Key Points
- Director insider buying: Dwight Smith purchased 300 Peoples Bancorp shares at $38.66 each, investing $11,598 and increasing his direct holdings by 2.93% to 10,556 shares.
- Solid quarterly results: Peoples Bancorp reported earnings of $1.04 per share, exceeding estimates of $0.93, while revenue of $124.52 million also topped expectations.
- Dividend and analyst outlook: The company declared a quarterly dividend of $0.42 per share, representing a 4.4% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $42.
Peoples Bancorp Inc. (NASDAQ:PEBO - Get Free Report) Director Dwight Smith acquired 300 shares of the business's stock in a transaction on Monday, October 26th. The stock was acquired at an average price of $38.66 per share, with a total value of $11,598.00. Following the transaction, the director directly owned 10,556 shares of the company's stock, valued at $408,094.96. This represents a 2.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Peoples Bancorp Stock Performance
Shares of NASDAQ PEBO opened at $38.44 on Wednesday. Peoples Bancorp Inc. has a one year low of $28.01 and a one year high of $42.29. The company's fifty day moving average is $38.51 and its two-hundred day moving average is $35.93.
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 analysts' consensus estimates of $0.93 by $0.11. The company had revenue of $124.52 million for the quarter, compared to analyst estimates of $123.40 million. On average, equities analysts predict that Peoples Bancorp Inc. will post 3.74 earnings per share for the current fiscal year.
Peoples Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 4.4%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Peoples Bancorp during the 2nd quarter worth $33,000. Allworth Financial LP purchased a new stake in shares of Peoples Bancorp in the 2nd quarter worth about $50,000. Deutsche Bank AG acquired a new stake in Peoples Bancorp in the 2nd quarter valued at about $190,000. PNC Financial Services Group Inc. grew its stake 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 acquiring an additional 1,301 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Peoples Bancorp in the 2nd quarter valued at about $201,000. Hedge funds and other institutional investors own 60.68% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on PEBO shares. DA Davidson lowered their target price on shares of Peoples Bancorp from $44.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, October 1st. Zacks Research upgraded shares of Peoples Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Peoples Bancorp in a research report on Wednesday, August 26th. Piper Sandler boosted their price target on Peoples Bancorp from $46.00 to $48.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating on shares of Peoples Bancorp in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $42.00.
Get Our Latest Stock Analysis on PEBO
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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