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

Peoples Bancorp Inc. (NASDAQ:PEBO)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock 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.

Analysts Set New Price Targets

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

Peoples Bancorp Stock Performance

The company has a market cap of $1.29 billion, a PE ratio of 10.21 and a beta of 0.74. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $31.75 and its two-hundred day moving average is $30.83.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. The business 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 period in the previous year, the business earned $1.06 earnings per share. On average, equities research analysts anticipate that Peoples Bancorp Inc. will post 3.31 EPS for the current year.

Peoples Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 4th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.60 annualized dividend and a yield of 4.40%. Peoples Bancorp’s payout ratio is 45.58%.

Insider Buying and Selling at Peoples Bancorp

In related news, Director David F. Dierker sold 1,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $30.36, for a total transaction of $30,360.00. Following the completion of the transaction, the director now directly owns 10,330 shares of the company’s stock, valued at approximately $313,618.80. This trade represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Matthew Edgell sold 3,000 shares of the business’s 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 owns 16,092 shares in the company, valued at approximately $552,921.12. The trade was a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,445 shares of company stock valued at $348,956 in the last three months. 3.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peoples Bancorp

Institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in shares of Peoples Bancorp during the 2nd quarter valued at approximately $27,000. FMR LLC lifted its position in Peoples Bancorp by 42.0% during the third quarter. FMR LLC now owns 1,252 shares of the bank’s stock valued at $38,000 after purchasing an additional 370 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Peoples Bancorp in the 2nd quarter worth $46,000. CWM LLC grew its stake in shares of Peoples Bancorp by 503.9% in the 3rd quarter. CWM LLC now owns 1,860 shares of the bank’s stock worth $56,000 after buying an additional 1,552 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Peoples Bancorp by 20,273.3% in the 2nd quarter. Quest Partners LLC now owns 3,056 shares of the bank’s stock worth $92,000 after buying an additional 3,041 shares during the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

About Peoples Bancorp

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.