Peoples Bancorp (PEBO) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a buy rating in a research note issued to investors on Thursday. They currently have $37.00 price target on the bank’s stock.
According to Zacks, “Peoples Bancorp Inc. is a bank holding company. “
PEBO has been the subject of several other reports. Boenning Scattergood restated a hold rating on shares of Peoples Bancorp in a research report on Wednesday, October 25th. Keefe, Bruyette & Woods restated a hold rating and set a $34.00 price target on shares of Peoples Bancorp in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered shares of Peoples Bancorp from a hold rating to a sell rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $34.67.
Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.09. Peoples Bancorp had a net margin of 21.10% and a return on equity of 7.99%. The business had revenue of $41.83 million during the quarter, compared to analyst estimates of $41.96 million. equities analysts predict that Peoples Bancorp will post 2.1 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of Peoples Bancorp during the third quarter worth about $103,000. Citigroup Inc. boosted its holdings in shares of Peoples Bancorp by 361.7% during the second quarter. Citigroup Inc. now owns 6,694 shares of the bank’s stock worth $215,000 after purchasing an additional 5,244 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of Peoples Bancorp during the third quarter worth about $252,000. Virginia Retirement Systems ET AL purchased a new stake in shares of Peoples Bancorp during the third quarter worth about $272,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Peoples Bancorp by 36.5% during the second quarter. Goldman Sachs Group Inc. now owns 9,344 shares of the bank’s stock worth $300,000 after purchasing an additional 2,499 shares during the period. Institutional investors and hedge funds own 63.50% of the company’s stock.
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About Peoples Bancorp
Peoples Bancorp Inc is a financial holding company. The Company operates principally through its subsidiary, Peoples Bank. Peoples Bank’s operating subsidiaries include Peoples Insurance Agency, LLC (Peoples Insurance) and two asset management companies, PBNA, LLC. and Peoples Tax Credit Equity, LLC.
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