Peoples Bancorp (NASDAQ:PEBO) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts also recently weighed in on the stock. Hovde Group initiated coverage on shares of Peoples Bancorp in a research note on Monday, April 1st. They set a market perform rating and a $31.00 price target for the company. Keefe, Bruyette & Woods restated a market perform rating and set a $33.00 target price (down previously from $36.00) on shares of Peoples Bancorp in a report on Wednesday, April 24th. Piper Sandler assumed coverage on shares of Peoples Bancorp in a report on Friday, February 23rd. They issued an overweight rating and a $34.00 price target for the company. Finally, Stephens reiterated an equal weight rating and issued a $34.00 price objective on shares of Peoples Bancorp in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $33.40.

Peoples Bancorp Price Performance

Peoples Bancorp stock opened at $29.50 on Friday. The business’s 50-day simple moving average is $28.34 and its 200 day simple moving average is $29.43. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 8.83 and a beta of 0.76. Peoples Bancorp has a 12-month low of $23.05 and a 12-month high of $34.85.

Peoples Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 5.42%. Peoples Bancorp’s payout ratio is 46.71%.

Hedge Funds Weigh In On Peoples Bancorp

Several hedge funds have recently modified their holdings of PEBO. Arizona State Retirement System raised its holdings in Peoples Bancorp by 3.7% during the fourth quarter. Arizona State Retirement System now owns 9,393 shares of the bank’s stock worth $317,000 after acquiring an additional 333 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Peoples Bancorp by 1.6% during the 3rd quarter. Federated Hermes Inc. now owns 24,023 shares of the bank’s stock worth $610,000 after purchasing an additional 382 shares during the last quarter. Shoker Investment Counsel Inc. raised its stake in shares of Peoples Bancorp by 1.3% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 29,724 shares of the bank’s stock worth $754,000 after purchasing an additional 385 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Peoples Bancorp by 3.7% in the 4th quarter. D.A. Davidson & CO. now owns 11,988 shares of the bank’s stock valued at $405,000 after buying an additional 433 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Peoples Bancorp by 5.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 11,998 shares of the bank’s stock valued at $305,000 after buying an additional 590 shares in the last quarter. Institutional investors own 60.68% of the company’s stock.

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.