Peoples Bancorp (NASDAQ:PEBO) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Peoples Bancorp Inc. (NASDAQ:PEBO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.98 and traded as high as $31.10. Peoples Bancorp shares last traded at $30.75, with a volume of 177,109 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of Peoples Bancorp from $36.00 to $33.50 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Zacks Research upgraded shares of Peoples Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. DA Davidson initiated coverage on shares of Peoples Bancorp in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $33.00 price objective on the stock. Wall Street Zen raised shares of Peoples Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Peoples Bancorp in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Peoples Bancorp has a consensus rating of “Hold” and an average price target of $33.13.

Peoples Bancorp Price Performance

The company’s 50 day simple moving average is $29.68 and its 200 day simple moving average is $29.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $1.09 billion, a P/E ratio of 10.72 and a beta of 0.67.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings results on Tuesday, October 21st. The bank reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. Peoples Bancorp had a net margin of 16.57% and a return on equity of 9.35%. The company had revenue of $118.51 million for the quarter, compared to analysts’ expectations of $116.88 million. As a group, equities analysts forecast that Peoples Bancorp Inc. will post 3.28 earnings per share for the current year.

Peoples Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Tuesday, November 4th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, November 4th. Peoples Bancorp’s payout ratio is presently 57.34%.

Insiders Place Their Bets

In other Peoples Bancorp news, Director Kevin R. Reeves purchased 1,250 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were bought at an average price of $29.11 per share, with a total value of $36,387.50. Following the completion of the transaction, the director directly owned 13,055 shares in the company, valued at $380,031.05. This trade represents a 10.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carol A. Schneeberger sold 1,000 shares of Peoples Bancorp stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $30.22, for a total value of $30,220.00. Following the transaction, the director owned 23,767 shares in the company, valued at $718,238.74. This trade represents a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders acquired 4,110 shares of company stock worth $118,832 over the last ninety days. 3.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peoples Bancorp

Large investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of Peoples Bancorp by 2.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank’s stock valued at $508,000 after purchasing an additional 400 shares during the last quarter. Shoker Investment Counsel Inc. increased its stake in Peoples Bancorp by 1.4% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 29,449 shares of the bank’s stock valued at $883,000 after buying an additional 405 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Peoples Bancorp by 1.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 27,110 shares of the bank’s stock worth $828,000 after buying an additional 410 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in Peoples Bancorp by 3.9% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 11,034 shares of the bank’s stock worth $337,000 after buying an additional 418 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Peoples Bancorp by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 22,906 shares of the bank’s stock worth $700,000 after buying an additional 418 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.

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.