Peoples Bancorp (NASDAQ:PEBO) Shares Cross Above 200 Day Moving Average – What’s Next?

Peoples Bancorp Inc. (NASDAQ:PEBO)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.98 and traded as high as $31.10. Peoples Bancorp shares last traded at $30.75, with a volume of 177,109 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PEBO shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Peoples Bancorp in a research note on Monday. Zacks Research upgraded Peoples Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, September 22nd. DA Davidson started coverage on Peoples Bancorp in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $33.00 price target on the stock. 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, Wall Street Zen raised shares of Peoples Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.13.

Peoples Bancorp Price Performance

The stock has a market cap of $1.10 billion, a P/E ratio of 10.75 and a beta of 0.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The business’s fifty day moving average price is $29.65 and its 200 day moving average price is $29.98.

Peoples Bancorp (NASDAQ:PEBO) last issued its earnings results on Tuesday, October 21st. The bank reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The firm had revenue of $118.51 million for the quarter, compared to analyst estimates of $116.88 million. Peoples Bancorp had a net margin of 16.57% and a return on equity of 9.35%. Sell-side analysts forecast that Peoples Bancorp Inc. will post 3.28 EPS for the current fiscal year.

Peoples Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Tuesday, November 4th were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, November 4th. This represents a $1.64 dividend on an annualized basis and a yield of 5.3%. Peoples Bancorp’s payout ratio is currently 57.34%.

Insider Buying and Selling at Peoples Bancorp

In other news, Director W Glenn Hogan bought 1,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of $28.49 per share, for a total transaction of $28,490.00. Following the completion of the transaction, the director owned 535,239 shares of the company’s stock, valued at $15,248,959.11. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kevin R. Reeves acquired 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average price of $29.11 per share, with a total value of $36,387.50. Following the acquisition, the director owned 13,055 shares in the company, valued at $380,031.05. The trade was a 10.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 4,110 shares of company stock worth $118,832. 3.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its holdings in Peoples Bancorp by 132.3% during the 2nd quarter. Parallel Advisors LLC now owns 864 shares of the bank’s stock worth $26,000 after buying an additional 492 shares during the period. Larson Financial Group LLC bought a new position in shares of Peoples Bancorp during the third quarter worth about $30,000. Quarry LP acquired a new position in shares of Peoples Bancorp in the third quarter worth approximately $35,000. State of Alaska Department of Revenue bought a new stake in Peoples Bancorp in the third quarter valued at approximately $42,000. Finally, Strs Ohio bought a new stake in Peoples Bancorp in the first quarter valued at approximately $62,000. 60.68% of the stock is owned by institutional investors.

Peoples Bancorp Company Profile

Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.

On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.