Piper Sandler Begins Coverage on Peoples Bancorp (NASDAQ:PEBO)

Research analysts at Piper Sandler began coverage on shares of Peoples Bancorp (NASDAQ:PEBO) in a research report issued on Friday, StockNewsAPI reports. The firm set an “overweight” rating and a $39.00 price target on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 35.04% from the company’s current price.

Peoples Bancorp Trading Down 0.6 %

Shares of NASDAQ:PEBO opened at $28.88 on Friday. The company has a 50 day moving average of $30.78 and a 200-day moving average of $29.89. The firm has a market cap of $1.03 billion, a P/E ratio of 8.65 and a beta of 0.75. Peoples Bancorp has a twelve month low of $24.84 and a twelve month high of $34.85. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Peoples Bancorp (NASDAQ:PEBO) last released its earnings results on Tuesday, July 23rd. The bank reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Peoples Bancorp had a return on equity of 12.76% and a net margin of 20.58%. The business had revenue of $154.47 million during the quarter, compared to the consensus estimate of $111.30 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. As a group, analysts anticipate that Peoples Bancorp will post 3.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David F. Dierker sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $30.36, for a total value of $30,360.00. Following the sale, the director now directly owns 10,330 shares in the company, valued at approximately $313,618.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director David F. Dierker sold 4,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $32.07, for a total value of $128,280.00. Following the completion of the sale, the director now owns 13,330 shares in the company, valued at $427,493.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David F. Dierker sold 1,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $30.36, for a total value of $30,360.00. Following the completion of the sale, the director now directly owns 10,330 shares of the company’s stock, valued at approximately $313,618.80. The disclosure for this sale can be found here. Insiders have sold 6,617 shares of company stock worth $209,214 in the last ninety days. 3.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC grew its position in Peoples Bancorp by 64.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 20,428 shares of the bank’s stock valued at $690,000 after purchasing an additional 8,027 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Peoples Bancorp in the first quarter worth $118,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Peoples Bancorp by 17.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,652 shares of the bank’s stock worth $375,000 after acquiring an additional 1,900 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Peoples Bancorp by 25.8% during the first quarter. Principal Financial Group Inc. now owns 16,844 shares of the bank’s stock worth $499,000 after acquiring an additional 3,453 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Peoples Bancorp by 126.0% during the first quarter. BNP Paribas Financial Markets now owns 20,367 shares of the bank’s stock valued at $603,000 after purchasing an additional 11,354 shares during the last quarter. 60.68% of the stock is owned by institutional investors and hedge funds.

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.