Keefe, Bruyette & Woods Boosts Peoples Bancorp (NASDAQ:PEBO) Price Target to $42.00

Peoples Bancorp (NASDAQ:PEBO) had its price target increased by investment analysts at Keefe, Bruyette & Woods from $38.00 to $42.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 5.53% from the stock’s previous close.

Several other analysts have also weighed in on PEBO. DA Davidson upped their price objective on Peoples Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp in a report on Friday, May 29th. Piper Sandler set a $46.00 price target on shares of Peoples Bancorp in a research report on Wednesday. Finally, Hovde Group boosted their price target on shares of 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.00.

Peoples Bancorp Price Performance

Shares of NASDAQ:PEBO opened at $39.80 on Wednesday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 12.02 and a beta of 0.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.84 and a quick ratio of 0.83. Peoples Bancorp has a 12 month low of $27.49 and a 12 month high of $40.50. The stock’s 50 day moving average price is $36.74 and its 200 day moving average price is $34.22.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.11. Peoples Bancorp had a return on equity of 10.79% and a net margin of 19.17%.The firm had revenue of $121.95 million during the quarter, compared to analyst estimates of $120.05 million. Equities research analysts anticipate that Peoples Bancorp will post 3.51 earnings per share for the current fiscal year.

Insider Activity at Peoples Bancorp

In related news, Director Dwight Eric Smith acquired 1,000 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $34.51 per share, for a total transaction of $34,510.00. Following 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On Peoples Bancorp

A number of hedge funds have recently modified their holdings of PEBO. Segall Bryant & Hamill LLC lifted its holdings in shares of Peoples Bancorp by 28.5% during the first quarter. Segall Bryant & Hamill LLC now owns 259,843 shares of the bank’s stock valued at $8,541,000 after purchasing an additional 57,650 shares during the last quarter. Amundi purchased a new position in Peoples Bancorp in the 1st quarter worth about $312,000. Royal Bank of Canada increased its stake in Peoples Bancorp by 10.0% in the 1st quarter. Royal Bank of Canada now owns 6,586 shares of the bank’s stock worth $216,000 after purchasing an additional 600 shares in the last quarter. Empowered Funds LLC increased its stake in Peoples Bancorp by 6.1% in the 1st quarter. Empowered Funds LLC now owns 162,004 shares of the bank’s stock worth $5,325,000 after purchasing an additional 9,258 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Peoples Bancorp by 169.7% during the 1st quarter. Quantinno Capital Management LP now owns 44,883 shares of the bank’s stock worth $1,475,000 after buying an additional 28,243 shares during the period. 60.68% of the stock is currently 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.