Peoples Bancorp (NASDAQ:PEBO) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Shares climbed above the 200-day moving average, trading as high as $34.36 and last at $34.14 on volume of 155,798 shares, versus a 200-day MA of $31.56.
• Analysts hold a consensus "Moderate Buy" with an average price target of $37.00, and several firms recently raised targets (e.g., Piper Sandler to $41, Hovde to $36), leaving ratings split between three Buys and three Holds.
• Peoples Bancorp beat the quarter with $0.82 EPS (vs. $0.80 est.) and slightly higher revenue, and raised its quarterly dividend to $0.42 (annualized $1.68) for a ~4.9% yield.

Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $31.56 and traded as high as $34.36. Peoples Bancorp shares last traded at $34.14, with a volume of 155,798 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PEBO. Weiss Ratings upgraded Peoples Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, January 27th. Hovde Group raised their target price on Peoples Bancorp from $33.00 to $36.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 22nd. Piper Sandler raised their target price on Peoples Bancorp from $37.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Finally, DA Davidson raised their target price on Peoples Bancorp from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Peoples Bancorp Trading Up 1.0%

The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 10.94 and a beta of 0.63. The company has a 50-day moving average price of $33.06 and a 200 day moving average price of $31.56. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.15.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last issued its earnings results on Tuesday, April 21st. The bank reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. The business had revenue of $119.33 million during the quarter, compared to analysts' expectations of $118.72 million. Peoples Bancorp had a return on equity of 9.75% and a net margin of 17.92%. As a group, research analysts anticipate that Peoples Bancorp Inc. will post 3.41 earnings per share for the current fiscal year.

Peoples Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 18th. Investors of record on Monday, May 4th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, May 4th. This is a positive change from Peoples Bancorp's previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 4.9%. Peoples Bancorp's payout ratio is 53.85%.

Insider Activity at Peoples Bancorp

In related news, Director Carol A. Schneeberger sold 1,895 shares of Peoples Bancorp stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $31.37, for a total transaction of $59,446.15. Following the completion of the sale, the director owned 19,309 shares of the company's stock, valued at approximately $605,723.33. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight Eric Smith acquired 1,000 shares of Peoples Bancorp stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average cost of $34.51 per share, with a total value of $34,510.00. Following the transaction, 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 position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 4,881 shares of company stock valued at $156,792. Insiders own 3.31% of the company's stock.

Institutional Trading of Peoples Bancorp

A number of institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. boosted its position in Peoples Bancorp by 1.3% during the first quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank's stock valued at $801,000 after purchasing an additional 320 shares during the last quarter. Fifth Third Bancorp raised its holdings in Peoples Bancorp by 163.3% during the first quarter. Fifth Third Bancorp now owns 14,813 shares of the bank's stock valued at $487,000 after buying an additional 9,188 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Peoples Bancorp by 43.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 69,663 shares of the bank's stock valued at $2,290,000 after buying an additional 21,107 shares in the last quarter. Peoples Bank OH raised its holdings in Peoples Bancorp by 1.6% during the first quarter. Peoples Bank OH now owns 443,618 shares of the bank's stock valued at $14,582,000 after buying an additional 7,043 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its holdings in Peoples Bancorp by 2.9% during the first quarter. Pathway Financial Advisers LLC now owns 36,540 shares of the bank's stock valued at $1,201,000 after buying an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 60.68% of the company's stock.

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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