Peoples Bancorp (NASDAQ:PEBO) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Peoples Bancorp (NASDAQ:PEBO) posted its earnings results on Tuesday. The bank reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11, FiscalAI reports. The firm had revenue of $124.52 million during the quarter, compared to analyst estimates of $123.40 million. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%.

Peoples Bancorp Stock Down 0.7%

PEBO stock opened at $36.47 on Tuesday. The stock has a market cap of $1.31 billion, a P/E ratio of 11.02 and a beta of 0.62. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $38.87 and its two-hundred day simple moving average is $37.31. Peoples Bancorp has a 1-year low of $28.01 and a 1-year high of $42.29.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEBO. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Bancorp in a research report on Wednesday, August 26th. Piper Sandler set a $42.00 price objective on shares of Peoples Bancorp in a research report on Monday, October 5th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Peoples Bancorp in a research report on Monday, October 5th. DA Davidson decreased their price objective on shares of Peoples Bancorp from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Finally, Zacks Research raised shares of Peoples Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.50.

Insider Buying and Selling at Peoples Bancorp

In related news, Director Dwight Smith bought 1,000 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were purchased at an average cost of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the purchase, the director directly owned 10,256 shares in the company, valued at $408,291.36. The trade was a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew Edgell sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.27, for a total transaction of $123,810.00. Following the transaction, the insider directly owned 20,183 shares of the company’s stock, valued at $832,952.41. This represents a 12.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.31% of the company’s stock.

Peoples Bancorp Company Profile

Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Peoples Bank offers consumer and commercial deposit accounts, residential and commercial real estate loans, consumer lending, mortgage services, treasury management and other business financing solutions. The company also provides wealth management, trust, investment and insurance services through affiliated or related operations.

Founded in 1902, Peoples Bancorp serves communities primarily in Ohio, West Virginia, Kentucky and Virginia through a network of banking offices and digital banking channels.