Keefe, Bruyette & Woods Reaffirms Market Perform Rating for Peoples Bancorp (NASDAQ:PEBO)

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Peoples Bancorp (NASDAQ:PEBO) in a report published on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $33.00 price target on the bank’s stock, down from their prior price target of $36.00.

Other research analysts have also issued reports about the company. Piper Sandler assumed coverage on Peoples Bancorp in a report on Friday, February 23rd. They set an overweight rating and a $34.00 target price on the stock. StockNews.com lowered Peoples Bancorp from a hold rating to a sell rating in a report on Friday, April 19th. Finally, Hovde Group assumed coverage on Peoples Bancorp in a report on Monday, April 1st. They set a market perform rating and a $31.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Peoples Bancorp currently has an average rating of Hold and a consensus target price of $33.40.

Peoples Bancorp Price Performance

Shares of PEBO opened at $29.76 on Wednesday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.91 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83. Peoples Bancorp has a one year low of $23.05 and a one year high of $34.85. The stock’s fifty day moving average is $28.33 and its 200-day moving average is $29.36.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. The company had revenue of $112.92 million for the quarter, compared to analyst estimates of $115.00 million. Peoples Bancorp had a return on equity of 12.93% and a net margin of 20.17%. Equities analysts anticipate that Peoples Bancorp will post 3.35 EPS for the current year.

Peoples Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be given a $0.40 dividend. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.38%. Peoples Bancorp’s dividend payout ratio (DPR) is 46.71%.

Hedge Funds Weigh In On Peoples Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. boosted its position in shares of Peoples Bancorp by 17.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,652 shares of the bank’s stock valued at $375,000 after purchasing an additional 1,900 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Peoples Bancorp in the 1st quarter valued at $118,000. Campbell & CO Investment Adviser LLC boosted its position in shares of Peoples Bancorp by 64.7% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 20,428 shares of the bank’s stock valued at $690,000 after purchasing an additional 8,027 shares during the period. Alpha DNA Investment Management LLC acquired a new stake in Peoples Bancorp during the 4th quarter worth about $526,000. Finally, Franklin Resources Inc. boosted its position in Peoples Bancorp by 13.3% during the 4th quarter. Franklin Resources Inc. now owns 1,815,196 shares of the bank’s stock worth $61,281,000 after acquiring an additional 213,264 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.

Peoples Bancorp Company Profile

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; 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.