Peoples Bancorp (NASDAQ:PEBO) Given New $36.00 Price Target at Piper Sandler

Peoples Bancorp (NASDAQ:PEBO) had its price objective trimmed by Piper Sandler from $39.00 to $36.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

Peoples Bancorp Price Performance

Shares of Peoples Bancorp stock opened at $30.38 on Wednesday. Peoples Bancorp has a 52 week low of $25.58 and a 52 week high of $34.85. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.08 billion, a PE ratio of 9.10 and a beta of 0.75. The company’s 50-day moving average price is $30.61 and its two-hundred day moving average price is $30.13.

Peoples Bancorp (NASDAQ:PEBO) last released 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 for 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 12.01%. During the same period in the previous year, the firm earned $1.06 EPS. As a group, sell-side analysts anticipate that Peoples Bancorp will post 3.29 EPS for the current fiscal year.

Peoples Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend is Monday, November 4th. Peoples Bancorp’s dividend payout ratio is presently 47.90%.

Insider Activity

In related news, Director David F. Dierker sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $30.36, for a total value of $30,360.00. Following the completion of the transaction, the director now owns 10,330 shares of the company’s stock, valued at approximately $313,618.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 2,541 shares of company stock worth $77,406 over the last 90 days. 3.46% of the stock is owned by company insiders.

Institutional Trading of Peoples Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its stake in Peoples Bancorp by 3.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,043 shares of the bank’s stock worth $362,000 after acquiring an additional 381 shares in the last quarter. nVerses Capital LLC increased its holdings in shares of Peoples Bancorp by 322.2% in the 3rd quarter. nVerses Capital LLC now owns 3,800 shares of the bank’s stock valued at $114,000 after purchasing an additional 2,900 shares during the period. Creative Planning lifted its position in shares of Peoples Bancorp by 36.4% in the third quarter. Creative Planning now owns 32,185 shares of the bank’s stock worth $968,000 after purchasing an additional 8,594 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Peoples Bancorp by 16.0% during the third quarter. Inspire Investing LLC now owns 13,718 shares of the bank’s stock worth $413,000 after purchasing an additional 1,890 shares during the period. Finally, CWM LLC grew its position in Peoples Bancorp by 503.9% during the third quarter. CWM LLC now owns 1,860 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,552 shares in the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.

Peoples Bancorp Company Profile

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.