Key Points
- Insider sale: EVP Hugh Donlon sold 500 Peoples Bancorp shares for approximately $19,935, reducing his ownership by 2.1% to 23,365 shares.
- Strong quarterly results: Peoples Bancorp reported quarterly EPS of $0.96, beating estimates by $0.11, while revenue of $121.95 million also exceeded expectations.
- Dividend and outlook: The company declared a $0.42 quarterly dividend, equating to a 4.0% annualized yield. Analysts have a consensus “Moderate Buy” rating and a $42.00 price target.
Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report) EVP Hugh Donlon sold 500 shares of the firm's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $39.87, for a total value of $19,935.00. Following the completion of the sale, the executive vice president owned 23,365 shares of the company's stock, valued at approximately $931,562.55. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Peoples Bancorp Price Performance
Shares of PEBO opened at $42.23 on Wednesday. The stock has a market cap of $1.52 billion, a P/E ratio of 12.76 and a beta of 0.62. The business's fifty day moving average is $37.20 and its 200 day moving average is $34.43. Peoples Bancorp Inc. has a 12-month low of $27.49 and a 12-month high of $42.29. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.15.
Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last posted its earnings results on Tuesday, July 21st. The bank reported $0.96 EPS for the quarter, topping the consensus estimate of $0.85 by $0.11. The company had revenue of $121.95 million during the quarter, compared to the consensus estimate of $120.05 million. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.79%. Sell-side analysts anticipate that Peoples Bancorp Inc. will post 3.56 earnings per share for the current fiscal year.
Peoples Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.68 annualized dividend and a yield of 4.0%. Peoples Bancorp's payout ratio is 50.76%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on PEBO shares. Hovde Group raised their target price on Peoples Bancorp from $33.00 to $36.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 22nd. DA Davidson raised their target price on Peoples Bancorp from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Piper Sandler set a $46.00 price target on shares of Peoples Bancorp in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods raised their price objective on Peoples Bancorp from $38.00 to $42.00 and gave the company a "market perform" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Peoples Bancorp in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Peoples Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.
Check Out Our Latest Report on PEBO
Institutional Trading of Peoples Bancorp
Several hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new stake in Peoples Bancorp in the 3rd quarter worth approximately $30,000. Quarry LP purchased a new stake in shares of Peoples Bancorp in the third quarter valued at $35,000. Strs Ohio purchased a new position in shares of Peoples Bancorp during the first quarter valued at approximately $62,000. Nisa Investment Advisors LLC boosted its position in Peoples Bancorp by 19.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,688 shares of the bank's stock valued at $81,000 after buying an additional 445 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Peoples Bancorp by 654.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,100 shares of the bank's stock worth $93,000 after purchasing an additional 2,689 shares during the period. Institutional investors own 60.68% of the company's stock.
About Peoples Bancorp
(
Get Free Report)
Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.
On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.
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