Peoples Bancorp (NASDAQ:PEBO) Now Covered by Analysts at Hovde Group

Hovde Group assumed coverage on shares of Peoples Bancorp (NASDAQ:PEBO) in a report issued on Monday, StockNewsAPI reports. The firm issued a market perform rating and a $31.00 price target on the bank’s stock.

PEBO has been the topic of several other reports. Piper Sandler initiated coverage on Peoples Bancorp in a research note on Friday, February 23rd. They set an overweight rating and a $34.00 target price on the stock. StockNews.com upgraded Peoples Bancorp from a sell rating to a hold rating in a research note on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $31.80.

Peoples Bancorp Stock Down 3.0 %

NASDAQ PEBO opened at $28.72 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. Peoples Bancorp has a 52 week low of $23.05 and a 52 week high of $34.85. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 8.30 and a beta of 0.76. The company has a fifty day moving average of $28.62 and a two-hundred day moving average of $29.03.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.10. Peoples Bancorp had a net margin of 21.52% and a return on equity of 13.47%. The firm had revenue of $112.92 million during the quarter, compared to the consensus estimate of $115.00 million. On average, analysts predict that Peoples Bancorp will post 3.39 earnings per share for the current year.

Peoples Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend was Friday, February 2nd. Peoples Bancorp’s dividend payout ratio (DPR) is presently 45.09%.

Insider Buying and Selling

In other Peoples Bancorp news, Director Carol A. Schneeberger sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $32.27, for a total transaction of $32,270.00. Following the completion of the sale, the director now directly owns 31,213 shares in the company, valued at approximately $1,007,243.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AJOVista LLC acquired a new stake in shares of Peoples Bancorp in the fourth quarter valued at approximately $36,000. FMR LLC grew its position in Peoples Bancorp by 74.1% in the 1st quarter. FMR LLC now owns 1,504 shares of the bank’s stock valued at $39,000 after acquiring an additional 640 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Peoples Bancorp during the fourth quarter worth about $45,000. Quantbot Technologies LP increased its stake in Peoples Bancorp by 60.0% during the first quarter. Quantbot Technologies LP now owns 1,600 shares of the bank’s stock worth $50,000 after purchasing an additional 600 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Peoples Bancorp by 46.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,078 shares of the bank’s stock worth $53,000 after buying an additional 663 shares during the period. 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.