Peoples Bancorp (NASDAQ:PEBO) Reaches New 12-Month High – Time to Buy?

Peoples Bancorp Inc. (NASDAQ:PEBO)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $35.50 and last traded at $35.5150, with a volume of 9331 shares trading hands. The stock had previously closed at $35.14.

Analysts Set New Price Targets

A number of analysts have weighed in on PEBO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp in a research report on Friday, May 29th. DA Davidson upped their price target on Peoples Bancorp from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Hovde Group increased their price target on Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, April 22nd. Finally, Piper Sandler lifted their price objective on shares of Peoples Bancorp from $37.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Peoples Bancorp Price Performance

The stock has a fifty day simple moving average of $34.04 and a two-hundred day simple moving average of $32.42. The company has a market cap of $1.27 billion, a PE ratio of 11.36 and a beta of 0.62. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15.

Peoples Bancorp (NASDAQ:PEBO) last issued its earnings results on Tuesday, April 21st. The bank reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $119.33 million during the quarter, compared to the consensus estimate of $118.72 million. Peoples Bancorp had a return on equity of 9.75% and a net margin of 17.92%. On average, equities analysts predict that Peoples Bancorp Inc. will post 3.41 EPS for the current fiscal year.

Peoples Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, May 4th. This is an increase from Peoples Bancorp’s previous quarterly dividend of $0.41. Peoples Bancorp’s payout ratio is presently 53.85%.

Insiders Place Their Bets

In other Peoples Bancorp news, Director Carol A. Schneeberger sold 1,895 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $31.37, for a total transaction of $59,446.15. Following the transaction, the director directly owned 19,309 shares in the company, valued at approximately $605,723.33. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dwight Eric Smith bought 1,000 shares of the company’s stock in a transaction on Monday, April 27th. The stock was bought at an average cost of $34.51 per share, with a total value of $34,510.00. Following the completion of the acquisition, the director owned 9,256 shares of the company’s stock, valued at $319,424.56. This represents a 12.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.31% of the company’s stock.

Institutional Trading of Peoples Bancorp

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Peoples Bancorp by 4.9% in the first quarter. Royal Bank of Canada now owns 23,996 shares of the bank’s stock valued at $711,000 after purchasing an additional 1,111 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Peoples Bancorp by 46.5% in the 1st quarter. AQR Capital Management LLC now owns 101,653 shares of the bank’s stock worth $3,015,000 after buying an additional 32,259 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Peoples Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,544 shares of the bank’s stock valued at $609,000 after acquiring an additional 862 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Peoples Bancorp by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,290 shares of the bank’s stock valued at $2,441,000 after acquiring an additional 5,175 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Peoples Bancorp by 87.2% during the 1st quarter. Jane Street Group LLC now owns 64,668 shares of the bank’s stock valued at $1,918,000 after acquiring an additional 30,121 shares in the last quarter. 60.68% of the stock is currently owned by hedge funds and other institutional investors.

About Peoples Bancorp

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.