Peoples Bancorp Inc. (NASDAQ:PEBO) Plans Dividend Increase – $0.40 Per Share

Peoples Bancorp Inc. (NASDAQ:PEBO) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Stockholders of record on Monday, May 6th will be paid a dividend of 0.40 per share by the bank on Monday, May 20th. This represents a $1.60 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend is Friday, May 3rd. This is an increase from Peoples Bancorp’s previous quarterly dividend of $0.39.

Peoples Bancorp has raised its dividend payment by an average of 4.2% annually over the last three years and has raised its dividend every year for the last 8 years. Peoples Bancorp has a payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Peoples Bancorp to earn $3.54 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 44.1%.

Peoples Bancorp Price Performance

Shares of NASDAQ:PEBO traded up $0.21 during trading on Wednesday, hitting $29.41. 8,294 shares of the stock were exchanged, compared to its average volume of 123,767. The company has a fifty day moving average price of $28.25 and a two-hundred day moving average price of $29.32. The company has a market cap of $1.04 billion, a PE ratio of 8.48 and a beta of 0.76. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.21. Peoples Bancorp has a 12-month low of $23.05 and a 12-month high of $34.85.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.04 EPS for the quarter, topping the consensus estimate of $0.94 by $0.10. The business had revenue of $112.92 million for the quarter, compared to analyst estimates of $115.00 million. Peoples Bancorp had a return on equity of 13.47% and a net margin of 21.52%. On average, analysts forecast that Peoples Bancorp will post 3.39 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Hovde Group assumed coverage on Peoples Bancorp in a research note on Monday, April 1st. They set a “market perform” rating and a $31.00 price target on the stock. StockNews.com downgraded Peoples Bancorp from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Finally, Piper Sandler started coverage on Peoples Bancorp in a report on Friday, February 23rd. They set an “overweight” rating and a $34.00 price objective for the company.

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.