Stephens Reiterates Equal Weight Rating for Peoples Bancorp (NASDAQ:PEBO)

Peoples Bancorp (NASDAQ:PEBO)‘s stock had its “equal weight” rating reiterated by stock analysts at Stephens in a note issued to investors on Wednesday, Benzinga reports. They presently have a $34.00 price target on the bank’s stock. Stephens’ price objective would indicate a potential upside of 12.58% from the company’s current price.

Other 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 note on Friday, April 19th. Hovde Group assumed coverage on Peoples Bancorp in a research note on Monday, April 1st. They issued a “market perform” rating and a $31.00 price target for the company. Piper Sandler assumed coverage on Peoples Bancorp in a research report on Friday, February 23rd. They set an “overweight” rating and a $34.00 price objective for the company. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $33.00 price objective (down previously from $36.00) on shares of Peoples Bancorp in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.40.

Peoples Bancorp Stock Up 0.5 %

Shares of Peoples Bancorp stock opened at $30.20 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83. Peoples Bancorp has a 52-week low of $23.05 and a 52-week high of $34.85. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 9.04 and a beta of 0.76. The company’s 50 day moving average price is $28.29 and its 200-day moving average price is $29.33.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.10. Peoples Bancorp had a return on equity of 12.93% and a net margin of 20.17%. The company had revenue of $112.92 million during the quarter, compared to analyst estimates of $115.00 million. Equities research analysts forecast that Peoples Bancorp will post 3.39 EPS for the current year.

Hedge Funds Weigh In On Peoples Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AJOVista LLC purchased a new position in shares of Peoples Bancorp in the 4th quarter worth about $36,000. Allspring Global Investments Holdings LLC raised its position in shares of Peoples Bancorp by 46.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,078 shares of the bank’s stock worth $53,000 after purchasing an additional 663 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Peoples Bancorp in the 1st quarter worth about $118,000. Bfsg LLC purchased a new position in shares of Peoples Bancorp in the 4th quarter worth about $174,000. Finally, EMC Capital Management raised its position 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 during the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

About Peoples Bancorp

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.