Peoples Bancorp (NASDAQ:PEBO – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday, Zacks reports.
Several other research analysts have also recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a report on Wednesday, August 26th. Piper Sandler set a $46.00 price target on shares of Peoples Bancorp in a report on Wednesday, July 22nd. DA Davidson cut their price target on Peoples Bancorp from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Keefe, Bruyette & Woods lifted their price objective on Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.
Check Out Our Latest Stock Report on PEBO
Peoples Bancorp Price Performance
Peoples Bancorp (NASDAQ:PEBO – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.11. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. The company had revenue of $121.95 million during the quarter, compared to analyst estimates of $120.05 million. On average, sell-side analysts expect that Peoples Bancorp will post 3.59 earnings per share for the current year.
Insider Buying and Selling at Peoples Bancorp
In related news, insider Matthew Edgell sold 3,000 shares of Peoples Bancorp stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $41.27, for a total value of $123,810.00. Following the completion of the transaction, the insider owned 20,183 shares in the company, valued at $832,952.41. The trade was a 12.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight Smith purchased 1,000 shares of the stock in a transaction on Thursday, July 23rd. The shares were acquired at an average price 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 $408,291.36. This represents a 10.80% increase in their position. The SEC filing for this purchase provides additional information. 3.31% of the stock is currently owned by company insiders.
Institutional Trading of Peoples Bancorp
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP increased its stake in shares of Peoples Bancorp by 13.7% during the second quarter. Engineers Gate Manager LP now owns 8,504 shares of the bank’s stock worth $327,000 after purchasing an additional 1,023 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Peoples Bancorp during the 2nd quarter worth about $207,000. Allworth Financial LP lifted its stake in Peoples Bancorp by 87.0% in the 2nd quarter. Allworth Financial LP now owns 1,307 shares of the bank’s stock valued at $50,000 after buying an additional 608 shares in the last quarter. Waverly Advisors LLC lifted its stake in Peoples Bancorp by 3.5% in the 2nd quarter. Waverly Advisors LLC now owns 14,754 shares of the bank’s stock valued at $567,000 after buying an additional 505 shares in the last quarter. Finally, Corient Private Wealth LP acquired a new stake in Peoples Bancorp in the 2nd quarter worth about $324,000. 60.68% of the stock is currently owned by hedge funds and other institutional investors.
Peoples Bancorp Company Profile
Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.
Peoples Bank offers consumer and commercial deposit accounts, residential and commercial real estate loans, consumer lending, mortgage services, treasury management and other business financing solutions. The company also provides wealth management, trust, investment and insurance services through affiliated or related operations.
Founded in 1902, Peoples Bancorp serves communities primarily in Ohio, West Virginia, Kentucky and Virginia through a network of banking offices and digital banking channels.
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