Peoples Bancorp (NASDAQ:PEBO) Sets New 1-Year High – What’s Next?

Peoples Bancorp Inc. (NASDAQ:PEBO)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $39.33 and last traded at $38.6450, with a volume of 162504 shares. The stock had previously closed at $38.71.

Analyst Ratings Changes

Several research analysts recently issued reports on PEBO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp in a research report on Friday, May 29th. Piper Sandler increased their price target on Peoples Bancorp from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. DA Davidson raised their price objective on Peoples Bancorp from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Hovde Group lifted their price objective on shares of Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Peoples Bancorp Stock Performance

The firm has a market cap of $1.38 billion, a PE ratio of 12.33 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. The company has a 50-day simple moving average of $35.56 and a two-hundred day simple moving average of $33.51.

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

Peoples Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were given a $0.42 dividend. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, May 4th. Peoples Bancorp’s payout ratio is presently 53.85%.

Insider Buying and Selling at Peoples Bancorp

In related news, Director Dwight Eric Smith purchased 1,000 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $34.51 per share, for a total transaction of $34,510.00. Following the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Peoples Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS Group AG grew its stake in shares of Peoples Bancorp by 391.8% during the 4th quarter. UBS Group AG now owns 198,742 shares of the bank’s stock worth $5,968,000 after acquiring an additional 158,327 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in Peoples Bancorp in the 4th quarter valued at about $1,817,000. Tudor Investment Corp ET AL lifted its holdings in Peoples Bancorp by 211.5% during the third quarter. Tudor Investment Corp ET AL now owns 83,279 shares of the bank’s stock valued at $2,498,000 after purchasing an additional 56,548 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Peoples Bancorp by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,080,137 shares of the bank’s stock valued at $62,467,000 after purchasing an additional 48,166 shares during the last quarter. Finally, Versor Investments LP bought a new position in Peoples Bancorp during the fourth quarter worth about $889,000. 60.68% of the stock is owned by institutional investors.

About Peoples Bancorp

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.