Peoples Bancorp (NASDAQ:PEBO) Releases Earnings Results

Peoples Bancorp (NASDAQ:PEBO) posted its quarterly earnings results on Tuesday. The bank reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11, FiscalAI reports. The business had revenue of $124.52 million during the quarter, compared to analyst estimates of $123.40 million. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%.

Peoples Bancorp Price Performance

PEBO stock opened at $36.47 on Tuesday. Peoples Bancorp has a one year low of $28.01 and a one year high of $42.29. The company’s fifty day moving average price is $38.87 and its 200-day moving average price is $37.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $1.31 billion, a PE ratio of 11.02 and a beta of 0.62.

Insider Transactions at Peoples Bancorp

In other news, Director Dwight Smith purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was bought at an average cost of $39.81 per share, with a total value of $39,810.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Matthew Edgell sold 3,000 shares of Peoples Bancorp stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total value 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. The trade was a 12.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEBO. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Peoples Bancorp in a research note on Monday, October 5th. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a research report on Wednesday, August 26th. Piper Sandler set a $42.00 target price on shares of Peoples Bancorp in a research note on Monday, October 5th. Zacks Research raised shares of Peoples Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. Finally, DA Davidson dropped their target price on shares of Peoples Bancorp from $44.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.50.

About Peoples Bancorp

Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Peoples Bank offers consumer and commercial deposit accounts, residential and commercial real estate loans, consumer lending, mortgage services, treasury management and other business financing solutions. The company also provides wealth management, trust, investment and insurance services through affiliated or related operations.

Founded in 1902, Peoples Bancorp serves communities primarily in Ohio, West Virginia, Kentucky and Virginia through a network of banking offices and digital banking channels.