Peoples Bancorp (NASDAQ:PEBO) Upgraded to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday, PriceTargets.com reports. They currently have $35.00 price objective on the bank’s stock, up from their prior price objective of $32.00.

Separately, Zacks Investment Research cut 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 and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $38.80.

Shares of PEBO stock opened at $31.23 on Wednesday. The company has a market cap of $614.08 million, a P/E ratio of 10.92 and a beta of 0.94. The stock has a 50 day simple moving average of $30.39 and a two-hundred day simple moving average of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.81 and a current ratio of 0.81. Peoples Bancorp has a fifty-two week low of $18.35 and a fifty-two week high of $36.75.

Peoples Bancorp (NASDAQ:PEBO) last issued its earnings results on Monday, July 19th. The bank reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.14). The business had revenue of $55.81 million during the quarter, compared to the consensus estimate of $55.86 million. Peoples Bancorp had a return on equity of 11.49% and a net margin of 24.95%. On average, research analysts predict that Peoples Bancorp will post 2.14 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Monday, August 2nd were paid a $0.36 dividend. The ex-dividend date was Friday, July 30th. This represents a $1.44 dividend on an annualized basis and a yield of 4.61%. Peoples Bancorp’s dividend payout ratio (DPR) is presently 73.85%.

In other news, Director Michael N. Vittorio acquired 1,000 shares of Peoples Bancorp stock in a transaction on Monday, August 16th. The stock was purchased at an average price of $31.34 per share, with a total value of $31,340.00. Following the completion of the purchase, the director now owns 1,819 shares of the company’s stock, valued at approximately $57,007.46. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired 2,000 shares of company stock valued at $60,515 in the last three months. Insiders own 3.01% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Deprince Race & Zollo Inc. boosted its position in shares of Peoples Bancorp by 53.5% during the first quarter. Deprince Race & Zollo Inc. now owns 159,414 shares of the bank’s stock valued at $5,288,000 after buying an additional 55,550 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Peoples Bancorp by 3.9% during the first quarter. Franklin Resources Inc. now owns 1,024,497 shares of the bank’s stock valued at $33,982,000 after buying an additional 38,569 shares during the last quarter. BlackRock Inc. boosted its position in shares of Peoples Bancorp by 10.6% during the first quarter. BlackRock Inc. now owns 1,574,458 shares of the bank’s stock valued at $52,225,000 after buying an additional 150,364 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Peoples Bancorp by 20.2% during the second quarter. Victory Capital Management Inc. now owns 55,269 shares of the bank’s stock valued at $1,637,000 after buying an additional 9,269 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Peoples Bancorp by 18.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,536 shares of the bank’s stock valued at $714,000 after buying an additional 3,387 shares during the last quarter. 57.20% of the stock is currently owned by institutional investors.

About Peoples Bancorp

Peoples Bancorp, Inc operates as a financial holding company, which engages in banking, investment, insurance, and trust solutions. It offers various demand deposit accounts, savings accounts, money market accounts and certificates of deposit; commercial, consumer, real estate mortgage loans and lines of credit; debit and automated teller machine cards; credit cards for individuals and businesses; merchant credit card transaction processing services; corporate and personal trust services; safe deposit rental facilities; money orders and cashier’s checks; life, health, property and casualty insurance products; brokerage services; and custom-tailored fiduciary, employee benefit plans and asset management & administration services.

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