Keefe, Bruyette & Woods Raises Peoples Bancorp (NASDAQ:PEBO) Price Target to $36.00

Peoples Bancorp (NASDAQ:PEBO) had its price target increased by analysts at Keefe, Bruyette & Woods from $32.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 3.57% from the company’s previous close.

Separately, Piper Sandler reduced their target price on shares of Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.25.

Peoples Bancorp Stock Down 0.1 %

Peoples Bancorp stock traded down $0.04 during trading hours on Wednesday, reaching $34.76. The stock had a trading volume of 24,680 shares, compared to its average volume of 125,836. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 9.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50 day moving average price is $32.35 and its 200-day moving average price is $31.06. Peoples Bancorp has a 52 week low of $26.74 and a 52 week high of $37.07.

Peoples Bancorp (NASDAQ:PEBO) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The business had revenue of $158.41 million during the quarter, compared to the consensus estimate of $112.30 million. Peoples Bancorp had a net margin of 20.16% and a return on equity of 11.84%. During the same period in the previous year, the company posted $1.06 earnings per share. Sell-side analysts anticipate that Peoples Bancorp will post 3.31 EPS for the current year.

Insider Activity at Peoples Bancorp

In other Peoples Bancorp news, Director David F. Dierker sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $35.36, for a total value of $70,720.00. Following the sale, the director now owns 1,214 shares in the company, valued at approximately $42,927.04. This represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carol A. Schneeberger sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $30.33, for a total value of $30,330.00. Following the completion of the sale, the director now owns 29,963 shares in the company, valued at approximately $908,777.79. This represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,445 shares of company stock worth $419,676 over the last quarter. Insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Peoples Bancorp by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,465,385 shares of the bank’s stock valued at $73,960,000 after purchasing an additional 6,712 shares during the last quarter. Vanguard Group Inc. raised its stake in Peoples Bancorp by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,904,357 shares of the bank’s stock valued at $56,388,000 after purchasing an additional 18,272 shares during the last quarter. State Street Corp raised its stake in Peoples Bancorp by 1.4% in the 3rd quarter. State Street Corp now owns 1,027,413 shares of the bank’s stock valued at $30,915,000 after purchasing an additional 14,426 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Peoples Bancorp by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 850,654 shares of the bank’s stock worth $25,601,000 after acquiring an additional 22,285 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Peoples Bancorp by 26.7% in the 2nd quarter. American Century Companies Inc. now owns 586,015 shares of the bank’s stock worth $17,580,000 after acquiring an additional 123,423 shares during the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

About Peoples Bancorp

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; and provides commercial and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.