Peoples Bancorp (NASDAQ:PEBO) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a sell rating in a research note published on Friday.

A number of other research analysts have also weighed in on PEBO. Hovde Group started coverage on Peoples Bancorp in a report on Monday, April 1st. They set a market perform rating and a $31.00 target price for the company. Piper Sandler started coverage on Peoples Bancorp in a report on Friday, February 23rd. They set an overweight rating and a $34.00 target price for the company.

Peoples Bancorp Stock Up 3.4 %

PEBO stock opened at $28.49 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.01 billion, a PE ratio of 8.23 and a beta of 0.76. Peoples Bancorp has a twelve month low of $23.05 and a twelve month high of $34.85. The stock has a 50-day simple moving average of $28.23 and a two-hundred day simple moving average of $29.22.

Peoples Bancorp (NASDAQ:PEBO) last posted its earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. The business had revenue of $112.92 million during the quarter, compared to analyst estimates of $115.00 million. Peoples Bancorp had a return on equity of 13.47% and a net margin of 21.52%. On average, equities analysts predict that Peoples Bancorp will post 3.39 EPS for the current fiscal year.

Peoples Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend was Friday, February 2nd. Peoples Bancorp’s payout ratio is 45.09%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Sapient Capital LLC purchased a new position in shares of Peoples Bancorp during the fourth quarter worth about $226,000. Alps Advisors Inc. lifted its position in Peoples Bancorp by 17.8% in the 3rd quarter. Alps Advisors Inc. now owns 13,294 shares of the bank’s stock worth $337,000 after buying an additional 2,009 shares during the last quarter. American Century Companies Inc. lifted its position in Peoples Bancorp by 15.0% in the 3rd quarter. American Century Companies Inc. now owns 273,435 shares of the bank’s stock worth $6,940,000 after buying an additional 35,603 shares during the last quarter. Vanguard Group Inc. lifted its position in Peoples Bancorp by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,733,426 shares of the bank’s stock worth $43,994,000 after buying an additional 12,449 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Peoples Bancorp by 48.4% in the 3rd quarter. Principal Financial Group Inc. now owns 11,632 shares of the bank’s stock worth $295,000 after buying an additional 3,796 shares during the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Company Profile

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; 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.