Peoples Bancorp Inc. (NASDAQ:PEBO) Downgraded to Sell at BidaskClub
Peoples Bancorp Inc. (NASDAQ:PEBO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Sunday.
A number of other research firms also recently commented on PEBO. Keefe, Bruyette & Woods restated a “hold” rating and issued a $32.00 price objective on shares of Peoples Bancorp in a report on Wednesday, April 26th. Zacks Investment Research downgraded Peoples Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. ValuEngine upgraded Peoples Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, DA Davidson began coverage on Peoples Bancorp in a report on Thursday, March 23rd. They issued a “neutral” rating and a $33.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.67.
Peoples Bancorp (PEBO) traded down 1.27% during midday trading on Friday, reaching $31.82. 41,642 shares of the company’s stock traded hands. The company’s 50-day moving average price is $31.87 and its 200 day moving average price is $32.06. The stock has a market capitalization of $572.22 million, a price-to-earnings ratio of 18.18 and a beta of 0.76. Peoples Bancorp has a 52 week low of $21.71 and a 52 week high of $35.43.
Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings data on Tuesday, April 25th. The bank reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Peoples Bancorp had a return on equity of 7.28% and a net margin of 19.01%. The firm had revenue of $40.28 million for the quarter, compared to the consensus estimate of $40.67 million. On average, equities research analysts expect that Peoples Bancorp will post $1.92 earnings per share for the current year.
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In related news, Director Terry Thomas Sweet purchased 1,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were bought at an average price of $31.18 per share, for a total transaction of $31,180.00. Following the completion of the acquisition, the director now directly owns 2,427 shares in the company, valued at approximately $75,673.86. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.04% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PEBO. Park National Corp OH bought a new position in shares of Peoples Bancorp during the second quarter valued at approximately $203,000. Goldman Sachs Group Inc. bought a new position in shares of Peoples Bancorp during the first quarter valued at approximately $217,000. Highbridge Capital Management LLC bought a new position in shares of Peoples Bancorp during the first quarter valued at approximately $232,000. AXA bought a new position in shares of Peoples Bancorp during the first quarter valued at approximately $253,000. Finally, American International Group Inc. increased its position in shares of Peoples Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 9,897 shares of the bank’s stock valued at $313,000 after buying an additional 659 shares during the period. Institutional investors own 62.26% of the company’s stock.
Peoples Bancorp Company Profile
Peoples Bancorp Inc is a financial holding company. The Company operates principally through its subsidiary, Peoples Bank. Peoples Bank’s operating subsidiaries include Peoples Insurance Agency, LLC (Peoples Insurance) and two asset management companies, PBNA, LLC. and Peoples Tax Credit Equity, LLC.
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