Peoples Bancorp (NASDAQ:PEBO) Stock: Insider Dwight Eric Smith Purchases 300 Shares

Key Points

• Director Dwight Eric Smith purchased 300 Peoples Bancorp shares at an average price of $38.66, investing $11,598 and increasing his direct stake by 2.93% to 10,556 shares.
• Peoples Bancorp’s latest quarterly results exceeded expectations, with earnings of $1.04 per share versus the $0.93 consensus estimate and revenue of $124.52 million.
• The company declared a quarterly dividend of $0.42 per share, equivalent to a 4.4% annualized yield, while analysts maintain a “Moderate Buy” consensus and a $42 price target.

Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report) Director Dwight Smith acquired 300 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were bought at an average cost of $38.66 per share, for a total transaction of $11,598.00. Following the completion of the transaction, the director directly owned 10,556 shares of the company's stock, valued at $408,094.96. This represents a 2.93% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Peoples Bancorp Stock Down 0.1%

PEBO stock traded down $0.03 during midday trading on Tuesday, reaching $38.45. The company had a trading volume of 162,877 shares, compared to its average volume of 302,809. The company has a 50 day moving average of $38.57 and a two-hundred day moving average of $35.89. The company has a market capitalization of $1.38 billion, a P/E ratio of 11.34 and a beta of 0.62. Peoples Bancorp Inc. has a 1 year low of $28.01 and a 1 year high of $42.29. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The bank reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.11. Peoples Bancorp had a net margin of 19.76% and a return on equity of 11.10%. The business had revenue of $124.52 million for the quarter, compared to the consensus estimate of $123.40 million. On average, equities research analysts expect that Peoples Bancorp Inc. will post 3.74 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

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

Analysts Set New Price Targets

PEBO has been the subject of several research reports. DA Davidson reduced their price target 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 reaffirmed a "market perform" rating on shares of Peoples Bancorp in a research report on Monday, October 5th. Piper Sandler lifted their target price on shares of Peoples Bancorp from $46.00 to $48.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Peoples Bancorp in a research note on Wednesday, August 26th. Finally, Zacks Research raised shares of Peoples Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Peoples Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Institutional Trading of Peoples Bancorp

Several hedge funds have recently added to or reduced their stakes in PEBO. Engineers Gate Manager LP increased its position in Peoples Bancorp by 13.7% in the 2nd 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 during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Peoples Bancorp in the second quarter worth $207,000. Allworth Financial LP grew its stake in shares of Peoples Bancorp by 87.0% in the second quarter. Allworth Financial LP now owns 1,307 shares of the bank's stock worth $50,000 after acquiring an additional 608 shares during the last quarter. Waverly Advisors LLC increased its position in Peoples Bancorp by 3.5% during the second quarter. Waverly Advisors LLC now owns 14,754 shares of the bank's stock worth $567,000 after acquiring an additional 505 shares during the period. Finally, Corient Private Wealth LP bought a new position in Peoples Bancorp during the second quarter worth $324,000. Institutional investors own 60.68% of the company's stock.

About Peoples Bancorp

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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