Peoples Bancorp (NASDAQ:PEBO) Price Target Cut to $40.00 by Analysts at DA Davidson

Peoples Bancorp (NASDAQ:PEBO) had its price target cut by DA Davidson from $42.00 to $40.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the bank’s stock.

PEBO has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their target price on shares of Peoples Bancorp from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reduced their target price on shares of 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Peoples Bancorp has a consensus rating of “Hold” and an average target price of $36.90.

Peoples Bancorp Price Performance

Shares of NASDAQ PEBO opened at $32.20 on Wednesday. The firm has a market cap of $1.14 billion, a PE ratio of 9.17 and a beta of 0.79. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.21. Peoples Bancorp has a 1-year low of $26.74 and a 1-year high of $37.07. The company has a fifty day moving average price of $33.25 and a 200 day moving average price of $31.92.

Peoples Bancorp (NASDAQ:PEBO) last announced its earnings results on Tuesday, January 21st. The bank reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. Peoples Bancorp had a net margin of 20.16% and a return on equity of 11.84%. During the same period last year, the firm posted $1.04 earnings per share. Research analysts predict that Peoples Bancorp will post 3.31 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.60 annualized dividend and a yield of 4.97%. Peoples Bancorp’s dividend payout ratio (DPR) is presently 45.58%.

Insiders Place Their Bets

In other news, Director S Craig Beam sold 4,000 shares of the company’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 sale, the director now directly owns 23,760 shares of the company’s stock, valued at approximately $815,205.60. This represents a 14.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol A. Schneeberger sold 1,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $34.13, for a total transaction of $34,130.00. Following the completion of the sale, the director now directly owns 29,322 shares in the company, valued at approximately $1,000,759.86. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $411,010 in the last three months. 3.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Peoples Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of PEBO. Dimensional Fund Advisors LP raised its holdings in shares of Peoples Bancorp by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,465,385 shares of the bank’s stock valued at $73,960,000 after purchasing an additional 6,712 shares during the period. AQR Capital Management LLC raised its holdings in Peoples Bancorp by 158.5% in the 2nd quarter. AQR Capital Management LLC now owns 57,631 shares of the bank’s stock valued at $1,729,000 after acquiring an additional 35,333 shares during the period. Creative Planning lifted its position in Peoples Bancorp by 38.4% during the second quarter. Creative Planning now owns 23,591 shares of the bank’s stock worth $708,000 after acquiring an additional 6,542 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Peoples Bancorp during the third quarter worth approximately $250,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Peoples Bancorp during the third quarter worth approximately $123,000. 60.68% of the stock is owned by 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.