Peoples Bancorp (NASDAQ:PEBO) Issues Earnings Results, Beats Estimates By $0.12 EPS

Peoples Bancorp (NASDAQ:PEBO) announced its quarterly earnings results on Tuesday. The bank reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.12, FiscalAI reports. Peoples Bancorp had a net margin of 17.92% and a return on equity of 9.75%. The company had revenue of $121.95 million during the quarter, compared to the consensus estimate of $120.05 million.

Peoples Bancorp Price Performance

NASDAQ PEBO opened at $39.59 on Tuesday. The stock has a market capitalization of $1.42 billion, a P/E ratio of 12.66 and a beta of 0.62. Peoples Bancorp has a 1 year low of $27.49 and a 1 year high of $40.50. The business’s fifty day moving average is $36.35 and its two-hundred day moving average is $34.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.84.

Insider Buying and Selling at Peoples Bancorp

In related news, Director Dwight Eric Smith acquired 1,000 shares of Peoples Bancorp stock in a transaction dated Monday, April 27th. The stock was acquired at an average cost of $34.51 per share, with a total value of $34,510.00. Following the purchase, the director directly owned 9,256 shares in the company, valued at $319,424.56. The trade was a 12.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peoples Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new stake in Peoples Bancorp during the third quarter valued at about $30,000. Quarry LP acquired a new stake in shares of Peoples Bancorp during the third quarter valued at approximately $35,000. Strs Ohio purchased a new stake in shares of Peoples Bancorp in the 1st quarter valued at approximately $62,000. Russell Investments Group Ltd. lifted its position in shares of Peoples Bancorp by 654.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,100 shares of the bank’s stock valued at $93,000 after acquiring an additional 2,689 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Peoples Bancorp by 1,191.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,718 shares of the bank’s stock worth $114,000 after purchasing an additional 3,430 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PEBO shares. Piper Sandler raised their price target on shares of Peoples Bancorp from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a research note on Friday, May 29th. Hovde Group raised their target price on shares of Peoples Bancorp from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, April 22nd. Finally, DA Davidson boosted their target price on Peoples Bancorp from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Peoples Bancorp Company Profile

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.