Peoples Bancorp (NASDAQ:PEBO) Receives Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Peoples Bancorp (NASDAQ:PEBO) in a report issued on Wednesday, Benzinga reports. They currently have a $33.00 target price on the bank’s stock, down from their previous target price of $36.00.

PEBO has been the topic of a number of other reports. Hovde Group initiated coverage on shares of Peoples Bancorp in a research report on Monday, April 1st. They set a market perform rating and a $31.00 target price on the stock. StockNews.com downgraded shares of Peoples Bancorp from a hold rating to a sell rating in a research note on Friday, April 19th. Finally, Piper Sandler started coverage on shares of Peoples Bancorp in a research note on Friday, February 23rd. They issued an overweight rating and a $34.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Peoples Bancorp currently has a consensus rating of Hold and a consensus price target of $33.40.

Peoples Bancorp Stock Up 2.9 %

PEBO stock opened at $30.04 on Wednesday. The company’s 50 day simple moving average is $28.25 and its 200-day simple moving average is $29.32. Peoples Bancorp has a 52-week low of $23.05 and a 52-week high of $34.85. 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 firm has a market capitalization of $1.07 billion, a P/E ratio of 8.99 and a beta of 0.76.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.10. Peoples Bancorp had a net margin of 20.17% and a return on equity of 12.93%. The company had revenue of $112.92 million for the quarter, compared to analyst estimates of $115.00 million. As a group, equities research analysts anticipate that Peoples Bancorp will post 3.39 EPS for the current year.

Peoples Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.33%. Peoples Bancorp’s dividend payout ratio is 46.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. increased its stake in Peoples Bancorp by 160.6% in the fourth quarter. Brown Advisory Inc. now owns 552,649 shares of the bank’s stock valued at $18,657,000 after purchasing an additional 340,566 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Peoples Bancorp by 13.3% in the 4th quarter. Franklin Resources Inc. now owns 1,815,196 shares of the bank’s stock valued at $61,281,000 after buying an additional 213,264 shares during the period. River Oaks Capital LLC increased its position in shares of Peoples Bancorp by 366.0% in the 3rd quarter. River Oaks Capital LLC now owns 109,500 shares of the bank’s stock valued at $2,779,000 after buying an additional 86,000 shares in the last quarter. Federated Hermes Inc. raised its stake in Peoples Bancorp by 220.5% during the 4th quarter. Federated Hermes Inc. now owns 76,995 shares of the bank’s stock worth $2,599,000 after buying an additional 52,972 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Peoples Bancorp by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,412,411 shares of the bank’s stock worth $81,444,000 after acquiring an additional 51,087 shares in the last quarter. Institutional investors 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.