B. Riley Analysts Raise Earnings Estimates for Peoples Bancorp Inc. (NASDAQ:PEBO)

Peoples Bancorp Inc. (NASDAQ:PEBOGet Rating) – Equities researchers at B. Riley lifted their Q2 2023 EPS estimates for Peoples Bancorp in a research note issued to investors on Tuesday, August 2nd. B. Riley analyst S. Moss now forecasts that the bank will post earnings per share of $0.79 for the quarter, up from their previous estimate of $0.75. The consensus estimate for Peoples Bancorp’s current full-year earnings is $3.42 per share. B. Riley also issued estimates for Peoples Bancorp’s Q3 2023 earnings at $0.79 EPS.

Peoples Bancorp (NASDAQ:PEBOGet Rating) last announced its earnings results on Tuesday, July 26th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.72 by $0.16. Peoples Bancorp had a net margin of 23.41% and a return on equity of 10.47%. During the same quarter in the previous year, the firm earned $0.81 EPS.

PEBO has been the subject of several other reports. StockNews.com cut Peoples Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday. Piper Sandler downgraded Peoples Bancorp from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $31.00 to $30.00 in a research report on Friday, July 8th. DA Davidson upped their price objective on Peoples Bancorp to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Raymond James downgraded Peoples Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 28th. Finally, Stephens began coverage on Peoples Bancorp in a research report on Wednesday, June 8th. They set an “equal weight” rating and a $33.00 price objective for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.00.

Peoples Bancorp Stock Up 1.7 %

Shares of PEBO opened at $30.10 on Friday. Peoples Bancorp has a 12 month low of $25.63 and a 12 month high of $34.63. The firm’s 50 day moving average is $27.89 and its 200-day moving average is $29.78. The stock has a market capitalization of $856.13 million, a PE ratio of 12.39 and a beta of 0.89. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.25.

Peoples Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 8th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $1.52 annualized dividend and a yield of 5.05%. Peoples Bancorp’s dividend payout ratio is presently 62.55%.

Hedge Funds Weigh In On Peoples Bancorp

Several large investors have recently bought and sold shares of the company. State Street Corp raised its position in Peoples Bancorp by 2.3% in the first quarter. State Street Corp now owns 722,637 shares of the bank’s stock valued at $22,626,000 after purchasing an additional 16,262 shares during the last quarter. ProShare Advisors LLC bought a new position in Peoples Bancorp in the second quarter valued at about $8,136,000. Victory Capital Management Inc. raised its position in Peoples Bancorp by 11.8% in the second quarter. Victory Capital Management Inc. now owns 240,803 shares of the bank’s stock valued at $6,405,000 after purchasing an additional 25,412 shares during the last quarter. EJF Capital LLC raised its position in Peoples Bancorp by 42.9% in the first quarter. EJF Capital LLC now owns 221,254 shares of the bank’s stock valued at $6,927,000 after purchasing an additional 66,418 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Peoples Bancorp by 75.6% in the second quarter. Assenagon Asset Management S.A. now owns 185,157 shares of the bank’s stock valued at $4,925,000 after purchasing an additional 79,702 shares during the last quarter. 48.02% of the stock is currently owned by institutional investors.

Peoples Bancorp Company Profile

(Get Rating)

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and retail banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and provides commercial and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.

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Earnings History and Estimates for Peoples Bancorp (NASDAQ:PEBO)

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