Brokers Set Expectations for Peoples Bancorp Inc.’s Q2 2024 Earnings (NASDAQ:PEBO)

Peoples Bancorp Inc. (NASDAQ:PEBO) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Peoples Bancorp in a research report issued on Thursday, April 25th. DA Davidson analyst M. Navas anticipates that the bank will earn $0.83 per share for the quarter. The consensus estimate for Peoples Bancorp’s current full-year earnings is $3.41 per share. DA Davidson also issued estimates for Peoples Bancorp’s FY2024 earnings at $3.50 EPS.

Peoples Bancorp (NASDAQ:PEBO) last announced its earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. The firm 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%.

A number of other analysts have also recently issued reports on the company. Hovde Group assumed coverage on Peoples Bancorp in a research report on Monday, April 1st. They issued a “market perform” rating and a $31.00 target price for the company. Piper Sandler assumed coverage on Peoples Bancorp in a research report on Friday, February 23rd. They issued an “overweight” rating and a $34.00 target price for the company. StockNews.com raised Peoples Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Stephens reissued an “equal weight” rating and issued a $34.00 target price on shares of Peoples Bancorp in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $33.00 target price (down from $36.00) on shares of Peoples Bancorp in a research report on Wednesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Peoples Bancorp has an average rating of “Hold” and a consensus target price of $33.40.

Peoples Bancorp Stock Down 1.5 %

Shares of NASDAQ PEBO opened at $29.76 on Friday. The stock has a market cap of $1.06 billion, a PE ratio of 8.91 and a beta of 0.76. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. Peoples Bancorp has a 52-week low of $23.05 and a 52-week high of $34.85. The business has a 50-day moving average price of $28.33 and a 200 day moving average price of $29.36.

Institutional Trading of Peoples Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in Peoples Bancorp by 3.7% during the 4th quarter. Arizona State Retirement System now owns 9,393 shares of the bank’s stock valued at $317,000 after acquiring an additional 333 shares during the last quarter. Federated Hermes Inc. raised its stake in Peoples Bancorp by 1.6% during the 3rd quarter. Federated Hermes Inc. now owns 24,023 shares of the bank’s stock valued at $610,000 after acquiring an additional 382 shares during the last quarter. Shoker Investment Counsel Inc. raised its stake in Peoples Bancorp by 1.3% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 29,724 shares of the bank’s stock valued at $754,000 after acquiring an additional 385 shares during the last quarter. D.A. Davidson & CO. raised its stake in Peoples Bancorp by 3.7% during the 4th quarter. D.A. Davidson & CO. now owns 11,988 shares of the bank’s stock valued at $405,000 after acquiring an additional 433 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Peoples Bancorp by 5.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,998 shares of the bank’s stock worth $305,000 after buying an additional 590 shares in the last quarter. 60.68% of the stock is owned by hedge funds and other institutional investors.

Peoples Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 3rd. This is an increase from Peoples Bancorp’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 5.38%. Peoples Bancorp’s dividend payout ratio is currently 46.71%.

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.