Peoples Bancorp (NASDAQ:PEBO) Hits New 1-Year High – Still a Buy?

Peoples Bancorp Inc. (NASDAQ:PEBO)’s stock price reached a new 52-week high on Monday . The stock traded as high as $36.64 and last traded at $36.5820, with a volume of 157602 shares trading hands. The stock had previously closed at $36.60.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a report on Friday, May 29th. Piper Sandler reaffirmed an “overweight” rating on shares of Peoples Bancorp in a research note on Wednesday, June 10th. DA Davidson lifted their price target 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. Finally, Hovde Group lifted their price target on shares of Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Peoples Bancorp Price Performance

The stock has a market cap of $1.30 billion, a PE ratio of 11.57 and a beta of 0.62. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $34.48 and its 200-day moving average is $32.76.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Tuesday, April 21st. The bank reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. The firm had revenue of $119.33 million for the quarter, compared to the consensus estimate of $118.72 million. Peoples Bancorp had a net margin of 17.92% and a return on equity of 9.75%. As a group, sell-side analysts predict that Peoples Bancorp Inc. will post 3.4 earnings per share for the current year.

Peoples Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 4th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Peoples Bancorp’s previous quarterly dividend of $0.41. Peoples Bancorp’s payout ratio is presently 53.85%.

Insider Buying and Selling at Peoples Bancorp

In related news, Director Dwight Eric Smith bought 1,000 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $34.51 per share, with a total value of $34,510.00. Following the transaction, the director owned 9,256 shares of the company’s stock, valued at approximately $319,424.56. This trade represents a 12.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of PEBO. Royal Bank of Canada increased its position in shares of Peoples Bancorp by 4.9% in the 1st quarter. Royal Bank of Canada now owns 23,996 shares of the bank’s stock worth $711,000 after purchasing an additional 1,111 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Peoples Bancorp by 46.5% in the 1st quarter. AQR Capital Management LLC now owns 101,653 shares of the bank’s stock worth $3,015,000 after purchasing an additional 32,259 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Peoples Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,544 shares of the bank’s stock worth $609,000 after purchasing an additional 862 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Peoples Bancorp by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,290 shares of the bank’s stock worth $2,441,000 after purchasing an additional 5,175 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Peoples Bancorp by 87.2% in the 1st quarter. Jane Street Group LLC now owns 64,668 shares of the bank’s stock worth $1,918,000 after purchasing an additional 30,121 shares during the last quarter. 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.