Peoples Bancorp (NASDAQ:PEBO – Get Free Report) released its quarterly earnings results on Tuesday. The bank reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.12, FiscalAI reports. Peoples Bancorp had a net margin of 17.92% and a return on equity of 9.75%. The company had revenue of $121.95 million for the quarter, compared to analyst estimates of $120.05 million.
Peoples Bancorp Stock Up 1.3%
Shares of NASDAQ PEBO opened at $39.91 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $36.35 and a 200-day moving average of $34.01. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 12.67 and a beta of 0.62. Peoples Bancorp has a 12 month low of $27.49 and a 12 month high of $40.19.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on PEBO shares. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a report on Friday, May 29th. Hovde Group raised their price target on shares of Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 22nd. DA Davidson boosted their price objective on Peoples Bancorp from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler upped their price objective on shares of Peoples Bancorp from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.
Insider Transactions at Peoples Bancorp
In related news, Director Dwight Eric Smith purchased 1,000 shares of the business’s stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $34.51 per share, with a total value of $34,510.00. Following the purchase, the director directly owned 9,256 shares in the company, valued at approximately $319,424.56. This represents a 12.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.31% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Peoples Bancorp
Several hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new stake in Peoples Bancorp in the 3rd quarter worth approximately $30,000. Quarry LP purchased a new stake in shares of Peoples Bancorp in the 3rd quarter valued at $35,000. Strs Ohio bought a new position in shares of Peoples Bancorp in the first quarter worth approximately $62,000. Russell Investments Group Ltd. grew its stake in shares of Peoples Bancorp by 654.3% in the third quarter. Russell Investments Group Ltd. now owns 3,100 shares of the bank’s stock worth $93,000 after purchasing an additional 2,689 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Peoples Bancorp by 1,191.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,718 shares of the bank’s stock worth $114,000 after buying an additional 3,430 shares during the period. Institutional investors own 60.68% of the company’s stock.
About Peoples Bancorp
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.
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