the banking sector.
One of the standout InvestingPro Tips highlights that Peoples Bancorp has maintained dividend payments for an impressive 51 consecutive years, demonstrating a strong commitment to shareholder returns. This consistency is further underscored by the company's current dividend yield of 4.53%, which may be attractive to income-focused investors.
Another relevant InvestingPro Tip indicates that PEBO has shown a strong return over the last month, with data revealing a 17.86% price total return in that period. This recent performance could be of interest to investors considering the timing of insider transactions like Dierker's sale.
For those seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for Peoples Bancorp, providing a deeper dive into the company's financial health and market position. These insights can be particularly valuable when evaluating the context of insider trading activities and overall investment potential.
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