Peoples Bancorp (NASDAQ:PEBO) Stock Price Target Lowered at DA Davidson

Key Points

• DA Davidson lowered Peoples Bancorp’s price target from $44 to $42 while maintaining a “buy” rating, implying approximately 14.8% upside from the stock’s $36.59 price.
• Analyst sentiment remains favorable, with three buy ratings and two holds producing a consensus “Moderate Buy” rating and an average price target of $41.50.
• Peoples Bancorp beat quarterly expectations, reporting $0.96 in earnings per share versus the $0.85 consensus and revenue of $121.95 million versus estimates of $120.05 million.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) had its price target dropped by equities research analysts at DA Davidson from $44.00 to $42.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "buy" rating on the bank's stock. DA Davidson's price objective indicates a potential upside of 14.79% from the company's current price.

A number of other equities research analysts have also recently weighed in on PEBO. Keefe, Bruyette & Woods lifted their price objective on shares of Peoples Bancorp from $38.00 to $42.00 and gave the company a "market perform" rating in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Peoples Bancorp in a research note on Wednesday, August 26th. Finally, Piper Sandler set a $46.00 target price on shares of Peoples Bancorp in a report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Peoples Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $41.50.

Peoples Bancorp Stock Performance

Shares of NASDAQ PEBO opened at $36.59 on Thursday. Peoples Bancorp has a 52-week low of $27.49 and a 52-week high of $42.29. The stock has a market capitalization of $1.32 billion, a P/E ratio of 11.05 and a beta of 0.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average price is $40.10 and its two-hundred day moving average price is $36.89.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last issued its earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.11. Peoples Bancorp had a return on equity of 10.71% and a net margin of 19.17%.The firm had revenue of $121.95 million for the quarter, compared to analyst estimates of $120.05 million. As a group, sell-side analysts forecast that Peoples Bancorp will post 3.59 earnings per share for the current year.

Insider Activity at Peoples Bancorp

In other news, Director Dwight Smith purchased 1,000 shares of the business's stock in a transaction dated Thursday, July 23rd. The shares were acquired at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the acquisition, the director directly owned 10,256 shares of the company's stock, valued at $408,291.36. The trade was a 10.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew Edgell sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total transaction of $123,810.00. Following the completion of the transaction, the insider directly owned 20,183 shares of the company's stock, valued at $832,952.41. This represents a 12.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.31% of the company's stock.

Institutional Investors Weigh In On Peoples Bancorp

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Peoples Bancorp in the 2nd quarter valued at about $128,113,000. Dimensional Fund Advisors LP boosted its holdings in shares of Peoples Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,270,134 shares of the bank's stock worth $74,619,000 after purchasing an additional 21,273 shares during the period. Peoples Bank OH grew its position in Peoples Bancorp by 1.6% during the first quarter. Peoples Bank OH now owns 443,618 shares of the bank's stock valued at $14,582,000 after purchasing an additional 7,043 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Peoples Bancorp during the second quarter valued at approximately $10,181,000. Finally, Segall Bryant & Hamill LLC increased its stake in Peoples Bancorp by 28.5% in the 1st quarter. Segall Bryant & Hamill LLC now owns 259,843 shares of the bank's stock valued at $8,541,000 after buying an additional 57,650 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 financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides community banking services to consumers, businesses and institutions.

Its offerings include deposit accounts, residential and commercial mortgages, consumer and business loans, credit and debit cards, cash-management services and online and mobile banking. Peoples also provides wealth-management, trust and investment services, as well as insurance products through affiliated businesses.

Founded in 1902, Peoples Bancorp has developed a regional banking franchise serving communities across Ohio, West Virginia, Kentucky and Virginia.

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