Zacks Investment Research upgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a buy rating in a report published on Thursday morning. The brokerage currently has $37.00 price objective on the bank’s stock.
According to Zacks, “Peoples Bancorp Inc. is a bank holding company. “
Other equities analysts have also recently issued reports about the stock. Boenning Scattergood reaffirmed a hold rating on shares of Peoples Bancorp in a research note on Wednesday, October 25th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $34.00 price target on shares of Peoples Bancorp in a research note on Tuesday, October 3rd. Finally, BidaskClub cut shares of Peoples Bancorp from a hold rating to a sell rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Peoples Bancorp presently has an average rating of Hold and a consensus target price of $34.67.
Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.09. Peoples Bancorp had a net margin of 21.10% and a return on equity of 7.99%. The business had revenue of $41.83 million for the quarter, compared to analysts’ expectations of $41.96 million. analysts forecast that Peoples Bancorp will post 2.1 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Peoples Bancorp in the 3rd quarter valued at about $103,000. Citigroup Inc. grew its stake in Peoples Bancorp by 361.7% in the 2nd quarter. Citigroup Inc. now owns 6,694 shares of the bank’s stock valued at $215,000 after acquiring an additional 5,244 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in Peoples Bancorp in the 3rd quarter valued at about $252,000. Virginia Retirement Systems ET AL acquired a new stake in Peoples Bancorp in the 3rd quarter valued at about $272,000. Finally, Goldman Sachs Group Inc. grew its stake in Peoples Bancorp by 36.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 9,344 shares of the bank’s stock valued at $300,000 after acquiring an additional 2,499 shares during the last quarter. 63.50% of the stock is currently owned by hedge funds and other institutional investors.
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About Peoples Bancorp
Peoples Bancorp Inc is a financial holding company. The Company operates principally through its subsidiary, Peoples Bank. Peoples Bank’s operating subsidiaries include Peoples Insurance Agency, LLC (Peoples Insurance) and two asset management companies, PBNA, LLC. and Peoples Tax Credit Equity, LLC.
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