Peoples Bancorp (NASDAQ:PEBO) Sets New 12-Month High – Time to Buy?

Peoples Bancorp Inc. (NASDAQ:PEBO)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $39.68 and last traded at $39.7110, with a volume of 44425 shares trading hands. The stock had previously closed at $38.83.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PEBO. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a research report on Friday, May 29th. Hovde Group raised their price target on Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 22nd. Piper Sandler lifted their price objective on shares of Peoples Bancorp from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, DA Davidson lifted their price objective on shares of Peoples Bancorp from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Peoples Bancorp Trading Down 1.4%

The company’s 50 day simple moving average is $36.24 and its 200-day simple moving average is $33.92. The firm has a market cap of $1.41 billion, a P/E ratio of 12.63 and a beta of 0.62. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.15.

Peoples Bancorp (NASDAQ:PEBO) last released its earnings results on Tuesday, April 21st. The bank reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Peoples Bancorp had a return on equity of 9.75% and a net margin of 17.92%.The firm had revenue of $119.33 million for the quarter, compared to analysts’ expectations of $118.72 million. As a group, research analysts predict that Peoples Bancorp Inc. will post 3.41 earnings per share for the current fiscal year.

Peoples Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.3%. This is an increase from Peoples Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, May 4th. Peoples Bancorp’s payout ratio is currently 53.85%.

Insider Buying and Selling

In other news, Director Dwight Eric Smith bought 1,000 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was acquired at an average cost of $34.51 per share, with a total value of $34,510.00. Following the transaction, the director directly owned 9,256 shares in the company, valued at approximately $319,424.56. This trade represents a 12.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Peoples Bancorp

Several institutional investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its stake in Peoples Bancorp by 28.5% in the first quarter. Segall Bryant & Hamill LLC now owns 259,843 shares of the bank’s stock worth $8,541,000 after acquiring an additional 57,650 shares during the period. Amundi bought a new position in Peoples Bancorp during the 1st quarter worth about $312,000. Royal Bank of Canada increased its position in Peoples Bancorp by 10.0% during the 1st quarter. Royal Bank of Canada now owns 6,586 shares of the bank’s stock valued at $216,000 after purchasing an additional 600 shares during the period. Empowered Funds LLC increased its position in Peoples Bancorp by 6.1% during the 1st quarter. Empowered Funds LLC now owns 162,004 shares of the bank’s stock valued at $5,325,000 after purchasing an additional 9,258 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of Peoples Bancorp by 169.7% in the 1st quarter. Quantinno Capital Management LP now owns 44,883 shares of the bank’s stock valued at $1,475,000 after purchasing an additional 28,243 shares in the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Company Profile

Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.

On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.