Peoples Bancorp (NASDAQ:PEBO) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Key Points

• Peoples Bancorp beat earnings expectations, reporting quarterly EPS of $0.96 versus the $0.84 consensus estimate, a surprise of $0.12 per share.
• The bank also slightly topped revenue forecasts, posting $121.95 million in quarterly revenue compared with analysts’ expectations of $120.05 million.
• The stock rose 1.3% following the report, and the company noted ongoing support from institutional investors and generally positive analyst sentiment, with an average rating of “Moderate Buy.”

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) issued its earnings results on Tuesday. The bank reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.12, FiscalAI reports. Peoples Bancorp had a net margin of 17.92% and a return on equity of 9.75%. The company had revenue of $121.95 million for the quarter, compared to analysts' expectations of $120.05 million.

Peoples Bancorp Trading Up 1.3%

PEBO opened at $39.91 on Tuesday. Peoples Bancorp has a fifty-two week low of $27.49 and a fifty-two week high of $40.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 12.67 and a beta of 0.62. The company's 50 day moving average price is $36.35 and its two-hundred day moving average price is $34.01.

Insider Activity

In other Peoples Bancorp news, Director Dwight Eric Smith purchased 1,000 shares of the company's stock in a transaction dated Monday, April 27th. The stock was purchased at an average price of $34.51 per share, with a total value of $34,510.00. Following the completion of the purchase, the director owned 9,256 shares of the company's stock, valued at approximately $319,424.56. The trade was a 12.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.31% of the company's stock.

Institutional Trading of Peoples Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of PEBO. Cetera Investment Advisers lifted its holdings in Peoples Bancorp by 1.6% in the fourth quarter. Cetera Investment Advisers now owns 24,348 shares of the bank's stock valued at $731,000 after buying an additional 385 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Peoples Bancorp by 2.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank's stock worth $508,000 after acquiring an additional 400 shares during the period. Inspire Investing LLC grew its holdings in Peoples Bancorp by 2.8% during the 4th quarter. Inspire Investing LLC now owns 15,582 shares of the bank's stock worth $468,000 after acquiring an additional 420 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Peoples Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,544 shares of the bank's stock worth $609,000 after acquiring an additional 862 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Peoples Bancorp by 1.5% in the 3rd quarter. Swiss National Bank now owns 69,100 shares of the bank's stock valued at $2,072,000 after purchasing an additional 1,000 shares during the period. 60.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on PEBO shares. Weiss Ratings restated a "buy (b)" rating on shares of Peoples Bancorp in a research note on Friday, May 29th. DA Davidson increased their price objective on shares of Peoples Bancorp from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Hovde Group boosted their target price on shares of Peoples Bancorp from $33.00 to $36.00 and gave the company a "market perform" rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler upped their price target on shares of Peoples Bancorp from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $39.00.

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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