Peoples Bancorp Inc. (PEBO) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS
Peoples Bancorp Inc. (NASDAQ:PEBO) announced its quarterly earnings results on Tuesday. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.07, Morningstar.com reports. Peoples Bancorp had a return on equity of 7.28% and a net margin of 19.01%.
Peoples Bancorp (NASDAQ PEBO) traded up 2.51% on Wednesday, reaching $34.27. The company’s stock had a trading volume of 5,410 shares. Peoples Bancorp has a 12-month low of $21.71 and a 12-month high of $35.43. The company’s 50 day moving average price is $32.22 and its 200-day moving average price is $32.08. The stock has a market cap of $616.28 million, a PE ratio of 19.58 and a beta of 0.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Friday, August 4th will be given a $0.22 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $0.88 annualized dividend and a yield of 2.63%. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.20. Peoples Bancorp’s payout ratio is currently 45.45%.
Several research analysts have weighed in on PEBO shares. Keefe, Bruyette & Woods reissued a “neutral” rating on shares of Peoples Bancorp in a research report on Tuesday. BidaskClub cut Peoples Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research cut Peoples Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, ValuEngine raised Peoples Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $33.67.
In related news, Director Terry Thomas Sweet bought 1,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were bought at an average cost of $31.18 per share, for a total transaction of $31,180.00. Following the completion of the transaction, the director now owns 2,427 shares of the company’s stock, valued at approximately $75,673.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.04% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. LSV Asset Management raised its position in shares of Peoples Bancorp by 28.6% in the first quarter. LSV Asset Management now owns 375,848 shares of the bank’s stock valued at $11,899,000 after buying an additional 83,631 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Peoples Bancorp by 259.4% in the first quarter. JPMorgan Chase & Co. now owns 99,953 shares of the bank’s stock valued at $3,165,000 after buying an additional 72,141 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Peoples Bancorp by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,215,773 shares of the bank’s stock valued at $39,464,000 after buying an additional 53,501 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Peoples Bancorp by 14.6% in the first quarter. Renaissance Technologies LLC now owns 273,000 shares of the bank’s stock valued at $8,643,000 after buying an additional 34,700 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Peoples Bancorp by 59.2% in the first quarter. First Trust Advisors LP now owns 81,347 shares of the bank’s stock valued at $2,575,000 after buying an additional 30,243 shares during the last quarter. Institutional investors own 62.25% of the company’s stock.
About Peoples Bancorp
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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