Peoples Bancorp Inc. (NASDAQ:PEBO) Given Average Recommendation of “Moderate Buy” by Brokerages

Peoples Bancorp Inc. (NASDAQ:PEBO) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $42.00.

Several analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a research note on Friday, May 29th. Piper Sandler set a $46.00 price objective on Peoples Bancorp in a research report on Wednesday. DA Davidson increased their price objective on Peoples Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their target price on Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Hovde Group boosted their target price on Peoples Bancorp from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, April 22nd.

Peoples Bancorp Stock Performance

Shares of PEBO opened at $40.31 on Tuesday. The firm has a market cap of $1.45 billion, a P/E ratio of 12.18 and a beta of 0.62. Peoples Bancorp has a twelve month low of $27.49 and a twelve month high of $40.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s 50 day moving average price is $36.89 and its two-hundred day moving average price is $34.26.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.96 EPS for the quarter, beating the consensus estimate of $0.85 by $0.11. The business had revenue of $121.95 million for the quarter, compared to analysts’ expectations of $120.05 million. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.79%. On average, analysts forecast that Peoples Bancorp will post 3.56 EPS for the current fiscal year.

Peoples Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, August 3rd. Peoples Bancorp’s payout ratio is currently 50.76%.

Insider Buying and Selling

In other Peoples Bancorp news, Director Dwight Eric Smith bought 1,000 shares of Peoples Bancorp stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $34.51 per share, for a total transaction of $34,510.00. Following the completion of the acquisition, the director owned 9,256 shares of the company’s stock, valued at $319,424.56. This trade represents a 12.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp

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

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.