Peoples Bancorp (NASDAQ:PEBO) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a sell rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “Peoples Bancorp Inc. is a bank holding company. “

A number of other equities analysts have also commented on PEBO. Boenning Scattergood reiterated a hold rating on shares of Peoples Bancorp in a research note on Wednesday, May 1st. BidaskClub upgraded Zebra Technologies from a hold rating to a buy rating in a research note on Saturday, July 6th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company currently has an average rating of Sell and a consensus price target of $38.50.

Peoples Bancorp stock opened at $32.31 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $31.85. The company has a market capitalization of $668.59 million, a price-to-earnings ratio of 11.75, a PEG ratio of 1.46 and a beta of 0.76. Peoples Bancorp has a 52 week low of $28.35 and a 52 week high of $39.42.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $49.34 million for the quarter, compared to analyst estimates of $49.09 million. Peoples Bancorp had a return on equity of 10.42% and a net margin of 22.59%. On average, analysts predict that Peoples Bancorp will post 2.76 earnings per share for the current year.

In related news, Director George W. Broughton sold 10,011 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $32.40, for a total transaction of $324,356.40. Following the transaction, the director now directly owns 145,336 shares in the company, valued at $4,708,886.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George W. Broughton sold 2,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $31.94, for a total value of $63,880.00. Following the transaction, the director now owns 148,336 shares in the company, valued at $4,737,851.84. The disclosure for this sale can be found here. Insiders sold 12,154 shares of company stock worth $392,798 over the last quarter. 2.89% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PEBO. Rhumbline Advisers increased its holdings in Peoples Bancorp by 46.4% in the 4th quarter. Rhumbline Advisers now owns 25,583 shares of the bank’s stock worth $770,000 after buying an additional 8,106 shares during the period. Prudential Financial Inc. increased its holdings in Peoples Bancorp by 17.9% in the 4th quarter. Prudential Financial Inc. now owns 30,114 shares of the bank’s stock worth $907,000 after buying an additional 4,570 shares during the period. PNC Financial Services Group Inc. increased its holdings in Peoples Bancorp by 58.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,809 shares of the bank’s stock worth $85,000 after buying an additional 1,033 shares during the period. BlackRock Inc. increased its holdings in Peoples Bancorp by 2.8% in the 4th quarter. BlackRock Inc. now owns 1,409,961 shares of the bank’s stock worth $42,440,000 after buying an additional 38,186 shares during the period. Finally, Citigroup Inc. increased its holdings in Peoples Bancorp by 18.0% in the 4th quarter. Citigroup Inc. now owns 5,669 shares of the bank’s stock worth $171,000 after buying an additional 863 shares during the period. Hedge funds and other institutional investors own 57.40% of the company’s stock.

About Peoples Bancorp

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 real estate construction loans, other commercial real estate loans, commercial and industrial loans, residential real estate loans, home equity lines of credit, and indirect and other consumer loans.

Recommended Story: How is a management fee different from a performance fee?

Get a free copy of the Zacks research report on Peoples Bancorp (PEBO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Peoples Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peoples Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.