Peoples Bancorp (NASDAQ:PEBO) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Peoples Bancorp Inc. is a bank holding company. “

NASDAQ:PEBO opened at $31.23 on Wednesday. The stock has a 50-day simple moving average of $30.39 and a 200 day simple moving average of $31.67. The company has a market capitalization of $614.08 million, a price-to-earnings ratio of 10.92 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.81 and a current ratio of 0.81. Peoples Bancorp has a one year low of $18.35 and a one year high of $36.75.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Monday, July 19th. The bank reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.14). The business had revenue of $55.81 million for the quarter, compared to the consensus estimate of $55.86 million. Peoples Bancorp had a net margin of 24.95% and a return on equity of 11.49%. On average, equities research analysts forecast that Peoples Bancorp will post 2.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Monday, August 2nd were issued a dividend of $0.36 per share. The ex-dividend date was Friday, July 30th. This represents a $1.44 annualized dividend and a yield of 4.61%. Peoples Bancorp’s payout ratio is 73.85%.

In other news, Director Michael N. Vittorio bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 16th. The shares were purchased at an average price of $31.34 per share, with a total value of $31,340.00. Following the completion of the acquisition, the director now directly owns 1,819 shares in the company, valued at $57,007.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have purchased 2,000 shares of company stock worth $60,515. 3.01% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PEBO. Metropolitan Life Insurance Co NY increased its holdings in shares of Peoples Bancorp by 91,583.3% in the second quarter. Metropolitan Life Insurance Co NY now owns 5,501 shares of the bank’s stock valued at $163,000 after buying an additional 5,495 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Peoples Bancorp by 211.8% in the second quarter. Citigroup Inc. now owns 6,061 shares of the bank’s stock valued at $180,000 after buying an additional 4,117 shares in the last quarter. Jump Financial LLC bought a new position in shares of Peoples Bancorp in the second quarter valued at $201,000. AQR Capital Management LLC bought a new position in shares of Peoples Bancorp in the second quarter valued at $210,000. Finally, Prudential Financial Inc. bought a new position in shares of Peoples Bancorp in the second quarter valued at $214,000. 57.20% of the stock is currently owned by institutional investors.

About Peoples Bancorp

Peoples Bancorp, Inc operates as a financial holding company, which engages in banking, investment, insurance, and trust solutions. It offers various demand deposit accounts, savings accounts, money market accounts and certificates of deposit; commercial, consumer, real estate mortgage loans and lines of credit; debit and automated teller machine cards; credit cards for individuals and businesses; merchant credit card transaction processing services; corporate and personal trust services; safe deposit rental facilities; money orders and cashier’s checks; life, health, property and casualty insurance products; brokerage services; and custom-tailored fiduciary, employee benefit plans and asset management & administration services.

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