Peoples Bancorp Inc. (NASDAQ:PEBO) Receives $37.00 Average Target Price from Analysts

Peoples Bancorp Inc. (NASDAQ:PEBO) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $37.00.

Several research firms have commented on PEBO. Hovde Group boosted their price target on shares of Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Peoples Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. DA Davidson raised their price target on Peoples Bancorp from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler lifted their price target on Peoples Bancorp from $37.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd.

Insider Buying and Selling at Peoples Bancorp

In related news, Director Dwight Eric Smith bought 1,000 shares of the stock in a transaction dated Monday, April 27th. The stock was acquired at an average price of $34.51 per share, for a total transaction of $34,510.00. Following the acquisition, the director owned 9,256 shares in the company, valued at approximately $319,424.56. This represents a 12.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carol A. Schneeberger sold 1,895 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $31.37, for a total transaction of $59,446.15. Following the completion of the transaction, the director owned 19,309 shares of the company’s stock, valued at approximately $605,723.33. The trade was a 8.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,881 shares of company stock worth $122,872 over the last three months. Insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new stake in shares of Peoples Bancorp in the 3rd quarter valued at about $30,000. Quarry LP purchased a new stake in shares of Peoples Bancorp in the 3rd quarter valued at about $35,000. State of Alaska Department of Revenue purchased a new stake in shares of Peoples Bancorp in the 3rd quarter valued at about $42,000. Strs Ohio purchased a new stake in shares of Peoples Bancorp in the 1st quarter valued at about $62,000. Finally, Accredited Wealth Management LLC lifted its holdings in shares of Peoples Bancorp by 524.0% in the 3rd quarter. Accredited Wealth Management LLC now owns 2,184 shares of the bank’s stock valued at $65,000 after purchasing an additional 1,834 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.

Peoples Bancorp Trading Down 1.4%

PEBO opened at $33.06 on Thursday. Peoples Bancorp has a 12 month low of $27.49 and a 12 month high of $35.46. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.60 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.84 and a quick ratio of 0.83. The business has a fifty day moving average price of $33.20 and a 200 day moving average price of $31.77.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, April 21st. The bank reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Peoples Bancorp had a return on equity of 9.75% and a net margin of 17.92%.The business had revenue of $119.33 million during the quarter, compared to the consensus estimate of $118.72 million. Sell-side analysts expect that Peoples Bancorp will post 3.41 earnings per share for the current fiscal year.

Peoples Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 18th. Investors of record on Monday, May 4th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.1%. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, May 4th. Peoples Bancorp’s dividend payout ratio is currently 53.85%.

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.