StockNews.com Upgrades Peoples Bancorp (NASDAQ:PEBO) to “Buy”

StockNews.com upgraded shares of Peoples Bancorp (NASDAQ:PEBOGet Rating) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Other research analysts have also issued research reports about the company. Piper Sandler lowered Peoples Bancorp from an overweight rating to a neutral rating and decreased their price objective for the company from $31.00 to $30.00 in a report on Friday, July 8th. DA Davidson lifted their price target on Peoples Bancorp to $41.00 and gave the stock an outperform rating in a report on Wednesday, July 27th. Stephens lifted their price target on Peoples Bancorp to $34.00 in a report on Tuesday, August 23rd. Finally, B. Riley reduced their price target on Peoples Bancorp from $30.00 to $28.00 in a report on Monday, July 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Peoples Bancorp has an average rating of Hold and a consensus target price of $34.20.

Peoples Bancorp Trading Down 1.1 %

Shares of NASDAQ:PEBO opened at $29.53 on Thursday. Peoples Bancorp has a 1 year low of $25.63 and a 1 year high of $34.63. The firm has a market capitalization of $835.61 million, a price-to-earnings ratio of 12.15 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.77 and a quick ratio of 0.77. The business’s 50 day moving average price is $29.96 and its 200-day moving average price is $29.31.

Peoples Bancorp (NASDAQ:PEBOGet Rating) last announced its earnings results on Tuesday, July 26th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Peoples Bancorp had a return on equity of 10.61% and a net margin of 23.41%. During the same quarter last year, the business posted $0.81 EPS. On average, equities research analysts forecast that Peoples Bancorp will post 3.42 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 8th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Friday, August 5th. Peoples Bancorp’s payout ratio is 62.55%.

Insider Buying and Selling

In other Peoples Bancorp news, CEO Charles W. Sulerzyski sold 1,500 shares of Peoples Bancorp stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $31.17, for a total value of $46,755.00. Following the completion of the transaction, the chief executive officer now directly owns 70,928 shares of the company’s stock, valued at approximately $2,210,825.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Charles W. Sulerzyski sold 1,500 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $31.17, for a total transaction of $46,755.00. Following the completion of the transaction, the chief executive officer now directly owns 70,928 shares of the company’s stock, valued at $2,210,825.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin R. Reeves acquired 3,000 shares of the stock in a transaction dated Friday, August 5th. The shares were bought at an average cost of $29.80 per share, with a total value of $89,400.00. Following the completion of the transaction, the director now owns 5,708 shares of the company’s stock, valued at approximately $170,098.40. The disclosure for this purchase can be found here. Corporate insiders own 2.42% of the company’s stock.

Hedge Funds Weigh In On Peoples Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in Peoples Bancorp by 16.3% during the fourth quarter. Bank of America Corp DE now owns 88,237 shares of the bank’s stock worth $2,807,000 after purchasing an additional 12,390 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Peoples Bancorp by 24.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 10,568 shares of the bank’s stock worth $336,000 after purchasing an additional 2,095 shares during the last quarter. HM Payson & Co. purchased a new stake in Peoples Bancorp during the fourth quarter worth approximately $744,000. New Century Advisors LLC lifted its stake in Peoples Bancorp by 16.9% during the first quarter. New Century Advisors LLC now owns 5,811 shares of the bank’s stock worth $182,000 after purchasing an additional 840 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Peoples Bancorp during the first quarter worth approximately $3,302,000. 52.10% of the stock is owned by institutional investors and hedge funds.

Peoples Bancorp Company Profile

(Get Rating)

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and retail banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and provides commercial and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.

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Analyst Recommendations for Peoples Bancorp (NASDAQ:PEBO)

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