Peoples Bancorp (NASDAQ:PEBO) Stock Rating Lowered by Wall Street Zen

Key Points

• Peoples Bancorp has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a shift in analyst sentiment.
• The company's stock has a current average price target of $35.25, while it recently traded at $29.93, indicating potential upside.
• Recent insider activity includes Director Dwight Eric Smith purchasing 1,060 shares, increasing his ownership stake, while another director, Carol A. Schneeberger, sold shares, suggesting mixed confidence among insiders.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

PEBO has been the subject of a number of other reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Peoples Bancorp in a report on Saturday, September 27th. Zacks Research raised Peoples Bancorp from a "strong sell" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on Peoples Bancorp from $32.00 to $33.00 and gave the company a "market perform" rating in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Peoples Bancorp currently has an average rating of "Hold" and a consensus price target of $35.25.

Peoples Bancorp Stock Performance

PEBO traded up $0.24 during trading on Friday, reaching $29.93. 119,170 shares of the company's stock were exchanged, compared to its average volume of 126,940. Peoples Bancorp has a fifty-two week low of $26.21 and a fifty-two week high of $37.07. 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 business has a 50 day moving average price of $29.96 and a 200 day moving average price of $29.75. The company has a market capitalization of $1.07 billion, a P/E ratio of 10.25 and a beta of 0.63.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last issued its 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 business had revenue of $115.02 million for the quarter, compared to analyst estimates of $113.20 million. As a group, analysts predict that Peoples Bancorp will post 3.28 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dwight Eric Smith purchased 1,060 shares of Peoples Bancorp stock in a transaction dated 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 completion of the transaction, the director directly owned 6,999 shares in the company, valued at $211,859.73. This trade represents a 17.85% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carol A. Schneeberger sold 1,000 shares of Peoples Bancorp stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.83, for a total transaction of $30,830.00. Following 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 company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEBO. Raymond James Financial Inc. lifted its holdings in Peoples Bancorp by 422.4% during the second quarter. Raymond James Financial Inc. now owns 349,948 shares of the bank's stock worth $10,687,000 after acquiring an additional 282,960 shares in the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of Peoples Bancorp during the 1st quarter valued at about $8,294,000. Segall Bryant & Hamill LLC bought a new position in shares of Peoples Bancorp during the 1st quarter valued at about $4,986,000. CSM Advisors LLC bought a new position in shares of Peoples Bancorp during the 2nd quarter valued at about $4,887,000. Finally, Nuveen LLC bought a new position in Peoples Bancorp in the first quarter valued at approximately $3,721,000. 60.68% of the stock is currently owned by 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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