Peoples Bancorp (NASDAQ:PEBO) Posts Earnings Results, Beats Estimates By $0.02 EPS

Peoples Bancorp (NASDAQ:PEBO) posted its earnings results on Tuesday. The bank reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02, Zacks reports. Peoples Bancorp had a return on equity of 9.51% and a net margin of 17.27%.

Peoples Bancorp Stock Performance

PEBO opened at $34.74 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.83. The business has a fifty day simple moving average of $32.93 and a 200 day simple moving average of $31.26. Peoples Bancorp has a 1 year low of $26.61 and a 1 year high of $35.10. The company has a market capitalization of $1.25 billion, a PE ratio of 11.62 and a beta of 0.64.

Analyst Upgrades and Downgrades

PEBO has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Peoples Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. DA Davidson set a $35.00 price objective on shares of Peoples Bancorp in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.63.

Insider Buying and Selling at Peoples Bancorp

In related news, Director Carol A. Schneeberger sold 1,895 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $31.37, for a total value of $59,446.15. Following the transaction, the director directly owned 19,309 shares in the company, valued at approximately $605,723.33. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Ryan Kirkham sold 986 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $32.47, for a total transaction of $32,015.42. Following the transaction, the executive vice president directly owned 16,289 shares in the company, valued at approximately $528,903.83. This represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,881 shares of company stock worth $156,792 in the last quarter. Company insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PEBO. Raymond James Financial Inc. increased its holdings in shares of Peoples Bancorp by 422.4% during the second 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 during the period. Align Financial LLC bought a new stake in shares of Peoples Bancorp during the 4th quarter valued at $5,318,000. Invesco Ltd. raised its stake in Peoples Bancorp by 248.8% in the fourth quarter. Invesco Ltd. now owns 211,869 shares of the bank’s stock valued at $6,362,000 after purchasing an additional 151,125 shares in the last quarter. Millennium Management LLC increased its holdings in Peoples Bancorp by 46.9% in the 3rd quarter. Millennium Management LLC now owns 400,064 shares of the bank’s stock valued at $11,998,000 after buying an additional 127,778 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Peoples Bancorp by 83.5% during the 2nd quarter. AQR Capital Management LLC now owns 186,501 shares of the bank’s stock worth $5,696,000 after acquiring an additional 84,848 shares in the last quarter. Institutional investors and hedge funds 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.