Peoples Bancorp (NASDAQ:PEBO) Reaches New 12-Month High – Here’s Why

Peoples Bancorp Inc. (NASDAQ:PEBO)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $34.33 and last traded at $33.8150, with a volume of 7515 shares traded. The stock had previously closed at $33.88.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PEBO shares. Wall Street Zen upgraded shares of Peoples Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. DA Davidson set a $35.00 target price on shares of Peoples Bancorp in a research report on Wednesday, January 21st. Piper Sandler decreased their price target on Peoples Bancorp from $36.00 to $33.50 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Finally, Weiss Ratings raised shares of Peoples Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.63.

Peoples Bancorp Trading Down 0.2%

The stock has a fifty day moving average of $31.35 and a 200 day moving average of $30.21. The company has a market capitalization of $1.21 billion, a P/E ratio of 11.31 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings data on Tuesday, January 20th. The bank reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The company had revenue of $119.57 million during the quarter, compared to the consensus estimate of $117.97 million. Peoples Bancorp had a net margin of 17.27% and a return on equity of 9.61%. As a group, equities research analysts anticipate that Peoples Bancorp Inc. will post 3.28 EPS for the current fiscal year.

Peoples Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, February 2nd. Peoples Bancorp’s payout ratio is presently 54.85%.

Insider Activity

In other Peoples Bancorp news, Director Carol A. Schneeberger sold 1,000 shares of Peoples Bancorp stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $33.92, for a total value of $33,920.00. Following the completion of the sale, the director directly owned 21,204 shares of the company’s stock, valued at approximately $719,239.68. The trade was a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 857 shares of company stock valued at $26,991 over the last quarter. 3.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peoples Bancorp

Large investors have recently made changes to their positions in the company. Creative Planning lifted its position in shares of Peoples Bancorp by 35.5% in the 2nd quarter. Creative Planning now owns 44,061 shares of the bank’s stock worth $1,346,000 after acquiring an additional 11,533 shares during the period. CSM Advisors LLC bought a new stake in shares of Peoples Bancorp during the second quarter worth $4,887,000. Bank of New York Mellon Corp increased its stake in Peoples Bancorp by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 260,719 shares of the bank’s stock valued at $7,962,000 after buying an additional 6,654 shares during the last quarter. American Century Companies Inc. lifted its stake in Peoples Bancorp by 7.1% in the 2nd quarter. American Century Companies Inc. now owns 915,692 shares of the bank’s stock valued at $27,965,000 after purchasing an additional 60,921 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Peoples Bancorp by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 926,866 shares of the bank’s stock valued at $28,309,000 after buying an additional 26,786 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.

Peoples Bancorp Company Profile

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.