Peoples Bancorp (NASDAQ:PEBO) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Peoples Bancorp Inc. (NASDAQ:PEBO – Get Free Report)’s share price crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $38.28 and traded as low as $38.09. Peoples Bancorp shares last traded at $38.27, with a volume of 308,944 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PEBO. Zacks Research raised shares of Peoples Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. DA Davidson cut their price objective on shares of Peoples Bancorp from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Peoples Bancorp in a research note on Monday, October 5th. Finally, Piper Sandler upped their target price on shares of Peoples Bancorp from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Get Our Latest Report on PEBO

Peoples Bancorp Stock Performance

The company has a market cap of $1.38 billion, a P/E ratio of 11.29 and a beta of 0.63. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $38.28 and a 200-day moving average price of $36.37.

Peoples Bancorp (NASDAQ:PEBO – Get Free Report) last announced its earnings results on Tuesday, October 20th. The bank reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The firm had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $123.40 million. Peoples Bancorp had a return on equity of 11.08% and a net margin of 19.76%. Equities analysts expect that Peoples Bancorp Inc. will post 3.74 EPS for the current fiscal year.

Peoples Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.4%. The ex-dividend date is Monday, November 2nd. Peoples Bancorp’s payout ratio is presently 49.56%.

Insider Buying and Selling

In related news, EVP Hugh J. Donlon sold 2,650 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $38.12, for a total transaction of $101,018.00. Following the completion of the sale, the executive vice president directly owned 18,365 shares in the company, valued at approximately $700,073.80. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Augenstein sold 2,000 shares of Peoples Bancorp stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $37.88, for a total transaction of $75,760.00. Following the sale, the executive vice president directly owned 24,885 shares of the company’s stock, valued at $942,643.80. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Peoples Bancorp during the 2nd quarter valued at about $33,000. Allworth Financial LP acquired a new position in Peoples Bancorp in the second quarter worth approximately $50,000. Deutsche Bank AG acquired a new position in Peoples Bancorp in the second quarter worth approximately $190,000. PNC Financial Services Group Inc. increased its holdings in Peoples Bancorp by 39.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,558 shares of the bank’s stock worth $150,000 after buying an additional 1,301 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Peoples Bancorp in the second quarter worth approximately $201,000. 60.68% of the stock is owned by institutional investors and hedge funds.

About Peoples Bancorp

(Get Free Report)

Peoples Bancorp Inc. is a financial holding company headquartered in Marietta, Ohio. Its principal subsidiary, Peoples Bank, provides commercial and consumer banking services to individuals, businesses and local organizations. The company offers deposit accounts, loans, payment services and other banking products, along with services such as wealth management, insurance and equipment financing. Its branches and service areas extend across Ohio, West Virginia, Kentucky and Virginia. Peoples traces its history to 1902, when it was established in Marietta.

Further Reading

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