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

Peoples Bancorp Inc. (NASDAQ:PEBO)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $34.49 and last traded at $34.3130, with a volume of 66629 shares. The stock had previously closed at $33.66.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings raised Peoples Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. DA Davidson set a $35.00 price objective on Peoples Bancorp in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.63.

Peoples Bancorp Stock Up 1.6%

The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.25 billion, a PE ratio of 11.60 and a beta of 0.64. The stock has a 50-day moving average of $32.83 and a 200 day moving average of $31.05.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results on Tuesday, January 20th. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The company had revenue of $119.57 million during the quarter, compared to the consensus estimate of $117.97 million. Peoples Bancorp had a return on equity of 9.51% and a net margin of 17.27%. Sell-side analysts anticipate that Peoples Bancorp Inc. will post 3.28 EPS for the current year.

Peoples Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, February 2nd. Peoples Bancorp’s dividend payout ratio is 54.85%.

Insider Buying and Selling at Peoples Bancorp

In other news, EVP Michael Ryan Kirkham sold 986 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $32.47, for a total value of $32,015.42. Following the completion of the transaction, the executive vice president directly owned 16,289 shares of the company’s stock, valued at $528,903.83. This trade represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carol A. Schneeberger sold 1,895 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $31.37, for a total value of $59,446.15. Following the completion of the transaction, the director directly owned 19,309 shares of the company’s stock, valued at $605,723.33. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 4,881 shares of company stock valued at $156,792. 3.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peoples Bancorp

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC purchased a new stake in Peoples Bancorp during the third quarter valued at about $30,000. Quarry LP purchased a new stake in Peoples Bancorp during the third quarter valued at about $35,000. State of Alaska Department of Revenue purchased a new stake in Peoples Bancorp during the third quarter valued at about $42,000. Strs Ohio purchased a new stake in Peoples Bancorp during the first quarter valued at about $62,000. Finally, Accredited Wealth Management LLC raised its position in Peoples Bancorp by 524.0% during the third quarter. Accredited Wealth Management LLC now owns 2,184 shares of the bank’s stock valued at $65,000 after purchasing an additional 1,834 shares in the last quarter. Institutional investors own 60.68% of the company’s stock.

About Peoples Bancorp

Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.

On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.