Peoples Bancorp (NASDAQ:PEBO) Hits New 1-Year High - Here's What Happened

Key Points

• Peoples Bancorp hit a new 52-week high of $34.98 on Friday (last trade $34.9740) with about 87,946 shares changing hands, giving the bank a market cap of roughly $1.23 billion and a P/E of 11.49.
• Analyst sentiment has turned positive recently: Weiss Ratings upgraded PEBO to a Buy, DA Davidson set a $35 price target, and the consensus on MarketBeat is a "Moderate Buy" with an average target of $33.63.
• The company reported an earnings beat (Q EPS $0.93 vs. $0.88 expected; revenue $119.57M vs. $117.97M) and recently paid a $0.41 quarterly dividend (annualized $1.64) for a 4.8% yield.

Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $34.98 and last traded at $34.9740, with a volume of 87946 shares traded. The stock had previously closed at $33.66.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PEBO. Weiss Ratings upgraded Peoples Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, January 27th. DA Davidson set a $35.00 price target on Peoples Bancorp in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Peoples Bancorp currently has an average rating of "Moderate Buy" and an average target price of $33.63.

Peoples Bancorp Stock Up 2.1%

The stock has a fifty day moving average of $32.91 and a 200 day moving average of $31.17. The firm has a market capitalization of $1.23 billion, a P/E ratio of 11.49 and a beta of 0.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last released its earnings results on Tuesday, January 20th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.05. Peoples Bancorp had a return on equity of 9.51% and a net margin of 17.27%.The business had revenue of $119.57 million during the quarter, compared to the consensus estimate of $117.97 million. On average, research analysts anticipate that Peoples Bancorp Inc. will post 3.28 EPS for the current fiscal year.

Peoples Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.64 annualized dividend and a yield of 4.8%. Peoples Bancorp's dividend payout ratio is 54.85%.

Insider Activity

In other Peoples Bancorp news, EVP Michael Ryan Kirkham sold 986 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $32.47, for a total transaction of $32,015.42. Following the sale, the executive vice president directly owned 16,289 shares of the company's stock, valued at $528,903.83. This represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carol A. Schneeberger sold 1,895 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $31.37, for a total transaction of $59,446.15. Following the sale, the director directly owned 19,309 shares in the company, valued at approximately $605,723.33. This trade represents a 8.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,881 shares of company stock worth $156,792. Insiders own 3.31% of the company's stock.

Institutional Investors Weigh In On Peoples Bancorp

Several institutional investors have recently added to or reduced their stakes in PEBO. Cetera Investment Advisers grew its position in Peoples Bancorp by 1.6% during the fourth quarter. Cetera Investment Advisers now owns 24,348 shares of the bank's stock worth $731,000 after buying an additional 385 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Peoples Bancorp by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank's stock worth $508,000 after buying an additional 400 shares in the last quarter. Shoker Investment Counsel Inc. grew its position in Peoples Bancorp by 1.4% during the third quarter. Shoker Investment Counsel Inc. now owns 29,449 shares of the bank's stock worth $883,000 after buying an additional 405 shares in the last quarter. Pathway Financial Advisers LLC grew its position in Peoples Bancorp by 1.2% during the fourth quarter. Pathway Financial Advisers LLC now owns 35,520 shares of the bank's stock worth $1,067,000 after buying an additional 414 shares in the last quarter. Finally, Inspire Investing LLC grew its position in Peoples Bancorp by 2.8% during the fourth quarter. Inspire Investing LLC now owns 15,582 shares of the bank's stock worth $468,000 after buying an additional 420 shares in the last quarter. 60.68% of the stock is owned by hedge funds and other institutional investors.

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.

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