Peoples Bancorp (NASDAQ:PEBO) Price Target Raised to $42.00

Peoples Bancorp (NASDAQ:PEBO) had its target price upped by Keefe, Bruyette & Woods from $38.00 to $42.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a research note on Friday, May 29th. DA Davidson increased their target price on shares of Peoples Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday. Hovde Group lifted 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 note on Wednesday, April 22nd. Finally, Piper Sandler set a $46.00 price target on shares of Peoples Bancorp in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Peoples Bancorp Trading Up 1.3%

Shares of PEBO stock opened at $40.31 on Wednesday. Peoples Bancorp has a 12-month low of $27.49 and a 12-month high of $40.50. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $36.89 and a 200-day moving average of $34.26. The firm has a market cap of $1.45 billion, a P/E ratio of 12.18 and a beta of 0.62.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.11. Peoples Bancorp had a return on equity of 10.79% and a net margin of 19.17%.The business had revenue of $121.95 million during the quarter, compared to analyst estimates of $120.05 million. Sell-side analysts anticipate that Peoples Bancorp will post 3.56 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.68 annualized dividend and a yield of 4.2%. Peoples Bancorp’s payout ratio is currently 50.76%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted its stake in Peoples Bancorp by 1.3% during 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 during the last quarter. Cetera Investment Advisers grew its position in Peoples Bancorp by 1.6% during the fourth quarter. Cetera Investment Advisers now owns 24,348 shares of the bank’s stock valued at $731,000 after acquiring an additional 385 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Peoples Bancorp by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank’s stock worth $508,000 after acquiring an additional 400 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Peoples Bancorp by 1.2% during the fourth quarter. Pathway Financial Advisers LLC now owns 35,520 shares of the bank’s stock worth $1,067,000 after acquiring an additional 414 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Peoples Bancorp by 2.8% in the 4th quarter. Inspire Investing LLC now owns 15,582 shares of the bank’s stock worth $468,000 after acquiring an additional 420 shares during the last quarter. 60.68% of the stock is currently 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.