Peoples Bancorp (NASDAQ:PEBO) Lifted to “Hold” at Zacks Investment Research

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

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

PEBO has been the topic of several other research reports. Boenning Scattergood restated a hold rating on shares of Peoples Bancorp in a research note on Wednesday, May 1st. BidaskClub upgraded shares of Zebra Technologies from a hold rating to a buy rating in a research note on Saturday, July 6th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock has an average rating of Hold and a consensus price target of $38.50.

PEBO opened at $31.75 on Thursday. Peoples Bancorp has a fifty-two week low of $28.35 and a fifty-two week high of $39.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83. The business’s fifty day simple moving average is $31.86. The firm has a market capitalization of $656.99 million, a P/E ratio of 12.03, a P/E/G ratio of 1.39 and a beta of 0.76.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.06. Peoples Bancorp had a net margin of 22.59% and a return on equity of 10.42%. The firm had revenue of $49.34 million for the quarter, compared to the consensus estimate of $49.09 million. On average, analysts forecast that Peoples Bancorp will post 2.86 earnings per share for the current fiscal year.

In other news, Director George W. Broughton sold 10,011 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $32.40, for a total value of $324,356.40. Following the sale, the director now owns 145,336 shares in the company, valued at approximately $4,708,886.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George W. Broughton sold 2,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $31.94, for a total transaction of $63,880.00. Following the completion of the sale, the director now owns 148,336 shares in the company, valued at approximately $4,737,851.84. The disclosure for this sale can be found here. Insiders sold a total of 12,154 shares of company stock worth $392,798 in the last 90 days. 2.89% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PEBO. Kennedy Capital Management Inc. acquired a new position in Peoples Bancorp during the 1st quarter worth about $3,351,000. Assenagon Asset Management S.A. acquired a new position in Peoples Bancorp during the 1st quarter worth about $1,957,000. Dimensional Fund Advisors LP lifted its position in Peoples Bancorp by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,594,969 shares of the bank’s stock worth $48,008,000 after buying an additional 44,958 shares in the last quarter. BlackRock Inc. lifted its position in Peoples Bancorp by 2.8% during 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 in the last quarter. Finally, Millennium Management LLC lifted its position in Peoples Bancorp by 76.5% during the 4th quarter. Millennium Management LLC now owns 34,488 shares of the bank’s stock worth $1,038,000 after buying an additional 14,944 shares in the last quarter. Institutional investors and hedge funds own 57.43% of the company’s stock.

Peoples Bancorp Company Profile

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.

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