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

Peoples Bancorp Inc. (NASDAQ:PEBO)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $36.87 and last traded at $36.72, with a volume of 22814 shares. The stock had previously closed at $36.60.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PEBO shares. DA Davidson boosted their target price on Peoples Bancorp from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Hovde Group lifted their price target on Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, April 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Bancorp in a report on Friday, May 29th. Finally, Piper Sandler reissued an “overweight” rating on shares of Peoples Bancorp in a research report on Wednesday, June 10th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Peoples Bancorp Stock Up 1.0%

The stock’s 50-day moving average price is $34.65 and its two-hundred day moving average price is $32.94. The stock has a market capitalization of $1.33 billion, a P/E ratio of 11.84 and a beta of 0.62. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, April 21st. The bank reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Peoples Bancorp had a net margin of 17.92% and a return on equity of 9.75%. The company had revenue of $119.33 million for the quarter, compared to analysts’ expectations of $118.72 million. As a group, research analysts expect that Peoples Bancorp Inc. will post 3.4 earnings per share for the current fiscal year.

Peoples Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were paid a $0.42 dividend. The ex-dividend date was Monday, May 4th. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 4.5%. Peoples Bancorp’s dividend payout ratio is presently 53.85%.

Insider Activity at Peoples Bancorp

In other news, Director Dwight Eric Smith purchased 1,000 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $34.51 per share, for a total transaction of $34,510.00. Following the purchase, the director owned 9,256 shares of the company’s stock, valued at $319,424.56. The trade was a 12.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peoples Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. increased its stake in shares of Peoples Bancorp by 1.3% in the first quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank’s stock worth $801,000 after purchasing an additional 320 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Peoples Bancorp by 1.6% in the 4th quarter. Cetera Investment Advisers now owns 24,348 shares of the bank’s stock worth $731,000 after buying an additional 385 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Peoples Bancorp by 2.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank’s stock worth $508,000 after buying an additional 400 shares during the period. Pathway Financial Advisers LLC grew its stake in Peoples Bancorp by 1.2% in the 4th quarter. Pathway Financial Advisers LLC now owns 35,520 shares of the bank’s stock valued at $1,067,000 after buying an additional 414 shares in the last quarter. Finally, Inspire Investing LLC grew its stake in Peoples Bancorp by 2.8% in the 4th quarter. Inspire Investing LLC now owns 15,582 shares of the bank’s stock valued at $468,000 after buying an additional 420 shares in the last quarter. 60.68% of the stock is owned by hedge funds and other institutional investors.

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.