Peoples Bancorp (NASDAQ:PEBO) Sets New 52-Week High – Time to Buy?

Peoples Bancorp Inc. (NASDAQ:PEBO) shares reached a new 52-week high during trading on Monday . The company traded as high as $36.64 and last traded at $36.5820, with a volume of 157602 shares. The stock had previously closed at $36.60.

Wall Street Analyst Weigh In

PEBO has been the subject of a number of analyst reports. DA Davidson upped their price objective on shares of Peoples Bancorp from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a report on Friday, May 29th. Hovde Group boosted their target price on shares of Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Peoples Bancorp in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Peoples Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Peoples Bancorp Trading Down 0.6%

The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 11.69 and a beta of 0.62. The business has a fifty day moving average of $34.38 and a two-hundred day moving average of $32.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.84.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Tuesday, April 21st. The bank reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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. As a group, equities analysts expect that Peoples Bancorp Inc. will post 3.4 earnings per share for the current fiscal year.

Peoples Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Peoples Bancorp’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.6%. Peoples Bancorp’s dividend payout ratio is 53.85%.

Insider Buying and Selling

In related news, Director Dwight Eric Smith acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $34.51 per share, for a total transaction of $34,510.00. Following the transaction, the director owned 9,256 shares in the company, valued at $319,424.56. This trade represents a 12.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp

Several hedge funds have recently modified their holdings of the company. Larson Financial Group LLC acquired a new stake in shares of Peoples Bancorp during the third quarter worth $30,000. Quarry LP purchased a new stake in Peoples Bancorp during the third quarter worth approximately $35,000. Strs Ohio acquired a new stake in Peoples Bancorp in the 1st quarter valued at $62,000. Accredited Wealth Management LLC grew its stake in shares of Peoples Bancorp by 524.0% in the third quarter. Accredited Wealth Management LLC now owns 2,184 shares of the bank’s stock valued at $65,000 after buying an additional 1,834 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Peoples Bancorp by 19.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,688 shares of the bank’s stock worth $81,000 after purchasing an additional 445 shares in the last quarter. 60.68% of the stock is owned by institutional investors and hedge funds.

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.