Peoples Bancorp (NASDAQ:PEBO) Shares Pass Above 200 Day Moving Average – Here’s Why

Peoples Bancorp Inc. (NASDAQ:PEBO) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.90 and traded as high as $31.75. Peoples Bancorp shares last traded at $31.54, with a volume of 208,626 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen raised Peoples Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. DA Davidson started coverage on shares of Peoples Bancorp in a report on Wednesday, October 22nd. They issued a “buy” rating and a $33.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Peoples Bancorp in a research report on Monday. Zacks Research raised shares of Peoples Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Piper Sandler reduced their price target on shares of Peoples Bancorp from $36.00 to $33.50 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.13.

Peoples Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The business’s 50-day moving average is $29.49 and its 200-day moving average is $29.92. The company has a market capitalization of $1.13 billion, a PE ratio of 11.08 and a beta of 0.67.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, October 21st. The bank reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. Peoples Bancorp had a net margin of 16.57% and a return on equity of 9.35%. The business had revenue of $118.51 million for the quarter, compared to analysts’ expectations of $116.88 million. On average, research analysts anticipate that Peoples Bancorp Inc. will post 3.28 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Tuesday, November 4th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, November 4th. Peoples Bancorp’s dividend payout ratio (DPR) is 57.34%.

Insiders Place Their Bets

In other Peoples Bancorp news, Director Carol A. Schneeberger sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $30.22, for a total transaction of $30,220.00. Following the completion of the sale, the director directly owned 23,767 shares in the company, valued at approximately $718,238.74. This trade represents a 4.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director W Glenn Hogan bought 1,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $28.49 per share, for a total transaction of $28,490.00. Following the purchase, the director owned 535,239 shares of the company’s stock, valued at approximately $15,248,959.11. This represents a 0.19% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 4,110 shares of company stock valued at $118,832. 3.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Peoples Bancorp

A number of large investors have recently made changes to their positions in the stock. Nuveen LLC bought a new position in Peoples Bancorp during the first quarter valued at approximately $3,721,000. American Century Companies Inc. grew its holdings in shares of Peoples Bancorp by 12.7% in the first quarter. American Century Companies Inc. now owns 854,771 shares of the bank’s stock worth $25,353,000 after acquiring an additional 96,556 shares during the period. Hsbc Holdings PLC purchased a new stake in Peoples Bancorp during the first quarter valued at $299,000. Martingale Asset Management L P lifted its holdings in Peoples Bancorp by 82.6% in the first quarter. Martingale Asset Management L P now owns 18,263 shares of the bank’s stock valued at $542,000 after acquiring an additional 8,263 shares during the period. Finally, Ieq Capital LLC purchased a new position in Peoples Bancorp in the first quarter worth about $242,000. 60.68% of the stock is currently owned by institutional investors.

About Peoples Bancorp

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.