Peoples Bancorp (NASDAQ:PEBO) Sets New 52-Week High – Should You Buy?

Peoples Bancorp Inc. (NASDAQ:PEBO)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $40.85 and last traded at $40.66, with a volume of 349041 shares trading hands. The stock had previously closed at $40.31.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PEBO. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Bancorp in a research note on Friday, May 29th. Hovde Group raised their price target on shares of Peoples Bancorp from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, April 22nd. DA Davidson lifted their price objective on shares of Peoples Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Piper Sandler set a $46.00 price objective on shares of Peoples Bancorp in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Peoples Bancorp from $38.00 to $42.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Peoples Bancorp Stock Performance

The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 12.28 and a beta of 0.62. The firm has a fifty day simple moving average of $37.02 and a 200 day simple moving average of $34.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.84 and a quick ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO) last announced its earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.11. Peoples Bancorp had a return on equity of 10.79% and a net margin of 19.17%.The business had revenue of $121.95 million during the quarter, compared to the consensus estimate of $120.05 million. On average, analysts anticipate that Peoples Bancorp Inc. will post 3.56 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, August 3rd. Peoples Bancorp’s payout ratio is presently 50.76%.

Hedge Funds Weigh In On Peoples Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. increased its stake in shares of Peoples Bancorp by 1.3% during the first quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank’s stock worth $801,000 after purchasing an additional 320 shares in the last quarter. Cetera Investment Advisers lifted its stake in Peoples Bancorp by 1.6% in the 4th quarter. Cetera Investment Advisers now owns 24,348 shares of the bank’s stock valued at $731,000 after buying an additional 385 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Peoples Bancorp by 2.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank’s stock valued at $508,000 after buying an additional 400 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in Peoples Bancorp by 1.2% in the 4th quarter. Pathway Financial Advisers LLC now owns 35,520 shares of the bank’s stock valued at $1,067,000 after buying an additional 414 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Peoples Bancorp by 2.8% in the 4th quarter. Inspire Investing LLC now owns 15,582 shares of the bank’s stock worth $468,000 after buying an additional 420 shares during the last quarter. 60.68% of the stock is owned by hedge funds and other 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.