Peoples Bancorp (NASDAQ:PEBO) Earns Market Perform Rating from Analysts at Hovde Group

Research analysts at Hovde Group started coverage on shares of Peoples Bancorp (NASDAQ:PEBO - Get Free Report) in a note issued to investors on Monday, StockNewsAPI reports. The brokerage set a "market perform" rating and a $31.00 price target on the bank's stock. Hovde Group's price objective indicates a potential upside of 7.94% from the stock's previous close.

Several other research firms have also recently weighed in on PEBO. Piper Sandler assumed coverage on Peoples Bancorp in a research note on Friday, February 23rd. They set an "overweight" rating and a $34.00 target price for the company. StockNews.com upgraded Peoples Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $31.80.

Peoples Bancorp Price Performance

Shares of PEBO stock traded down $0.89 during trading on Monday, hitting $28.72. The company had a trading volume of 166,726 shares, compared to its average volume of 127,959. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $1.02 billion, a P/E ratio of 8.30 and a beta of 0.76. The stock's 50-day moving average price is $28.62 and its 200 day moving average price is $29.03. Peoples Bancorp has a one year low of $23.05 and a one year high of $34.85.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.10. The business had revenue of $112.92 million during the quarter, compared to analysts' expectations of $115.00 million. Peoples Bancorp had a return on equity of 13.47% and a net margin of 21.52%. Equities analysts expect that Peoples Bancorp will post 3.39 EPS for the current fiscal year.

Insider Activity

In other news, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $32.27, for a total value of $32,270.00. Following the completion of the transaction, the director now directly owns 31,213 shares in the company, valued at approximately $1,007,243.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of Peoples Bancorp by 17.8% in the 3rd quarter. Alps Advisors Inc. now owns 13,294 shares of the bank's stock valued at $337,000 after buying an additional 2,009 shares during the period. Principal Financial Group Inc. grew its stake in shares of Peoples Bancorp by 48.4% in the 3rd quarter. Principal Financial Group Inc. now owns 11,632 shares of the bank's stock valued at $295,000 after buying an additional 3,796 shares during the period. Federated Hermes Inc. grew its stake in shares of Peoples Bancorp by 1.6% in the 3rd quarter. Federated Hermes Inc. now owns 24,023 shares of the bank's stock valued at $610,000 after buying an additional 382 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Peoples Bancorp by 136.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 78,527 shares of the bank's stock valued at $1,993,000 after buying an additional 45,328 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Peoples Bancorp by 15.0% in the 3rd quarter. American Century Companies Inc. now owns 273,435 shares of the bank's stock valued at $6,940,000 after buying an additional 35,603 shares during the period. 60.68% of the stock is currently owned by institutional investors.

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.