DA Davidson Cuts Peoples Bancorp (NASDAQ:PEBO) Price Target to $42.00

Peoples Bancorp (NASDAQ:PEBO) had its price objective reduced by DA Davidson from $44.00 to $42.00 in a research report sent to investors on Thursday, Marketbeat.com reports. DA Davidson currently has a buy rating on the bank’s stock.

Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods upped their target price on Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Bancorp in a report on Wednesday, August 26th. Finally, Piper Sandler set a $46.00 price target on Peoples Bancorp in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Peoples Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $41.50.

Peoples Bancorp Stock Performance

Shares of PEBO opened at $37.48 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.35 billion, a P/E ratio of 11.32 and a beta of 0.62. The firm’s fifty day simple moving average is $39.99 and its two-hundred day simple moving average is $36.93. Peoples Bancorp has a 12 month low of $27.49 and a 12 month high of $42.29.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly 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. Peoples Bancorp had a return on equity of 10.71% and a net margin of 19.17%.The firm had revenue of $121.95 million during the quarter, compared to the consensus estimate of $120.05 million. As a group, analysts predict that Peoples Bancorp will post 3.59 EPS for the current year.

Peoples Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.68 annualized dividend and a yield of 4.5%. Peoples Bancorp’s dividend payout ratio (DPR) is presently 50.76%.

Insider Buying and Selling at Peoples Bancorp

In other Peoples Bancorp news, insider Matthew Edgell sold 3,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were 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 approximately $832,952.41. The trade was a 12.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dwight Smith acquired 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 acquisition, the director owned 10,256 shares of the company’s stock, valued at approximately $408,291.36. The trade was a 10.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. grew its position in shares of Peoples Bancorp by 1.3% during the 1st quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank’s stock valued at $801,000 after acquiring an additional 320 shares during the period. Waverly Advisors LLC increased its stake in shares of Peoples Bancorp by 3.5% during the 2nd quarter. Waverly Advisors LLC now owns 14,754 shares of the bank’s stock worth $567,000 after purchasing an additional 505 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Peoples Bancorp by 10.0% in the 1st quarter. Royal Bank of Canada now owns 6,586 shares of the bank’s stock worth $216,000 after purchasing an additional 600 shares during the period. Allworth Financial LP raised its holdings in shares of Peoples Bancorp by 87.0% in the 2nd quarter. Allworth Financial LP now owns 1,307 shares of the bank’s stock worth $50,000 after purchasing an additional 608 shares during the period. Finally, Plan A Wealth LLC lifted its stake in Peoples Bancorp by 8.3% in the second quarter. Plan A Wealth LLC now owns 10,389 shares of the bank’s stock valued at $399,000 after purchasing an additional 797 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.

About Peoples Bancorp

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.