Peoples Bancorp Inc. (NASDAQ:PEBO) Stock Has Consensus Price Target of $42.00

Shares of Peoples Bancorp Inc. (NASDAQ:PEBO) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.00.

A number of brokerages have recently issued reports on PEBO. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Peoples Bancorp in a research note on Monday, October 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a report on Wednesday, August 26th. Zacks Research raised Peoples Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Piper Sandler boosted their price target on shares of Peoples Bancorp from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Finally, DA Davidson cut their price target on shares of Peoples Bancorp from $44.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 1st.

Insider Activity at Peoples Bancorp

In other Peoples Bancorp news, EVP Hugh J. Donlon sold 2,650 shares of the company’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $38.12, for a total value of $101,018.00. Following the transaction, the executive vice president owned 18,365 shares of the company’s stock, valued at approximately $700,073.80. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Augenstein sold 2,000 shares of the stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $37.88, for a total value of $75,760.00. Following the sale, the executive vice president owned 24,885 shares of the company’s stock, valued at $942,643.80. This trade represents a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Peoples Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. StoneX Group Inc. bought a new position in shares of Peoples Bancorp in the 3rd quarter valued at approximately $507,000. Pictet Asset Management Holding SA grew its holdings in Peoples Bancorp by 5.9% during the third quarter. Pictet Asset Management Holding SA now owns 5,882 shares of the bank’s stock valued at $215,000 after purchasing an additional 328 shares during the last quarter. Vise Technologies Inc. raised its holdings in Peoples Bancorp by 103.7% in the 3rd quarter. Vise Technologies Inc. now owns 12,069 shares of the bank’s stock worth $442,000 after acquiring an additional 6,145 shares during the period. Engineers Gate Manager LP grew its position in shares of Peoples Bancorp by 13.7% in the second quarter. Engineers Gate Manager LP now owns 8,504 shares of the bank’s stock valued at $327,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Peoples Bancorp in the second quarter valued at about $207,000. Institutional investors and hedge funds own 60.68% of the company’s stock.

Peoples Bancorp Trading Up 2.3%

NASDAQ PEBO opened at $39.84 on Thursday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 11.75 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85. Peoples Bancorp has a one year low of $28.23 and a one year high of $42.29. The company’s 50 day moving average price is $38.39 and its 200 day moving average price is $36.17.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings data on Tuesday, October 20th. The bank reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $124.52 million for the quarter, compared to analyst estimates of $123.40 million. Peoples Bancorp had a net margin of 19.76% and a return on equity of 11.08%. On average, sell-side analysts predict that Peoples Bancorp will post 3.74 EPS for the current year.

Peoples Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.68 annualized dividend and a yield of 4.2%. Peoples Bancorp’s dividend payout ratio is currently 49.56%.

Peoples Bancorp Company Profile

Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides banking and financial services to individuals, businesses, nonprofit organizations and public-sector customers.

Peoples Bank offers deposit accounts, residential and commercial lending, consumer loans, credit cards, treasury management and other financial services. The company also provides wealth management, trust and investment services, as well as insurance products through affiliated operations.

Founded in 1902, Peoples Bancorp serves communities primarily in Ohio, West Virginia, Kentucky and Virginia through a network of banking offices and digital banking channels.