Peoples Bancorp (NASDAQ:PEBO) Sets New 1-Year High – Here’s Why

Peoples Bancorp Inc. (NASDAQ:PEBO) reached a new 52-week high during trading on Monday . The company traded as high as $36.62 and last traded at $36.50, with a volume of 1793 shares changing hands. The stock had previously closed at $35.83.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price target on shares of Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.50.

Peoples Bancorp Stock Down 1.9 %

The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. The company has a 50 day simple moving average of $31.84 and a two-hundred day simple moving average of $30.87. The company has a market capitalization of $1.26 billion, a P/E ratio of 10.07 and a beta of 0.74.

Peoples Bancorp (NASDAQ:PEBO) last released its earnings results on Tuesday, October 22nd. The bank reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. The firm had revenue of $158.41 million for the quarter, compared to the consensus estimate of $112.30 million. Peoples Bancorp had a return on equity of 11.84% and a net margin of 20.16%. During the same quarter in the previous year, the company posted $1.06 EPS. As a group, equities analysts predict that Peoples Bancorp Inc. will post 3.31 EPS for the current year.

Peoples Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 4th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.53%. Peoples Bancorp’s dividend payout ratio (DPR) is presently 45.58%.

Insider Buying and Selling

In other news, insider Matthew Edgell sold 3,000 shares of Peoples Bancorp stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $34.36, for a total transaction of $103,080.00. Following the completion of the sale, the insider now directly owns 16,092 shares in the company, valued at approximately $552,921.12. This trade represents a 15.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carol A. Schneeberger sold 1,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $34.13, for a total transaction of $34,130.00. Following the completion of the transaction, the director now owns 29,322 shares in the company, valued at approximately $1,000,759.86. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,445 shares of company stock valued at $348,956. Company insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEBO. Shoker Investment Counsel Inc. increased its position in shares of Peoples Bancorp by 1.2% during the second quarter. Shoker Investment Counsel Inc. now owns 30,789 shares of the bank’s stock worth $924,000 after acquiring an additional 356 shares during the period. FMR LLC grew its stake in Peoples Bancorp by 42.0% in the third quarter. FMR LLC now owns 1,252 shares of the bank’s stock worth $38,000 after purchasing an additional 370 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Peoples Bancorp by 3.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,043 shares of the bank’s stock worth $362,000 after purchasing an additional 381 shares in the last quarter. D.A. Davidson & CO. raised its position in Peoples Bancorp by 2.7% during the 3rd quarter. D.A. Davidson & CO. now owns 23,961 shares of the bank’s stock valued at $721,000 after purchasing an additional 626 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Peoples Bancorp in the 2nd quarter worth $27,000. 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.