Peoples Bancorp (PEBO) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Other analysts have also issued research reports about the company. Boenning Scattergood restated a hold rating on shares of Peoples Bancorp in a report on Wednesday, January 10th. Zacks Investment Research upgraded Peoples Bancorp from a hold rating to a buy rating and set a $37.00 target price for the company in a report on Wednesday, January 10th. ValuEngine upgraded Peoples Bancorp from a hold rating to a buy rating in a report on Saturday, February 3rd. Finally, Sandler O’Neill restated a hold rating and issued a $37.00 target price on shares of Peoples Bancorp in a report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Peoples Bancorp currently has an average rating of Hold and an average price target of $35.25.

Shares of Peoples Bancorp (NASDAQ PEBO) opened at $34.25 on Monday. The stock has a market capitalization of $623.78, a price-to-earnings ratio of 16.07, a PEG ratio of 1.92 and a beta of 0.75. Peoples Bancorp has a 1-year low of $29.55 and a 1-year high of $36.40. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.43.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.04%. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.22. Peoples Bancorp’s dividend payout ratio is presently 49.52%.

In related news, Director Terry Thomas Sweet purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were acquired at an average cost of $33.97 per share, with a total value of $67,940.00. Following the completion of the purchase, the director now owns 4,767 shares of the company’s stock, valued at approximately $161,934.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.04% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PEBO. Prudential Financial Inc. increased its stake in shares of Peoples Bancorp by 23.6% in the second quarter. Prudential Financial Inc. now owns 16,934 shares of the bank’s stock worth $544,000 after acquiring an additional 3,230 shares during the last quarter. Swiss National Bank increased its stake in shares of Peoples Bancorp by 13.3% in the second quarter. Swiss National Bank now owns 27,300 shares of the bank’s stock worth $877,000 after acquiring an additional 3,200 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Peoples Bancorp by 19.0% in the second quarter. Wells Fargo & Company MN now owns 18,990 shares of the bank’s stock worth $610,000 after acquiring an additional 3,034 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Peoples Bancorp by 19.8% in the second quarter. Alliancebernstein L.P. now owns 17,635 shares of the bank’s stock worth $567,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in shares of Peoples Bancorp by 2.7% in the second quarter. Thrivent Financial For Lutherans now owns 23,050 shares of the bank’s stock worth $741,000 after acquiring an additional 600 shares during the last quarter. 63.50% of the stock is currently owned by institutional investors and hedge funds.

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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. Peoples Investment Company has one subsidiary, Peoples Capital Corporation.

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