Analysts Set Peoples Bancorp Inc. (NASDAQ:PEBO) Target Price at $33.13

Shares of Peoples Bancorp Inc. (NASDAQ:PEBO) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $33.1250.

Several equities analysts have commented on the stock. Zacks Research raised shares of Peoples Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Piper Sandler lowered their price objective on shares of Peoples Bancorp from $36.00 to $33.50 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. DA Davidson assumed coverage on Peoples Bancorp in a report on Wednesday, October 22nd. They set a “buy” rating and a $33.00 target price on the stock. Weiss Ratings raised Peoples Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Peoples Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th.

Insider Transactions at Peoples Bancorp

In other Peoples Bancorp news, Director W Glenn Hogan bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $28.49 per share, with a total value of $28,490.00. Following the completion of the purchase, the director directly owned 535,239 shares in the company, valued at approximately $15,248,959.11. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Kevin R. Reeves acquired 1,250 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were bought at an average price of $29.11 per share, with a total value of $36,387.50. Following the transaction, the director directly owned 13,055 shares in the company, valued at approximately $380,031.05. The trade was a 10.59% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 4,110 shares of company stock valued at $118,832 over the last three months. 3.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peoples Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of PEBO. Parallel Advisors LLC boosted its position in shares of Peoples Bancorp by 132.3% in the 2nd quarter. Parallel Advisors LLC now owns 864 shares of the bank’s stock valued at $26,000 after purchasing an additional 492 shares during the period. Larson Financial Group LLC purchased a new position in shares of Peoples Bancorp in the third quarter worth approximately $30,000. Quarry LP acquired a new stake in shares of Peoples Bancorp during the third quarter valued at approximately $35,000. State of Alaska Department of Revenue purchased a new stake in shares of Peoples Bancorp in the 3rd quarter valued at approximately $42,000. Finally, Strs Ohio purchased a new stake in shares of Peoples Bancorp in the 1st quarter valued at approximately $62,000. 60.68% of the stock is owned by institutional investors and hedge funds.

Peoples Bancorp Stock Up 0.7%

Shares of Peoples Bancorp stock opened at $30.92 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. Peoples Bancorp has a 1-year low of $26.21 and a 1-year high of $33.83. The business’s fifty day moving average price is $29.92 and its two-hundred day moving average price is $30.05. The company has a market capitalization of $1.10 billion, a P/E ratio of 10.81 and a beta of 0.65.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Tuesday, October 21st. The bank reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.07. Peoples Bancorp had a return on equity of 9.35% and a net margin of 16.57%.The company had revenue of $118.51 million during the quarter, compared to analysts’ expectations of $116.88 million. As a group, research analysts forecast that Peoples Bancorp will post 3.28 EPS for the current year.

Peoples Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Tuesday, November 4th were given a $0.41 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $1.64 annualized dividend and a yield of 5.3%. Peoples Bancorp’s payout ratio is 57.34%.

About Peoples Bancorp

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.