Peoples Bancorp (NASDAQ:PEBO) Price Target Raised to $40.00 at Piper Sandler

Peoples Bancorp (NASDAQ:PEBO) had its price target lifted by Piper Sandler from $39.00 to $40.00 in a research note published on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

Several other brokerages have also commented on PEBO. Keefe, Bruyette & Woods lifted their target price on Peoples Bancorp from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson lowered their target price on shares of Peoples Bancorp from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Stephens reissued an “equal weight” rating and set a $37.50 target price on shares of Peoples Bancorp in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.90.

Peoples Bancorp Stock Up 2.7 %

Shares of NASDAQ:PEBO opened at $32.20 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. Peoples Bancorp has a 52-week low of $26.74 and a 52-week high of $37.07. The company has a 50 day moving average of $33.25 and a two-hundred day moving average of $31.92. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.17 and a beta of 0.79.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. Peoples Bancorp had a net margin of 20.16% and a return on equity of 11.84%. During the same quarter in the prior year, the company earned $1.04 earnings per share. As a group, analysts forecast that Peoples Bancorp will post 3.31 earnings per share for the current fiscal year.

Peoples Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Monday, February 3rd. Peoples Bancorp’s dividend payout ratio (DPR) is 45.58%.

Insider Buying and Selling

In related news, Director David F. Dierker sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $35.36, for a total value of $70,720.00. Following the sale, the director now owns 1,214 shares of the company’s stock, valued at approximately $42,927.04. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carol A. Schneeberger sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $34.13, for a total value of $34,130.00. Following the completion of the sale, the director now directly owns 29,322 shares in the company, valued at approximately $1,000,759.86. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,000 shares of company stock valued at $411,010. Insiders own 3.46% of the company’s stock.

Institutional Trading of Peoples Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Peoples Bancorp by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,465,385 shares of the bank’s stock valued at $73,960,000 after acquiring an additional 6,712 shares in the last quarter. State Street Corp raised its stake in Peoples Bancorp by 1.4% during the 3rd quarter. State Street Corp now owns 1,027,413 shares of the bank’s stock valued at $30,915,000 after acquiring an additional 14,426 shares in the last quarter. Geode Capital Management LLC raised its stake in Peoples Bancorp by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 850,654 shares of the bank’s stock valued at $25,601,000 after acquiring an additional 22,285 shares in the last quarter. Wellington Management Group LLP raised its stake in Peoples Bancorp by 153.6% during the 3rd quarter. Wellington Management Group LLP now owns 352,488 shares of the bank’s stock valued at $10,606,000 after acquiring an additional 213,488 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Peoples Bancorp by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 295,203 shares of the bank’s stock valued at $8,883,000 after acquiring an additional 5,071 shares in the last quarter. Institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Company Profile

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.