Peoples Bancorp (NASDAQ:PEBO) Share Price Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• PEBO briefly slipped below its 50-day moving average, trading as low as $38.09 versus the $38.28 average, and last traded at $38.27.
• Analysts’ consensus remains Moderate Buy, with an average price target of $42; recent ratings included upgrades and target increases, alongside one target reduction.
• The bank beat quarterly earnings expectations, reporting $1.04 per share versus $0.93 forecast, and announced a $0.42 quarterly dividend, equivalent to a 4.4% annual yield.

Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $38.28 and traded as low as $38.09. Peoples Bancorp shares last traded at $38.27, with a volume of 308,944 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on PEBO. Zacks Research upgraded shares of Peoples Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 1st. Piper Sandler raised their price objective on shares of Peoples Bancorp from $46.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, October 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Peoples Bancorp in a research report on Wednesday, August 26th. Keefe, Bruyette & Woods reissued a "market perform" rating on shares of Peoples Bancorp in a research report on Monday, October 5th. Finally, DA Davidson cut their target price on shares of Peoples Bancorp from $44.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Peoples Bancorp Trading Down 0.3%

The company has a market cap of $1.38 billion, a price-to-earnings ratio of 11.29 and a beta of 0.63. The firm has a 50-day moving average price of $38.28 and a 200 day moving average price of $36.37. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The bank reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.11. The business had revenue of $124.52 million during the quarter, compared to the consensus estimate of $123.40 million. Peoples Bancorp had a return on equity of 11.08% and a net margin of 19.76%. As a group, sell-side analysts forecast that Peoples Bancorp Inc. will post 3.74 EPS for the current year.

Peoples Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, November 2nd. Peoples Bancorp's payout ratio is currently 49.56%.

Insider Buying and Selling at Peoples Bancorp

In other Peoples Bancorp news, EVP Mark Augenstein sold 2,000 shares of the firm's stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $37.88, for a total value of $75,760.00. Following the transaction, the executive vice president owned 24,885 shares of the company's stock, valued at $942,643.80. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Hugh J. Donlon sold 2,650 shares of Peoples Bancorp stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $38.12, for a total value of $101,018.00. Following the completion of the transaction, the executive vice president owned 18,365 shares of the company's stock, valued at approximately $700,073.80. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.31% of the stock is owned by insiders.

Institutional Trading of Peoples Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in PEBO. Fifth Third Bancorp boosted its position in Peoples Bancorp by 7.4% during the 3rd quarter. Fifth Third Bancorp now owns 15,643 shares of the bank's stock valued at $572,000 after purchasing an additional 1,075 shares during the period. StoneX Group Inc. bought a new position in Peoples Bancorp during the 3rd quarter worth $507,000. Pictet Asset Management Holding SA grew its stake in Peoples Bancorp by 5.9% during the 3rd quarter. Pictet Asset Management Holding SA now owns 5,882 shares of the bank's stock worth $215,000 after buying an additional 328 shares during the last quarter. Vise Technologies Inc. increased its position in Peoples Bancorp by 103.7% in the third quarter. Vise Technologies Inc. now owns 12,069 shares of the bank's stock worth $442,000 after buying an additional 6,145 shares during the period. Finally, Engineers Gate Manager LP increased its position in Peoples Bancorp by 13.7% in the second quarter. Engineers Gate Manager LP now owns 8,504 shares of the bank's stock worth $327,000 after buying an additional 1,023 shares during the period. 60.68% of the stock is currently owned by institutional investors and hedge funds.

About Peoples Bancorp

Peoples Bancorp Inc. is a financial holding company headquartered in Marietta, Ohio. Its principal subsidiary, Peoples Bank, provides commercial and consumer banking services to individuals, businesses and local organizations. The company offers deposit accounts, loans, payment services and other banking products, along with services such as wealth management, insurance and equipment financing. Its branches and service areas extend across Ohio, West Virginia, Kentucky and Virginia. Peoples traces its history to 1902, when it was established in Marietta.

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