Peoples Bancorp’s (PEBO) “Equal Weight” Rating Reiterated at Stephens

Stephens reiterated their equal weight rating on shares of Peoples Bancorp (NASDAQ:PEBO) in a research note published on Wednesday morning, Benzinga reports. They currently have a $34.00 target price on the bank’s stock.

A number of other research analysts have also recently weighed in on the company. Piper Sandler initiated coverage on Peoples Bancorp in a research report on Friday, February 23rd. They set an overweight rating and a $34.00 price objective on the stock. Hovde Group began coverage on Peoples Bancorp in a research report on Monday, April 1st. They set a market perform rating and a $31.00 price objective on the stock. StockNews.com cut Peoples Bancorp from a hold rating to a sell rating in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reissued a market perform rating and issued a $33.00 price target (down from $36.00) on shares of Peoples Bancorp in a report on Wednesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $33.40.

Peoples Bancorp Stock Down 1.5 %

PEBO stock opened at $29.76 on Wednesday. Peoples Bancorp has a twelve month low of $23.05 and a twelve month high of $34.85. 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 stock has a market cap of $1.06 billion, a P/E ratio of 8.91 and a beta of 0.76. The business’s 50-day moving average price is $28.33 and its 200-day moving average price is $29.38.

Peoples Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 5.38%. Peoples Bancorp’s payout ratio is currently 46.71%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEBO. Sapient Capital LLC purchased a new stake in shares of Peoples Bancorp during the 4th quarter worth approximately $226,000. Alps Advisors Inc. raised its holdings in shares of Peoples Bancorp by 17.8% during the 3rd quarter. Alps Advisors Inc. now owns 13,294 shares of the bank’s stock worth $337,000 after acquiring an additional 2,009 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Peoples Bancorp by 15.0% during the 3rd quarter. American Century Companies Inc. now owns 273,435 shares of the bank’s stock worth $6,940,000 after acquiring an additional 35,603 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Peoples Bancorp by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,733,426 shares of the bank’s stock worth $43,994,000 after acquiring an additional 12,449 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Peoples Bancorp by 48.4% during the 3rd quarter. Principal Financial Group Inc. now owns 11,632 shares of the bank’s stock worth $295,000 after acquiring an additional 3,796 shares in the last quarter. 60.68% of the stock is owned by hedge funds and other institutional investors.

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.