Peoples Bancorp Inc. (NASDAQ:PEBO) Downgraded to Strong Sell at BidaskClub
BidaskClub cut shares of Peoples Bancorp Inc. (NASDAQ:PEBO) from a sell rating to a strong sell rating in a research note released on Friday.
A number of other brokerages have also recently commented on PEBO. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $31.00 target price on shares of Peoples Bancorp in a report on Monday, April 10th. Zacks Investment Research cut Peoples Bancorp from a buy rating to a hold rating in a report on Wednesday, June 28th. Boenning Scattergood reaffirmed a hold rating on shares of Peoples Bancorp in a report on Wednesday, July 26th. Finally, ValuEngine raised Peoples Bancorp from a hold rating to a buy rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $34.33.
Shares of Peoples Bancorp (PEBO) remained flat at $32.60 during trading on Friday. 8,264 shares of the company’s stock traded hands. Peoples Bancorp has a 1-year low of $21.71 and a 1-year high of $35.43. The stock has a 50-day moving average price of $32.34 and a 200-day moving average price of $32.12. The stock has a market capitalization of $587.32 million, a price-to-earnings ratio of 17.62 and a beta of 0.76.
Peoples Bancorp (NASDAQ:PEBO) last announced its earnings results on Tuesday, July 25th. The bank reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.07. Peoples Bancorp had a return on equity of 7.63% and a net margin of 19.67%. The company had revenue of $41.68 million for the quarter, compared to analysts’ expectations of $40.81 million. On average, equities research analysts predict that Peoples Bancorp will post $2.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Friday, August 4th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.20. Peoples Bancorp’s dividend payout ratio is presently 43.24%.
In other Peoples Bancorp news, Director Terry Thomas Sweet purchased 1,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was acquired at an average price of $31.18 per share, for a total transaction of $31,180.00. Following the purchase, the director now owns 2,427 shares of the company’s stock, valued at approximately $75,673.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.04% of the company’s stock.
A number of large investors have recently modified their holdings of PEBO. Parametric Portfolio Associates LLC boosted its position in shares of Peoples Bancorp by 1.3% in the first quarter. Parametric Portfolio Associates LLC now owns 15,961 shares of the bank’s stock valued at $505,000 after buying an additional 210 shares during the period. American International Group Inc. boosted its position in shares of Peoples Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 9,897 shares of the bank’s stock valued at $313,000 after buying an additional 659 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Peoples Bancorp by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 13,378 shares of the bank’s stock valued at $423,000 after buying an additional 834 shares during the period. California Public Employees Retirement System boosted its position in shares of Peoples Bancorp by 1.8% in the first quarter. California Public Employees Retirement System now owns 56,100 shares of the bank’s stock valued at $1,776,000 after buying an additional 1,000 shares during the period. Finally, Investment Partners Ltd. OH ADV boosted its position in shares of Peoples Bancorp by 25.0% in the second quarter. Investment Partners Ltd. OH ADV now owns 9,985 shares of the bank’s stock valued at $321,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.
About Peoples Bancorp
Peoples Bancorp Inc is a financial holding company. The Company operates principally through its subsidiary, Peoples Bank. Peoples Bank’s operating subsidiaries include Peoples Insurance Agency, LLC (Peoples Insurance) and two asset management companies, PBNA, LLC. and Peoples Tax Credit Equity, LLC.
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