Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for Peoples Bancorp (NASDAQ:PEBO)

Peoples Bancorp (NASDAQ:PEBO)‘s stock had its “market perform” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a report released on Wednesday, Benzinga reports. They currently have a $33.00 price target on the bank’s stock, down from their previous price target of $36.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 9.27% from the stock’s current price.

Other equities analysts have also issued research reports about the company. StockNews.com lowered Peoples Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Piper Sandler started coverage on shares of Peoples Bancorp in a research note on Friday, February 23rd. They set an “overweight” rating and a $34.00 price objective on the stock. Finally, Hovde Group initiated coverage on shares of Peoples Bancorp in a report on Monday, April 1st. They issued a “market perform” rating and a $31.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.40.

Peoples Bancorp Stock Performance

Peoples Bancorp stock opened at $30.20 on Wednesday. Peoples Bancorp has a fifty-two week low of $23.05 and a fifty-two week high of $34.85. The stock’s 50 day simple moving average is $28.29 and its two-hundred day simple moving average is $29.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 9.04 and a beta of 0.76.

Peoples Bancorp (NASDAQ:PEBO) last released its earnings results on Tuesday, January 23rd. The bank reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. The company had revenue of $112.92 million during the quarter, compared to analysts’ expectations of $115.00 million. Peoples Bancorp had a return on equity of 12.93% and a net margin of 20.17%. As a group, analysts expect that Peoples Bancorp will post 3.41 earnings per share for the current fiscal year.

Institutional Trading of Peoples Bancorp

Institutional investors have recently bought and sold shares of the company. AJOVista LLC bought a new position in shares of Peoples Bancorp in the fourth quarter worth approximately $36,000. Allspring Global Investments Holdings LLC lifted its position in Peoples Bancorp by 46.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,078 shares of the bank’s stock valued at $53,000 after acquiring an additional 663 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Peoples Bancorp during the 1st quarter valued at $118,000. Bfsg LLC bought a new stake in shares of Peoples Bancorp in the 4th quarter worth $174,000. Finally, EMC Capital Management increased its holdings in shares of Peoples Bancorp by 214.9% in the 3rd quarter. EMC Capital Management now owns 7,292 shares of the bank’s stock worth $185,000 after purchasing an additional 4,976 shares in the last quarter. 60.68% of the stock is owned by hedge funds and other 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.