Peoples Bancorp (NASDAQ:PEBO) Sets New 52-Week High – Time to Buy?

Shares of Peoples Bancorp Inc. (NASDAQ:PEBO) hit a new 52-week high during trading on Monday . The company traded as high as $38.84 and last traded at $38.2380, with a volume of 1406535 shares changing hands. The stock had previously closed at $38.53.

Analyst Ratings Changes

Several brokerages have recently weighed in on PEBO. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Bancorp in a research note on Friday, May 29th. DA Davidson upped their price objective on Peoples Bancorp from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Hovde Group raised their target price on Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, April 22nd. Finally, Piper Sandler lifted their target price on Peoples Bancorp from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Peoples Bancorp Stock Down 1.5%

The company’s fifty day moving average is $34.95 and its 200-day moving average is $33.15. The company has a market capitalization of $1.36 billion, a PE ratio of 12.17 and a beta of 0.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.84.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results on Tuesday, April 21st. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.02. Peoples Bancorp had a net margin of 17.92% and a return on equity of 9.75%. The business had revenue of $119.33 million for the quarter, compared to the consensus estimate of $118.72 million. As a group, analysts predict that Peoples Bancorp Inc. will post 3.4 EPS for the current fiscal year.

Peoples Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, May 4th. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.41. Peoples Bancorp’s payout ratio is 53.85%.

Insider Buying and Selling at Peoples Bancorp

In other news, Director Dwight Eric Smith bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average price of $34.51 per share, with a total value of $34,510.00. Following the acquisition, the director owned 9,256 shares of the company’s stock, valued at approximately $319,424.56. This represents a 12.11% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.31% of the company’s stock.

Institutional Trading of Peoples Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC raised its position in shares of Peoples Bancorp by 28.5% during the first quarter. Segall Bryant & Hamill LLC now owns 259,843 shares of the bank’s stock valued at $8,541,000 after buying an additional 57,650 shares during the last quarter. Amundi bought a new stake in shares of Peoples Bancorp in the 1st quarter valued at approximately $312,000. Royal Bank of Canada boosted its stake in Peoples Bancorp by 10.0% during the first quarter. Royal Bank of Canada now owns 6,586 shares of the bank’s stock worth $216,000 after buying an additional 600 shares during the period. Empowered Funds LLC raised its position in Peoples Bancorp by 6.1% in the 1st quarter. Empowered Funds LLC now owns 162,004 shares of the bank’s stock worth $5,325,000 after purchasing an additional 9,258 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of Peoples Bancorp by 169.7% during the 1st quarter. Quantinno Capital Management LP now owns 44,883 shares of the bank’s stock worth $1,475,000 after acquiring an additional 28,243 shares during the last quarter. Institutional investors 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.