Brokers Set Expectations for Peoples Bancorp Inc.’s Q2 2024 Earnings (NASDAQ:PEBO)

Peoples Bancorp Inc. (NASDAQ:PEBO) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Peoples Bancorp in a research note issued on Thursday, April 25th. DA Davidson analyst M. Navas forecasts that the bank will earn $0.83 per share for the quarter. The consensus estimate for Peoples Bancorp’s current full-year earnings is $3.41 per share. DA Davidson also issued estimates for Peoples Bancorp’s FY2024 earnings at $3.50 EPS.

Peoples Bancorp (NASDAQ:PEBO) last announced 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 net margin of 20.17% and a return on equity of 12.93%.

A number of other equities research analysts have also weighed in on the stock. StockNews.com upgraded shares of Peoples Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler started coverage on shares of Peoples Bancorp in a research note on Friday, February 23rd. They set an “overweight” rating and a $34.00 target price for the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $33.00 price objective (down from $36.00) on shares of Peoples Bancorp in a research note on Wednesday. Hovde Group started coverage on Peoples Bancorp in a research note on Monday, April 1st. They issued a “market perform” rating and a $31.00 price objective for the company. Finally, Stephens restated an “equal weight” rating and issued a $34.00 price objective on shares of Peoples Bancorp in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.40.

Peoples Bancorp Price Performance

Shares of PEBO opened at $29.76 on Friday. The firm has a market cap of $1.06 billion, a PE ratio of 8.91 and a beta of 0.76. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $28.33 and a two-hundred day simple moving average of $29.36. Peoples Bancorp has a 1-year low of $23.05 and a 1-year high of $34.85.

Institutional Investors Weigh In On Peoples Bancorp

A number of institutional investors have recently bought and sold shares of PEBO. AJOVista LLC purchased a new stake in Peoples Bancorp in the 4th quarter worth $36,000. Allspring Global Investments Holdings LLC increased its stake in Peoples Bancorp by 46.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,078 shares of the bank’s stock worth $53,000 after buying an additional 663 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Peoples Bancorp in the 1st quarter worth $118,000. Bfsg LLC purchased a new stake in Peoples Bancorp in the 4th quarter worth $174,000. Finally, EMC Capital Management increased its stake in Peoples Bancorp by 214.9% in the 3rd quarter. EMC Capital Management now owns 7,292 shares of the bank’s stock worth $185,000 after buying an additional 4,976 shares in the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.39. Peoples Bancorp’s dividend payout ratio is presently 46.71%.

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.