Peoples Bancorp (NASDAQ:PEBO) Hits New 52-Week High – Here’s Why

Shares of Peoples Bancorp Inc. (NASDAQ:PEBO) reached a new 52-week high during trading on Wednesday . The company traded as high as $34.86 and last traded at $34.63, with a volume of 102527 shares trading hands. The stock had previously closed at $31.00.

Analyst Ratings Changes

Separately, Piper Sandler lowered their target price on Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.50.

Peoples Bancorp Stock Up 14.1 %

The firm has a 50-day moving average of $30.64 and a two-hundred day moving average of $30.33. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.26 billion, a PE ratio of 10.08 and a beta of 0.74.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The business had revenue of $158.41 million during the quarter, compared to analysts’ expectations of $112.30 million. Peoples Bancorp had a return on equity of 11.84% and a net margin of 20.16%. During the same period in the prior year, the business posted $1.06 EPS. Equities research analysts predict that Peoples Bancorp Inc. will post 3.31 earnings per share for the current fiscal year.

Peoples Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.60 annualized dividend and a yield of 4.52%. Peoples Bancorp’s dividend payout ratio (DPR) is presently 45.58%.

Insider Buying and Selling

In other Peoples Bancorp news, Director David F. Dierker sold 1,000 shares of Peoples Bancorp stock in a transaction dated 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 transaction, the director now directly owns 10,330 shares of the company’s stock, valued at $313,618.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 2,541 shares of company stock valued at $77,406. Corporate insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in Peoples Bancorp by 126.0% in the 1st 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 in the last quarter. Empowered Funds LLC lifted its stake in Peoples Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 134,697 shares of the bank’s stock worth $3,988,000 after acquiring an additional 10,150 shares during the last quarter. ProShare Advisors LLC grew its holdings in Peoples Bancorp by 8.2% during the 1st quarter. ProShare Advisors LLC now owns 272,372 shares of the bank’s stock worth $8,065,000 after acquiring an additional 20,732 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Peoples Bancorp by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,904,357 shares of the bank’s stock valued at $56,388,000 after purchasing an additional 18,272 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Peoples Bancorp in the 1st quarter valued at approximately $129,000. 60.68% of the stock is owned by institutional investors and hedge funds.

Peoples Bancorp Company Profile

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.