Peoples Bancorp (NASDAQ:PEBO – Get Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Separately, Piper Sandler began coverage on shares of Peoples Bancorp in a report on Friday, February 23rd. They issued an “overweight” rating and a $34.00 target price for the company.
Read Our Latest Analysis on PEBO
Peoples Bancorp Stock Down 1.7 %
Peoples Bancorp (NASDAQ:PEBO – Get Free Report) last issued its earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.10. The business had revenue of $112.92 million during the quarter, compared to analysts’ expectations of $115.00 million. Peoples Bancorp had a net margin of 21.52% and a return on equity of 13.47%. On average, analysts anticipate that Peoples Bancorp will post 3.39 EPS for the current fiscal year.
Insider Transactions at Peoples Bancorp
In other news, Director Carol A. Schneeberger sold 1,000 shares of Peoples Bancorp stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $32.27, for a total value of $32,270.00. Following the completion of the sale, the director now directly owns 31,213 shares in the company, valued at $1,007,243.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.36% of the company’s stock.
Institutional Trading of Peoples Bancorp
Several large investors have recently added to or reduced their stakes in PEBO. BlackRock Inc. grew its position in Peoples Bancorp by 18.3% during the second quarter. BlackRock Inc. now owns 2,691,943 shares of the bank’s stock valued at $71,471,000 after buying an additional 416,748 shares during the period. Alliancebernstein L.P. grew its position in Peoples Bancorp by 56.9% during the second quarter. Alliancebernstein L.P. now owns 1,031,164 shares of the bank’s stock valued at $27,377,000 after buying an additional 374,144 shares during the period. Brown Advisory Inc. grew its position in Peoples Bancorp by 160.6% during the fourth quarter. Brown Advisory Inc. now owns 552,649 shares of the bank’s stock valued at $18,657,000 after buying an additional 340,566 shares during the period. Franklin Resources Inc. grew its position in Peoples Bancorp by 13.3% during the fourth quarter. Franklin Resources Inc. now owns 1,815,196 shares of the bank’s stock valued at $61,281,000 after buying an additional 213,264 shares during the period. Finally, Banc Funds Co. LLC bought a new stake in Peoples Bancorp during the second quarter valued at approximately $5,287,000. 53.80% 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 retail 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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