Peoples Bancorp (NASDAQ:PEBO) Hits New 12-Month High – Here’s Why

Peoples Bancorp Inc. (NASDAQ:PEBO) reached a new 52-week high during trading on Wednesday . The stock traded as high as $33.85 and last traded at $33.7850, with a volume of 133853 shares changing hands. The stock had previously closed at $33.06.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PEBO shares. DA Davidson set a $35.00 price objective on shares of Peoples Bancorp in a research report on Wednesday, January 21st. Piper Sandler lowered their price target on Peoples Bancorp from $36.00 to $33.50 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Weiss Ratings upgraded Peoples Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. Finally, Wall Street Zen raised Peoples Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.63.

Peoples Bancorp Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day moving average price is $31.02 and its two-hundred day moving average price is $30.10. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 11.30 and a beta of 0.68.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings data on Tuesday, January 20th. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The firm had revenue of $119.57 million for the quarter, compared to the consensus estimate of $117.97 million. Peoples Bancorp had a net margin of 17.27% and a return on equity of 9.61%. On average, research analysts forecast that Peoples Bancorp Inc. will post 3.28 EPS for the current fiscal year.

Peoples Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, February 2nd. This represents a $1.64 annualized dividend and a yield of 4.9%. Peoples Bancorp’s dividend payout ratio is presently 54.85%.

Insiders Place Their Bets

In other news, Director W Glenn Hogan acquired 1,000 shares of Peoples Bancorp stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $28.49 per share, for a total transaction of $28,490.00. Following the completion of the purchase, the director directly owned 535,239 shares of the company’s stock, valued at $15,248,959.11. This trade represents a 0.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $30.60, for a total transaction of $30,600.00. Following the sale, the director directly owned 22,204 shares in the company, valued at $679,442.40. This trade represents a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have bought a total of 3,107 shares of company stock valued at $91,869 in the last quarter. Insiders own 3.41% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning increased its position in Peoples Bancorp by 35.5% in the 2nd quarter. Creative Planning now owns 44,061 shares of the bank’s stock valued at $1,346,000 after acquiring an additional 11,533 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Peoples Bancorp during the second quarter valued at $271,000. CSM Advisors LLC acquired a new position in shares of Peoples Bancorp during the second quarter valued at $4,887,000. Bank of New York Mellon Corp lifted its holdings in Peoples Bancorp by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 260,719 shares of the bank’s stock worth $7,962,000 after purchasing an additional 6,654 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its holdings in Peoples Bancorp by 3.9% in the second quarter. Wealthcare Advisory Partners LLC now owns 11,034 shares of the bank’s stock worth $337,000 after purchasing an additional 418 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.

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.