Peoples Bancorp Inc. (NASDAQ:PEBO) Raises Dividend to $0.40 Per Share

Peoples Bancorp Inc. (NASDAQ:PEBO) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Investors of record on Monday, May 6th will be given a dividend of 0.40 per share by the bank on Monday, May 20th. This represents a $1.60 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.39.

Peoples Bancorp has raised its dividend by an average of 4.2% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Peoples Bancorp has a dividend payout ratio of 45.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Peoples Bancorp to earn $3.54 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 44.1%.

Peoples Bancorp Price Performance

NASDAQ:PEBO traded up $0.10 during mid-day trading on Wednesday, reaching $29.30. 19,673 shares of the stock were exchanged, compared to its average volume of 123,928. The business has a fifty day moving average price of $28.25 and a 200 day moving average price of $29.32. The firm has a market capitalization of $1.04 billion, a PE ratio of 8.50 and a beta of 0.76. Peoples Bancorp has a 1-year low of $23.05 and a 1-year high of $34.85. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.21.

Peoples Bancorp (NASDAQ:PEBO) last released its earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.10. The firm had revenue of $112.92 million for the quarter, compared to analyst estimates of $115.00 million. Peoples Bancorp had a return on equity of 13.47% and a net margin of 21.52%. Research analysts expect that Peoples Bancorp will post 3.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PEBO. Hovde Group initiated coverage on Peoples Bancorp in a report on Monday, April 1st. They set a “market perform” rating and a $31.00 target price on the stock. StockNews.com lowered Peoples Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Finally, Piper Sandler initiated coverage on Peoples Bancorp in a research report on Friday, February 23rd. They issued an “overweight” rating and a $34.00 price target for the company.

Peoples Bancorp Company Profile

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; 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.