Peoples Bancorp (NASDAQ:PEBO) Research Coverage Started at Piper Sandler

Piper Sandler initiated coverage on shares of Peoples Bancorp (NASDAQ:PEBO) in a report issued on Friday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $39.00 target price on the bank’s stock.

Peoples Bancorp Price Performance

Peoples Bancorp stock opened at $29.31 on Friday. The business has a 50 day simple moving average of $30.58 and a 200 day simple moving average of $29.91. Peoples Bancorp has a one year low of $25.04 and a one year high of $34.85. The company has a market capitalization of $1.04 billion, a PE ratio of 8.78 and a beta of 0.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.82.

Peoples Bancorp (NASDAQ:PEBO) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The firm had revenue of $154.47 million for the quarter, compared to analyst estimates of $111.30 million. Peoples Bancorp had a return on equity of 12.76% and a net margin of 20.58%. During the same quarter last year, the business earned $0.83 EPS. On average, sell-side analysts forecast that Peoples Bancorp will post 3.28 EPS for the current fiscal year.

Peoples Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, August 5th. This represents a $1.60 dividend on an annualized basis and a yield of 5.46%. Peoples Bancorp’s dividend payout ratio is 47.90%.

Insider Buying and Selling at Peoples Bancorp

In other news, Director Carol A. Schneeberger sold 1,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $30.33, for a total transaction of $30,330.00. Following the sale, the director now owns 29,963 shares in the company, valued at approximately $908,777.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director David F. Dierker sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $32.07, for a total value of $128,280.00. Following the completion of the sale, the director now owns 13,330 shares of the company’s stock, valued at $427,493.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carol A. Schneeberger sold 1,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $30.33, for a total value of $30,330.00. Following the transaction, the director now directly owns 29,963 shares in the company, valued at approximately $908,777.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,617 shares of company stock worth $209,214. 3.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Peoples Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Peoples Bancorp in the second quarter worth about $27,000. Innealta Capital LLC bought a new position in shares of Peoples Bancorp in the 2nd quarter valued at about $46,000. Quest Partners LLC grew its position in shares of Peoples Bancorp by 20,273.3% during the 2nd quarter. Quest Partners LLC now owns 3,056 shares of the bank’s stock worth $92,000 after buying an additional 3,041 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Peoples Bancorp during the first quarter worth approximately $118,000. Finally, EntryPoint Capital LLC acquired a new position in Peoples Bancorp in the first quarter valued at approximately $129,000. Institutional investors own 60.68% of the company’s stock.

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.