Peoples Bancorp Inc. (NASDAQ:PEBO) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Peoples Bancorp “Moderate Buy”: Three analysts recommend buying the stock, one rates it a strong buy, and two recommend holding. The average 12-month price target is $42.00 versus a recent price of $38.39.
• Peoples Bancorp exceeded quarterly expectations, reporting $1.04 EPS versus the $0.93 consensus estimate and revenue of $124.52 million. Analysts expect full-year earnings of approximately $3.74 per share.
• The bank declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 4.4% yield. Insiders have sold 7,650 shares over the past 90 days, while institutional investors own 60.68% of the stock.

Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report) has earned an average rating of "Moderate Buy" from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $42.00.

PEBO has been the topic of a number of recent research reports. Piper Sandler increased their price objective on Peoples Bancorp from $46.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, October 22nd. Zacks Research raised Peoples Bancorp from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 1st. DA Davidson reduced their target price on Peoples Bancorp from $44.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, October 1st. Keefe, Bruyette & Woods reiterated a "market perform" rating on shares of Peoples Bancorp in a research report on Monday, October 5th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Peoples Bancorp in a report on Wednesday, August 26th.

Peoples Bancorp Trading Down 0.1%

Shares of PEBO stock opened at $38.39 on Thursday. The company's fifty day simple moving average is $38.46 and its two-hundred day simple moving average is $35.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. Peoples Bancorp has a 1 year low of $28.01 and a 1 year high of $42.29. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 11.32 and a beta of 0.62.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last posted its earnings results on Tuesday, October 20th. The bank reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. Peoples Bancorp had a return on equity of 11.10% and a net margin of 19.76%. The firm had revenue of $124.52 million for the quarter, compared to the consensus estimate of $123.40 million. As a group, analysts anticipate that Peoples Bancorp will post 3.74 earnings per share for the current year.

Peoples Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.68 annualized dividend and a yield of 4.4%. Peoples Bancorp's payout ratio is currently 49.56%.

Insider Buying and Selling

In other Peoples Bancorp news, insider Matthew Edgell sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.27, for a total value of $123,810.00. Following the sale, the insider directly owned 20,183 shares in the company, valued at $832,952.41. This represents a 12.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Hugh Donlon sold 2,650 shares of the stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $38.12, for a total transaction of $101,018.00. Following the completion of the sale, the executive vice president owned 18,365 shares in the company, valued at $700,073.80. This represents a 12.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 7,650 shares of company stock valued at $300,588. Company insiders own 3.31% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP grew its position in Peoples Bancorp by 13.7% during the second quarter. Engineers Gate Manager LP now owns 8,504 shares of the bank's stock worth $327,000 after buying an additional 1,023 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Peoples Bancorp in the 2nd quarter worth about $207,000. Allworth Financial LP raised its holdings in shares of Peoples Bancorp by 87.0% in the 2nd quarter. Allworth Financial LP now owns 1,307 shares of the bank's stock valued at $50,000 after acquiring an additional 608 shares in the last quarter. Waverly Advisors LLC raised its holdings in shares of Peoples Bancorp by 3.5% in the 2nd quarter. Waverly Advisors LLC now owns 14,754 shares of the bank's stock valued at $567,000 after acquiring an additional 505 shares in the last quarter. Finally, Corient Private Wealth LP purchased a new stake in shares of Peoples Bancorp in the 2nd quarter valued at about $324,000. Institutional investors own 60.68% of the company's stock.

Peoples Bancorp Company Profile

Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides banking and financial services to individuals, businesses, nonprofit organizations and public-sector customers.

Peoples Bank offers deposit accounts, residential and commercial lending, consumer loans, credit cards, treasury management and other financial services. The company also provides wealth management, trust and investment services, as well as insurance products through affiliated operations.

Founded in 1902, Peoples Bancorp serves communities primarily in Ohio, West Virginia, Kentucky and Virginia through a network of banking offices and digital banking channels.

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