Peoples Bancorp (NASDAQ:PEBO) Reaches New 52-Week High – Should You Buy?

Peoples Bancorp Inc. (NASDAQ:PEBO) shares reached a new 52-week high on Monday . The company traded as high as $38.84 and last traded at $38.2380, with a volume of 1406535 shares traded. The stock had previously closed at $38.53.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a research note on Friday, May 29th. Piper Sandler upped their price target on Peoples Bancorp from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday. DA Davidson increased their price target on Peoples Bancorp from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Hovde Group lifted their price objective on Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Peoples Bancorp Trading Up 1.3%

The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $35.12 and its 200-day moving average is $33.26. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 12.31 and a beta of 0.62.

Peoples Bancorp (NASDAQ:PEBO) last posted its earnings results on Tuesday, April 21st. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.02. Peoples Bancorp had a net margin of 17.92% and a return on equity of 9.75%. The company had revenue of $119.33 million for the quarter, compared to analyst estimates of $118.72 million. Research analysts anticipate that Peoples Bancorp Inc. will post 3.4 earnings per share for the current fiscal year.

Peoples Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were issued a $0.42 dividend. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, May 4th. Peoples Bancorp’s payout ratio is currently 53.85%.

Insiders Place Their Bets

In other Peoples Bancorp news, Director Dwight Eric Smith acquired 1,000 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $34.51 per share, for a total transaction of $34,510.00. Following the completion of the transaction, the director owned 9,256 shares of the company’s stock, valued at approximately $319,424.56. The trade was a 12.11% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.31% of the company’s stock.

Institutional Trading of Peoples Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of PEBO. D.A. Davidson & CO. raised its holdings in Peoples Bancorp by 1.3% in the 1st quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank’s stock valued at $801,000 after buying an additional 320 shares during the period. Cetera Investment Advisers boosted its stake in Peoples Bancorp by 1.6% during the fourth quarter. Cetera Investment Advisers now owns 24,348 shares of the bank’s stock worth $731,000 after buying an additional 385 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Peoples Bancorp by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank’s stock valued at $508,000 after acquiring an additional 400 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Peoples Bancorp by 1.2% during the fourth quarter. Pathway Financial Advisers LLC now owns 35,520 shares of the bank’s stock valued at $1,067,000 after acquiring an additional 414 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Peoples Bancorp by 2.8% in the 4th quarter. Inspire Investing LLC now owns 15,582 shares of the bank’s stock valued at $468,000 after acquiring an additional 420 shares during the period. 60.68% of the stock is owned by institutional investors and hedge funds.

About Peoples Bancorp

Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.

On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.