Peoples Bancorp (NASDAQ:PEBO) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $39.00 price objective on the bank’s stock.
According to Zacks, “Peoples Bancorp Inc. is a bank holding company. “
A number of other equities research analysts have also recently commented on PEBO. DA Davidson upgraded Peoples Bancorp from a neutral rating to a buy rating and raised their target price for the company from $35.00 to $40.00 in a research report on Friday, January 10th. BidaskClub cut Peoples Bancorp from a hold rating to a sell rating in a research report on Wednesday, January 8th. Finally, ValuEngine cut Peoples Bancorp from a hold rating to a sell rating in a research report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Peoples Bancorp presently has a consensus rating of Hold and an average target price of $39.50.
Peoples Bancorp (NASDAQ:PEBO) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. Peoples Bancorp had a return on equity of 10.71% and a net margin of 22.91%. The business had revenue of $52.15 million during the quarter, compared to analyst estimates of $51.98 million. As a group, research analysts expect that Peoples Bancorp will post 2.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Friday, January 31st. Peoples Bancorp’s dividend payout ratio (DPR) is presently 46.42%.
In related news, CEO Charles W. Sulerzyski sold 5,649 shares of Peoples Bancorp stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $32.70, for a total value of $184,722.30. Following the sale, the chief executive officer now directly owns 48,524 shares in the company, valued at approximately $1,586,734.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John C. Rogers sold 1,080 shares of Peoples Bancorp stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.76, for a total value of $35,380.80. Insiders have sold a total of 15,106 shares of company stock worth $495,312 over the last 90 days. Insiders own 2.89% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Peoples Bancorp by 110.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 875 shares of the bank’s stock worth $30,000 after purchasing an additional 460 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Peoples Bancorp during the 2nd quarter worth approximately $234,000. Zebra Capital Management LLC boosted its holdings in shares of Peoples Bancorp by 44.2% during the 3rd quarter. Zebra Capital Management LLC now owns 12,849 shares of the bank’s stock worth $409,000 after purchasing an additional 3,941 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Peoples Bancorp by 7.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 14,254 shares of the bank’s stock worth $460,000 after purchasing an additional 962 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Peoples Bancorp by 31.9% during the 3rd quarter. Squarepoint Ops LLC now owns 15,821 shares of the bank’s stock worth $503,000 after purchasing an additional 3,827 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.
Peoples Bancorp Company Profile
Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and retail banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and provides commercial real estate construction loans, other commercial real estate loans, commercial and industrial loans, residential real estate loans, home equity lines of credit, and indirect and other consumer loans.
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