Peoples Bancorp (NASDAQ:PEBO) Reaches New 52-Week High – Should You Buy?

Shares of Peoples Bancorp Inc. (NASDAQ:PEBO) reached a new 52-week high on Monday . The company traded as high as $36.62 and last traded at $36.50, with a volume of 1793 shares changing hands. The stock had previously closed at $35.83.

Wall Street Analyst Weigh In

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

Peoples Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $1.26 billion, a P/E ratio of 10.07 and a beta of 0.74. The business’s 50-day moving average price is $31.84 and its 200-day moving average price is $30.87.

Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Peoples Bancorp had a return on equity of 11.84% and a net margin of 20.16%. The business had revenue of $158.41 million during the quarter, compared to analyst estimates of $112.30 million. During the same quarter in the previous year, the company posted $1.06 earnings per share. As a group, sell-side analysts expect that Peoples Bancorp Inc. will post 3.31 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 4th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Monday, November 4th. Peoples Bancorp’s dividend payout ratio is 45.58%.

Insiders Place Their Bets

In other Peoples Bancorp news, insider Matthew Edgell sold 3,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $34.36, for a total value of $103,080.00. Following the completion of the sale, the insider now owns 16,092 shares in the company, valued at approximately $552,921.12. This represents a 15.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director S Craig Beam sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $34.31, for a total value of $137,240.00. Following the completion of the transaction, the director now owns 23,760 shares in the company, valued at $815,205.60. The trade was a 14.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,445 shares of company stock worth $348,956. Company insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp

A number of institutional investors have recently added to or reduced their stakes in PEBO. nVerses Capital LLC purchased a new position in shares of Peoples Bancorp in the second quarter worth $27,000. FMR LLC increased its holdings in Peoples Bancorp by 42.0% in the 3rd quarter. FMR LLC now owns 1,252 shares of the bank’s stock valued at $38,000 after acquiring an additional 370 shares during the last quarter. Innealta Capital LLC purchased a new stake in Peoples Bancorp in the 2nd quarter worth $46,000. CWM LLC boosted its holdings in shares of Peoples Bancorp by 503.9% during the 3rd quarter. CWM LLC now owns 1,860 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,552 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of Peoples Bancorp by 20,273.3% during the second quarter. Quest Partners LLC now owns 3,056 shares of the bank’s stock valued at $92,000 after purchasing an additional 3,041 shares in the last quarter. 60.68% of the stock is owned by hedge funds and other institutional investors.

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.