Peoples Bancorp (NASDAQ:PEBO) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Peoples Bancorp shares crossed above their 200-day moving average, reaching $40.18 and last trading at $39.61, compared with a 200-day average of $36.43.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $42.00; recent quarterly earnings also exceeded expectations, with EPS of $0.96 versus the $0.85 consensus.
• The company pays a quarterly dividend of $0.42, equivalent to a 4.2% annualized yield, while institutional investors own 60.68% of outstanding shares.

Shares of Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $36.43 and traded as high as $40.18. Peoples Bancorp shares last traded at $39.61, with a volume of 322,253 shares trading hands.

Wall Street Analysts Forecast Growth

PEBO has been the subject of a number of research reports. Piper Sandler set a $46.00 target price on shares of Peoples Bancorp in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Peoples Bancorp in a report on Wednesday, August 26th. DA Davidson increased their price target on Peoples Bancorp from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on Peoples Bancorp from $38.00 to $42.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $42.00.

Peoples Bancorp Trading Down 1.4%

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.42 billion, a PE ratio of 11.97 and a beta of 0.59. The company's 50-day moving average is $40.15 and its 200 day moving average is $36.43.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.11. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. The firm had revenue of $121.95 million for the quarter, compared to analysts' expectations of $120.05 million. As a group, sell-side analysts predict that Peoples Bancorp Inc. will post 3.56 EPS for the current year.

Peoples Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, August 3rd. Peoples Bancorp's dividend payout ratio (DPR) is 50.76%.

Insiders Place Their Bets

In other Peoples Bancorp news, Director Dwight Smith bought 1,000 shares of the company's stock in a transaction dated Thursday, July 23rd. The shares were bought at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the acquisition, the director directly owned 10,256 shares of the company's stock, valued at approximately $408,291.36. This trade represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total transaction of $123,810.00. Following the completion of the sale, the insider directly owned 20,183 shares of the company's stock, valued at $832,952.41. This trade represents a 12.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.31% of the company's stock.

Institutional Investors Weigh In On Peoples Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Peoples Bancorp during the 2nd quarter valued at $33,000. Allworth Financial LP acquired a new position in shares of Peoples Bancorp in the second quarter worth $50,000. Deutsche Bank AG purchased a new stake in shares of Peoples Bancorp during the second quarter worth $190,000. PNC Financial Services Group Inc. raised its holdings in shares of Peoples Bancorp by 39.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,558 shares of the bank's stock worth $150,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Peoples Bancorp during the second quarter valued at $201,000. Hedge funds and other institutional investors own 60.68% of the company's stock.

About Peoples Bancorp

Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides community banking services to consumers, businesses and institutions.

Its offerings include deposit accounts, residential and commercial mortgages, consumer and business loans, credit and debit cards, cash-management services and online and mobile banking. Peoples also provides wealth-management, trust and investment services, as well as insurance products through affiliated businesses.

Founded in 1902, Peoples Bancorp has developed a regional banking franchise serving communities across Ohio, West Virginia, Kentucky and Virginia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.