Peoples Bancorp (NASDAQ:PEBO) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Peoples Bancorp Inc. (NASDAQ:PEBO) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $36.43 and traded as high as $40.18. Peoples Bancorp shares last traded at $39.61, with a volume of 322,253 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on PEBO shares. DA Davidson raised their target price on Peoples Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Piper Sandler set a $46.00 price target on Peoples Bancorp in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their price objective on Peoples Bancorp from $38.00 to $42.00 and gave the company a “market perform” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp in a research report on Wednesday, August 26th. Three 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, Peoples Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Peoples Bancorp Price Performance

The business has a 50 day moving average price of $40.17 and a two-hundred day moving average price of $36.48. The stock has a market cap of $1.41 billion, a PE ratio of 11.84 and a beta of 0.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.11. Peoples Bancorp had a return on equity of 10.71% and a net margin of 19.17%.The company had revenue of $121.95 million during the quarter, compared to the consensus estimate of $120.05 million. Research analysts expect that Peoples Bancorp Inc. will post 3.56 earnings per share for the current fiscal year.

Peoples Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, August 3rd. Peoples Bancorp’s payout ratio is presently 50.76%.

Insiders Place Their Bets

In related 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 price of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the acquisition, the director owned 10,256 shares of the company’s stock, valued at approximately $408,291.36. This represents a 10.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Edgell sold 3,000 shares of Peoples Bancorp stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $41.27, for a total transaction of $123,810.00. Following the completion of the sale, the insider directly owned 20,183 shares in the company, valued at approximately $832,952.41. This represents a 12.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp

Several large investors have recently modified their holdings of PEBO. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Peoples Bancorp in the 2nd quarter worth approximately $33,000. Allworth Financial LP purchased a new position in shares of Peoples Bancorp during the 2nd quarter valued at $50,000. PNC Financial Services Group Inc. grew its position in shares of Peoples Bancorp by 39.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,558 shares of the bank’s stock valued at $150,000 after purchasing an additional 1,301 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Peoples Bancorp in the second quarter worth $190,000. Finally, Algert Global LLC bought a new position in shares of Peoples Bancorp in the second quarter worth $201,000. Hedge funds and other institutional investors own 60.68% of the company’s stock.

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.