Peoples Bancorp Inc. (NASDAQ:PEBO – Get Free Report) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.00.
A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp in a report on Friday, May 29th. Keefe, Bruyette & Woods upped their price target on Peoples Bancorp from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. DA Davidson increased their price objective on Peoples Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler set a $46.00 price objective on Peoples Bancorp in a research report on Wednesday, July 22nd.
Check Out Our Latest Report on Peoples Bancorp
Peoples Bancorp Stock Up 0.2%
Peoples Bancorp (NASDAQ:PEBO – Get Free Report) last released its earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.11. The firm had revenue of $121.95 million during the quarter, compared to analyst estimates of $120.05 million. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. As a group, research analysts predict that Peoples Bancorp will post 3.56 EPS for the current year.
Peoples Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, August 3rd. Peoples Bancorp’s dividend payout ratio is presently 50.76%.
Insiders Place Their Bets
In related news, Director Dwight Eric Smith purchased 1,000 shares of the firm’s stock in a transaction on Thursday, July 23rd. The shares were bought at an average cost of $39.81 per share, for a total transaction of $39,810.00. Following the transaction, the director directly owned 10,256 shares of the company’s stock, valued at approximately $408,291.36. This trade represents a 10.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Matthew Edgell sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total transaction of $123,810.00. Following the completion of the sale, the insider owned 20,183 shares in the company, valued at $832,952.41. This represents a 12.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.31% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Peoples Bancorp
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Peoples Bancorp in the 2nd quarter valued at approximately $128,113,000. Raymond James Financial Inc. grew its holdings in shares of Peoples Bancorp by 422.4% during the 2nd quarter. Raymond James Financial Inc. now owns 349,948 shares of the bank’s stock worth $10,687,000 after purchasing an additional 282,960 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Peoples Bancorp during the 2nd quarter worth approximately $10,181,000. Align Financial LLC acquired a new stake in shares of Peoples Bancorp during the 4th quarter worth approximately $5,318,000. Finally, Empowered Funds LLC bought a new stake in shares of Peoples Bancorp during the second quarter valued at approximately $6,622,000. 60.68% of the stock is owned by institutional investors and hedge funds.
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.
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