Peoples Bancorp Inc. (NASDAQ:PEBO) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately positive: Six brokerages assign Peoples Bancorp a consensus “Moderate Buy” rating, with an average 12-month price target of $42.00.
• Peoples Bancorp exceeded quarterly expectations, reporting $0.96 earnings per share versus the $0.85 consensus estimate and revenue of $121.95 million. The company also declared a quarterly dividend of $0.42 per share, representing a 4.1% yield.
• PEBO shares opened at $41.38, near the company’s 52-week high of $42.29, while institutional investors own 60.68% of the stock. Insider activity was mixed, with a director buying 1,000 shares and another insider selling 3,000 shares.

Shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $42.00.

Several brokerages have recently commented on PEBO. Piper Sandler set a $46.00 price target on Peoples Bancorp in a research note on Wednesday, July 22nd. DA Davidson increased their target price on shares of Peoples Bancorp from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Peoples Bancorp in a research report on Friday, May 29th. Hovde Group boosted their price target on shares of Peoples Bancorp from $33.00 to $36.00 and gave the company a "market perform" rating in a report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Peoples Bancorp from $38.00 to $42.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 22nd.

Insider Buying and Selling

In related news, Director Dwight Eric Smith bought 1,000 shares of the company's stock in a transaction on Thursday, July 23rd. The shares were acquired at an average price of $39.81 per share, with a total value of $39,810.00. Following the transaction, the director 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 SEC, which can be accessed through this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the stock in a transaction 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 trade represents a 12.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 3.31% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Larson Financial Group LLC bought a new stake in Peoples Bancorp during the third quarter valued at about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Peoples Bancorp in the second quarter valued at about $33,000. Quarry LP bought a new position in Peoples Bancorp in the third quarter worth about $35,000. Allworth Financial LP bought a new position in Peoples Bancorp in the second quarter worth about $50,000. Finally, Strs Ohio purchased a new stake in shares of Peoples Bancorp during the first quarter valued at about $62,000. 60.68% of the stock is owned by institutional investors.

Peoples Bancorp Trading Up 0.1%

PEBO opened at $41.38 on Friday. 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 stock's fifty day moving average is $38.94 and its two-hundred day moving average is $35.32. The company has a market capitalization of $1.49 billion, a P/E ratio of 12.50 and a beta of 0.61. Peoples Bancorp has a 52 week low of $27.49 and a 52 week high of $42.29.

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 business had revenue of $121.95 million during the quarter, compared to analysts' expectations of $120.05 million. Analysts forecast that Peoples Bancorp will post 3.56 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, August 3rd. Peoples Bancorp's dividend payout ratio (DPR) is presently 50.76%.

Peoples Bancorp Company Profile

Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.

On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source