Analysts Set Peoples Bancorp Inc. (NASDAQ:PEBO) Target Price at $31.71

Peoples Bancorp Inc. (NASDAQ:PEBO – Get Rating) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $31.71.

Several brokerages have recently weighed in on PEBO. Keefe, Bruyette & Woods reduced their price target on Peoples Bancorp from $32.00 to $31.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. Janney Montgomery Scott began coverage on Peoples Bancorp in a research report on Thursday, April 13th. They issued a “neutral” rating and a $28.00 price target for the company. Finally, StockNews.com began coverage on Peoples Bancorp in a research report on Thursday, May 18th. They issued a “hold” rating for the company.

Insider Buying and Selling

In other Peoples Bancorp news, Director Susan D. Rector bought 2,100 shares of Peoples Bancorp stock in a transaction that occurred on Friday, March 10th. The stock was acquired at an average cost of $28.53 per share, for a total transaction of $59,913.00. Following the completion of the transaction, the director now directly owns 21,101 shares in the company, valued at $602,011.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Susan D. Rector purchased 2,995 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was purchased at an average price of $25.04 per share, with a total value of $74,994.80. Following the completion of the purchase, the director now directly owns 24,096 shares in the company, valued at approximately $603,363.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan D. Rector purchased 2,100 shares of the company’s stock in a transaction on Friday, March 10th. The shares were purchased at an average cost of $28.53 per share, with a total value of $59,913.00. Following the purchase, the director now owns 21,101 shares of the company’s stock, valued at $602,011.53. The disclosure for this purchase can be found here. Insiders acquired a total of 6,195 shares of company stock worth $162,738 over the last ninety days. 2.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peoples Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its stake in shares of Peoples Bancorp by 3.5% in the 4th quarter. D.A. Davidson & CO. now owns 10,458 shares of the bank’s stock valued at $295,000 after acquiring an additional 354 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Peoples Bancorp by 0.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 41,300 shares of the bank’s stock valued at $1,099,000 after acquiring an additional 364 shares during the last quarter. BNP Paribas Arbitrage SNC lifted its stake in shares of Peoples Bancorp by 4.0% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 10,909 shares of the bank’s stock valued at $316,000 after acquiring an additional 415 shares during the last quarter. American International Group Inc. lifted its stake in shares of Peoples Bancorp by 3.4% in the 2nd quarter. American International Group Inc. now owns 13,022 shares of the bank’s stock valued at $346,000 after acquiring an additional 429 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Peoples Bancorp by 4.8% in the 2nd quarter. Legal & General Group Plc now owns 10,396 shares of the bank’s stock valued at $277,000 after acquiring an additional 478 shares during the last quarter. Institutional investors own 49.73% of the company’s stock.

Peoples Bancorp Stock Performance

NASDAQ:PEBO opened at $26.52 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.76 and a quick ratio of 0.76. The business has a fifty day simple moving average of $25.40 and a two-hundred day simple moving average of $27.93. Peoples Bancorp has a 1 year low of $23.05 and a 1 year high of $32.24. The company has a market capitalization of $755.42 million, a P/E ratio of 7.15 and a beta of 0.79.

Peoples Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.88%. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, May 5th. Peoples Bancorp’s payout ratio is presently 42.05%.

About Peoples Bancorp

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Peoples Bancorp, Inc operates as a financial holding company, which engages in banking, investment, insurance, and trust solutions. It offers various demand deposit accounts, savings accounts, money market accounts and certificates of deposit, commercial, consumer, real estate mortgage loans and lines of credit, debit and automated teller machine cards, credit cards for individuals and businesses, merchant credit card transaction processing services, corporate and personal trust services, safe deposit rental facilities, money orders and cashier’s checks, life, health, property and casualty insurance products, brokerage services, and custom-tailored fiduciary, employee benefit plans and asset management & administration services.