Peoples Bancorp (NASDAQ:PEBO) Receives "Hold (C+)" Rating from Weiss Ratings

Key Points

• Peoples Bancorp has received a "hold (C+)" rating from Weiss Ratings, with a consensus target price of $35.25 as several firms adjust their ratings on the stock.
• The company's recent quarterly earnings showed a miss on EPS expectations, reporting $0.60 compared to the anticipated $0.78, despite a revenue of $115.02 million exceeding projections.
• Insider trading activity includes Director Dwight Eric Smith purchasing 1,060 shares at an average price of $30.27, while Director Carol A. Schneeberger sold 1,000 shares at $30.22.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other research firms have also weighed in on PEBO. Keefe, Bruyette & Woods increased their price target on Peoples Bancorp from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Zacks Research upgraded Peoples Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, September 22nd. Finally, Wall Street Zen lowered Peoples Bancorp from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $35.25.

Peoples Bancorp Stock Performance

NASDAQ:PEBO opened at $30.00 on Wednesday. The stock's fifty day moving average is $30.00 and its 200 day moving average is $29.76. Peoples Bancorp has a fifty-two week low of $26.21 and a fifty-two week high of $37.07. The firm has a market capitalization of $1.07 billion, a PE ratio of 10.27 and a beta of 0.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82.

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

Insider Buying and Selling at Peoples Bancorp

In other news, Director Dwight Eric Smith purchased 1,060 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were acquired at an average price of $30.27 per share, with a total value of $32,086.20. Following the transaction, the director owned 6,999 shares of the company's stock, valued at $211,859.73. This represents a 17.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $30.22, for a total value of $30,220.00. Following the transaction, the director directly owned 23,767 shares in the company, valued at $718,238.74. The trade was a 4.04% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.41% of the company's stock.

Hedge Funds Weigh In On Peoples Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Peoples Bancorp by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 926,866 shares of the bank's stock worth $28,309,000 after buying an additional 26,786 shares in the last quarter. American Century Companies Inc. grew its position in shares of Peoples Bancorp by 7.1% during the 2nd quarter. American Century Companies Inc. now owns 915,692 shares of the bank's stock worth $27,965,000 after buying an additional 60,921 shares in the last quarter. Private Management Group Inc. grew its position in shares of Peoples Bancorp by 1.3% during the 2nd quarter. Private Management Group Inc. now owns 612,568 shares of the bank's stock worth $18,708,000 after buying an additional 8,058 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Peoples Bancorp by 422.4% during the 2nd quarter. Raymond James Financial Inc. now owns 349,948 shares of the bank's stock worth $10,687,000 after buying an additional 282,960 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its position in shares of Peoples Bancorp by 2.1% during the 2nd quarter. Bridgeway Capital Management LLC now owns 294,790 shares of the bank's stock worth $9,003,000 after buying an additional 5,976 shares in the last quarter. Institutional investors own 60.68% of the company's stock.

About Peoples Bancorp

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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