Zacks Investment Research Downgrades Peoples Bancorp (PEBO) to Hold

Peoples Bancorp (NASDAQ:PEBO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Peoples Bancorp Inc. is a bank holding company. “

Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Peoples Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. BidaskClub upgraded shares of Peoples Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Peoples Bancorp in a report on Tuesday, October 23rd. Six research analysts have rated the stock with a hold rating, Peoples Bancorp presently has a consensus rating of “Hold” and an average target price of $38.00.

NASDAQ PEBO opened at $31.28 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. Peoples Bancorp has a 52 week low of $28.35 and a 52 week high of $39.58. The company has a market cap of $614.59 million, a price-to-earnings ratio of 13.72, a PEG ratio of 1.36 and a beta of 0.77.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Peoples Bancorp had a net margin of 20.72% and a return on equity of 9.64%. The company had revenue of $47.68 million during the quarter, compared to analysts’ expectations of $47.46 million. As a group, research analysts expect that Peoples Bancorp will post 2.63 EPS for the current fiscal year.

In other news, Director George W. Broughton sold 4,366 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $34.07, for a total value of $148,749.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.03% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC boosted its stake in Peoples Bancorp by 27.1% during the 2nd quarter. MetLife Investment Advisors LLC now owns 8,443 shares of the bank’s stock worth $319,000 after purchasing an additional 1,802 shares during the period. US Bancorp DE boosted its stake in Peoples Bancorp by 5,073.7% during the 2nd quarter. US Bancorp DE now owns 8,847 shares of the bank’s stock worth $335,000 after purchasing an additional 8,676 shares during the period. Paloma Partners Management Co acquired a new stake in Peoples Bancorp during the 3rd quarter worth $354,000. Rhumbline Advisers boosted its stake in Peoples Bancorp by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 17,467 shares of the bank’s stock worth $660,000 after purchasing an additional 1,490 shares during the period. Finally, Bailard Inc. boosted its stake in Peoples Bancorp by 11.2% during the 3rd quarter. Bailard Inc. now owns 19,800 shares of the bank’s stock worth $694,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 61.48% of the company’s stock.

About Peoples Bancorp

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and retail banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and provides commercial real estate construction loans, other commercial real estate loans, commercial and industrial loans, residential real estate loans, home equity lines of credit, and indirect and other consumer loans.

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