Peoples Bancorp Inc. (NASDAQ:PEBO) Receives $33.13 Consensus Target Price from Analysts

Peoples Bancorp Inc. (NASDAQ:PEBO) has been assigned an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $33.1250.

Several brokerages have issued reports on PEBO. Zacks Research upgraded shares of Peoples Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, September 22nd. DA Davidson initiated coverage on shares of Peoples Bancorp in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $33.00 target price for the company. Wall Street Zen raised Peoples Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Piper Sandler dropped their price target on Peoples Bancorp from $36.00 to $33.50 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Peoples Bancorp in a research report on Friday, October 31st.

Insiders Place Their Bets

In other Peoples Bancorp news, Director Carol A. Schneeberger sold 1,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $30.22, for a total value of $30,220.00. Following the completion of the sale, the director directly owned 23,767 shares of the company’s stock, valued at $718,238.74. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin R. Reeves purchased 1,250 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were acquired at an average price of $29.11 per share, with a total value of $36,387.50. Following the completion of the transaction, the director owned 13,055 shares of the company’s stock, valued at approximately $380,031.05. This trade represents a 10.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 3,910 shares of company stock valued at $113,120. 3.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in Peoples Bancorp by 132.3% during the 2nd quarter. Parallel Advisors LLC now owns 864 shares of the bank’s stock valued at $26,000 after acquiring an additional 492 shares during the period. State of Alaska Department of Revenue bought a new stake in Peoples Bancorp in the third quarter valued at approximately $42,000. Strs Ohio bought a new stake in Peoples Bancorp in the first quarter valued at approximately $62,000. Accredited Wealth Management LLC boosted its stake in shares of Peoples Bancorp by 524.0% during the third quarter. Accredited Wealth Management LLC now owns 2,184 shares of the bank’s stock valued at $65,000 after purchasing an additional 1,834 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Peoples Bancorp by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 2,931 shares of the bank’s stock worth $90,000 after purchasing an additional 709 shares during the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Price Performance

Shares of Peoples Bancorp stock opened at $29.06 on Thursday. Peoples Bancorp has a 12 month low of $26.21 and a 12 month high of $37.07. The business has a 50 day simple moving average of $29.58 and a two-hundred day simple moving average of $29.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $1.04 billion, a P/E ratio of 10.16 and a beta of 0.70.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Tuesday, October 21st. The bank reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. Peoples Bancorp had a return on equity of 9.45% and a net margin of 16.57%.The firm had revenue of $118.51 million for the quarter, compared to analysts’ expectations of $116.88 million. As a group, analysts predict that Peoples Bancorp will post 3.28 EPS for the current fiscal year.

Peoples Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Tuesday, November 4th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Tuesday, November 4th. Peoples Bancorp’s dividend payout ratio (DPR) is presently 57.34%.

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.