Peoples Bancorp (NASDAQ:PEBO) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

by · The Markets Daily

Shares of Peoples Bancorp Inc. (NASDAQ:PEBO – Get Free Report) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $38.44 and traded as high as $39.07. Peoples Bancorp shares last traded at $38.81, with a volume of 404,632 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PEBO shares. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a research report on Wednesday, August 26th. Zacks Research upgraded Peoples Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Peoples Bancorp in a research report on Monday, October 5th. Piper Sandler boosted their price objective on shares of Peoples Bancorp from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Finally, DA Davidson decreased their price target on Peoples Bancorp from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Peoples Bancorp currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Read Our Latest Stock Report on PEBO

Peoples Bancorp Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50 day moving average price of $38.41 and a 200-day moving average price of $36.05. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 11.38 and a beta of 0.62.

Peoples Bancorp (NASDAQ:PEBO – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The bank reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. The firm had revenue of $124.52 million for the quarter, compared to the consensus estimate of $123.40 million. Peoples Bancorp had a net margin of 19.76% and a return on equity of 11.10%. On average, analysts forecast that Peoples Bancorp Inc. will post 3.74 earnings per share for the current year.

Peoples Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, November 2nd. Peoples Bancorp’s dividend payout ratio is 49.56%.

Insider Activity at Peoples Bancorp

In related news, insider Matthew Edgell sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total transaction of $123,810.00. Following the completion of the sale, the insider owned 20,183 shares in the company, valued at $832,952.41. The trade was a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Augenstein sold 2,000 shares of Peoples Bancorp stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $37.88, for a total value of $75,760.00. Following the sale, the executive vice president owned 24,885 shares in the company, valued at $942,643.80. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,650 shares of company stock worth $300,588 in the last three months. 3.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peoples Bancorp

Institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Peoples Bancorp in the second quarter worth approximately $33,000. Allworth Financial LP purchased a new stake in Peoples Bancorp during the 2nd quarter worth $50,000. Deutsche Bank AG purchased a new stake in Peoples Bancorp during the 2nd quarter worth $190,000. PNC Financial Services Group Inc. increased its holdings in Peoples Bancorp by 39.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,558 shares of the bank’s stock valued at $150,000 after purchasing an additional 1,301 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Peoples Bancorp during the second quarter worth about $201,000. 60.68% of the stock is owned by institutional investors and hedge funds.

About Peoples Bancorp

(Get Free Report)

Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides banking and financial services to individuals, businesses, nonprofit organizations and public-sector customers.

Peoples Bank offers deposit accounts, residential and commercial lending, consumer loans, credit cards, treasury management and other financial services. The company also provides wealth management, trust and investment services, as well as insurance products through affiliated operations.

Founded in 1902, Peoples Bancorp serves communities primarily in Ohio, West Virginia, Kentucky and Virginia through a network of banking offices and digital banking channels.

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