DA Davidson Upgrades Peoples Bancorp (NASDAQ:PEBO) to Strong-Buy

Peoples Bancorp (NASDAQ:PEBO) was upgraded by investment analysts at DA Davidson to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on PEBO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Peoples Bancorp in a report on Wednesday, October 8th. Zacks Research raised shares of Peoples Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, September 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Peoples Bancorp from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded shares of Peoples Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.

Peoples Bancorp Stock Up 1.5%

Shares of Peoples Bancorp stock opened at $29.12 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $1.04 billion, a PE ratio of 9.97 and a beta of 0.63. Peoples Bancorp has a 52-week low of $26.21 and a 52-week high of $37.07. The company has a 50-day simple moving average of $30.07 and a two-hundred day simple moving average of $29.73.

Peoples Bancorp (NASDAQ:PEBO) last issued its earnings results on Tuesday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.18). The firm had revenue of $115.02 million during the quarter, compared to analysts’ expectations of $113.20 million. Peoples Bancorp had a return on equity of 9.46% and a net margin of 16.88%. On average, analysts anticipate that Peoples Bancorp will post 3.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Dwight Eric Smith acquired 1,060 shares of Peoples Bancorp stock in a transaction dated Thursday, July 24th. The stock was purchased at an average cost of $30.27 per share, with a total value of $32,086.20. Following the completion of the purchase, the director directly owned 6,999 shares in the company, valued at approximately $211,859.73. This trade represents a 17.85% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $30.22, for a total transaction of $30,220.00. Following the completion of the sale, the director directly owned 23,767 shares of the company’s stock, valued at approximately $718,238.74. This trade represents a 4.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.41% of the company’s stock.

Institutional Trading of Peoples Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. increased its stake in shares of Peoples Bancorp by 1.6% in the first quarter. D.A. Davidson & CO. now owns 24,400 shares of the bank’s stock worth $724,000 after purchasing an additional 391 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Peoples Bancorp by 2.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank’s stock worth $508,000 after purchasing an additional 400 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Peoples Bancorp by 1.5% in the second quarter. Wedge Capital Management L L P NC now owns 27,110 shares of the bank’s stock worth $828,000 after purchasing an additional 410 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in Peoples Bancorp by 3.9% during the second quarter. Wealthcare Advisory Partners LLC now owns 11,034 shares of the bank’s stock valued at $337,000 after acquiring an additional 418 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Peoples Bancorp by 1.9% during the second quarter. Cetera Investment Advisers now owns 22,906 shares of the bank’s stock valued at $700,000 after acquiring an additional 418 shares in the last quarter. 60.68% of the stock is owned by hedge funds and other institutional investors.

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.