Peoples Bancorp (NASDAQ:PEBO) Upgraded to Buy by StockNews.com

Peoples Bancorp (NASDAQ:PEBOGet Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Several other research firms also recently weighed in on PEBO. B. Riley lowered their price target on shares of Peoples Bancorp from $30.00 to $28.00 in a research note on Monday, July 11th. Piper Sandler downgraded shares of Peoples Bancorp from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $31.00 to $30.00 in a research note on Friday, July 8th. DA Davidson boosted their price target on shares of Peoples Bancorp to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Finally, Stephens boosted their price target on shares of Peoples Bancorp to $34.00 in a research note on Tuesday, August 23rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $34.20.

Peoples Bancorp Price Performance

Shares of NASDAQ PEBO traded down $0.33 during mid-day trading on Thursday, reaching $29.53. 84,186 shares of the company were exchanged, compared to its average volume of 93,805. Peoples Bancorp has a 52 week low of $25.63 and a 52 week high of $34.63. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $835.61 million, a PE ratio of 12.15 and a beta of 0.89. The company’s 50 day moving average price is $29.96 and its 200 day moving average price is $29.31.

Peoples Bancorp (NASDAQ:PEBOGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.16. Peoples Bancorp had a net margin of 23.41% and a return on equity of 10.61%. During the same quarter in the prior year, the company posted $0.81 earnings per share. Sell-side analysts forecast that Peoples Bancorp will post 3.42 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Charles W. Sulerzyski sold 1,500 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $31.17, for a total transaction of $46,755.00. Following the transaction, the chief executive officer now owns 70,928 shares in the company, valued at $2,210,825.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Kevin R. Reeves purchased 3,000 shares of Peoples Bancorp stock in a transaction that occurred on Friday, August 5th. The shares were bought at an average price of $29.80 per share, for a total transaction of $89,400.00. Following the completion of the transaction, the director now directly owns 5,708 shares of the company’s stock, valued at $170,098.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles W. Sulerzyski sold 1,500 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $31.17, for a total transaction of $46,755.00. Following the transaction, the chief executive officer now owns 70,928 shares in the company, valued at approximately $2,210,825.76. The disclosure for this sale can be found here. Insiders own 2.42% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. EJF Capital LLC grew its holdings in Peoples Bancorp by 42.9% in the first quarter. EJF Capital LLC now owns 221,254 shares of the bank’s stock worth $6,927,000 after purchasing an additional 66,418 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Peoples Bancorp by 24.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 10,568 shares of the bank’s stock worth $336,000 after buying an additional 2,095 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Peoples Bancorp in the first quarter worth approximately $1,685,000. Polaris Capital Management LLC bought a new position in shares of Peoples Bancorp in the first quarter worth approximately $313,000. Finally, Wellington Shields & Co. LLC bought a new position in shares of Peoples Bancorp in the first quarter worth approximately $1,685,000. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Peoples Bancorp Company Profile

(Get Rating)

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 and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.

See Also

Analyst Recommendations for Peoples Bancorp (NASDAQ:PEBO)

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