Peoples Bancorp (NASDAQ:PEBO) Rating Increased to Hold at Zacks Research

Key Points

• Peoples Bancorp has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, indicating a more positive outlook for the stock.
• Recent reports show that analysts also increased the price target for Peoples Bancorp shares from $32.00 to $33.00, with a consensus price target of $35.25.
• The company reported earnings of $0.60 per share, which missed expectations by $0.18, despite revenue slightly exceeding forecasts at $115.02 million.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Peoples Bancorp from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Wall Street Zen raised shares of Peoples Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Peoples Bancorp has a consensus rating of "Hold" and an average price target of $35.25.

Peoples Bancorp Stock Performance

Shares of NASDAQ PEBO opened at $30.29 on Monday. The firm's 50-day moving average price is $30.05 and its 200-day moving average price is $29.73. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.08 billion, a PE ratio of 10.37 and a beta of 0.67. Peoples Bancorp has a 52-week low of $26.21 and a 52-week high of $37.07.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.18). The company had revenue of $115.02 million for the quarter, compared to analysts' expectations of $113.20 million. Peoples Bancorp had a net margin of 16.88% and a return on equity of 9.46%. As a group, analysts anticipate that Peoples Bancorp will post 3.28 EPS for the current year.

Insider Buying and Selling

In other Peoples Bancorp news, Director Dwight Eric Smith purchased 1,060 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were bought at an average cost of $30.27 per share, with a total value of $32,086.20. Following the acquisition, the director owned 6,999 shares in the company, valued at approximately $211,859.73. This trade represents a 17.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carol A. Schneeberger sold 1,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $30.83, for a total value of $30,830.00. Following the completion of the transaction, the director directly owned 24,330 shares in the company, valued at approximately $750,093.90. This represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC purchased a new position in Peoples Bancorp in the 1st quarter worth approximately $299,000. New York State Common Retirement Fund lifted its holdings in Peoples Bancorp by 55.3% in the 1st quarter. New York State Common Retirement Fund now owns 18,815 shares of the bank's stock worth $558,000 after purchasing an additional 6,700 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Peoples Bancorp during the 1st quarter worth approximately $289,000. Principal Financial Group Inc. raised its holdings in shares of Peoples Bancorp by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 19,137 shares of the bank's stock worth $568,000 after acquiring an additional 707 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Peoples Bancorp by 12.7% during the 1st quarter. American Century Companies Inc. now owns 854,771 shares of the bank's stock worth $25,353,000 after acquiring an additional 96,556 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 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.

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