DA Davidson Has Lowered Expectations for Peoples Bancorp (NASDAQ:PEBO) Stock Price

Peoples Bancorp (NASDAQ:PEBO) had its price objective reduced by analysts at DA Davidson from $44.00 to $42.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. DA Davidson’s price objective indicates a potential upside of 14.79% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price objective on Peoples Bancorp from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Piper Sandler set a $46.00 target price on shares of Peoples Bancorp in a research report on Wednesday, July 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a research note on Wednesday, August 26th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Peoples Bancorp has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Peoples Bancorp Stock Performance

Shares of NASDAQ PEBO opened at $36.59 on Thursday. The business’s 50-day moving average price is $40.10 and its two-hundred day moving average price is $36.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. Peoples Bancorp has a one year low of $27.49 and a one year high of $42.29. The company has a market capitalization of $1.32 billion, a P/E ratio of 11.05 and a beta of 0.59.

Peoples Bancorp (NASDAQ:PEBO) last issued its earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.11. The company had revenue of $121.95 million for the quarter, compared to analyst estimates of $120.05 million. Peoples Bancorp had a return on equity of 10.71% and a net margin of 19.17%. Analysts anticipate that Peoples Bancorp will post 3.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dwight Smith acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was acquired at an average cost of $39.81 per share, with a total value of $39,810.00. Following the acquisition, the director owned 10,256 shares in the company, valued at approximately $408,291.36. This represents a 10.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Edgell sold 3,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total transaction of $123,810.00. Following the transaction, the insider directly owned 20,183 shares of the company’s stock, valued at approximately $832,952.41. This represents a 12.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Peoples Bancorp during the second quarter worth approximately $128,113,000. Dimensional Fund Advisors LP grew its stake in shares of Peoples Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,270,134 shares of the bank’s stock worth $74,619,000 after acquiring an additional 21,273 shares during the last quarter. Peoples Bank OH grew its stake in shares of Peoples Bancorp by 1.6% in the first quarter. Peoples Bank OH now owns 443,618 shares of the bank’s stock worth $14,582,000 after acquiring an additional 7,043 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Peoples Bancorp during the second quarter worth $10,181,000. Finally, Segall Bryant & Hamill LLC raised its stake in Peoples Bancorp by 28.5% during the 1st quarter. Segall Bryant & Hamill LLC now owns 259,843 shares of the bank’s stock valued at $8,541,000 after purchasing an additional 57,650 shares during the last quarter. 60.68% of the stock is owned by institutional investors.

Peoples Bancorp Company Profile

Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides community banking services to consumers, businesses and institutions.

Its offerings include deposit accounts, residential and commercial mortgages, consumer and business loans, credit and debit cards, cash-management services and online and mobile banking. Peoples also provides wealth-management, trust and investment services, as well as insurance products through affiliated businesses.

Founded in 1902, Peoples Bancorp has developed a regional banking franchise serving communities across Ohio, West Virginia, Kentucky and Virginia.