Peoples Bancorp (NASDAQ:PEBO) Hits New 52-Week High on Insider Buying Activity

Peoples Bancorp Inc. (NASDAQ:PEBO)’s share price hit a new 52-week high during trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $40.85 and last traded at $40.66, with a volume of 349041 shares changing hands. The stock had previously closed at $40.31.

Specifically, Director Dwight Eric Smith acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was bought at an average cost of $39.81 per share, with a total value of $39,810.00. Following the acquisition, the director owned 10,256 shares in the company, valued at approximately $408,291.36. This represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Piper Sandler set a $46.00 price target on Peoples Bancorp in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their price objective on Peoples Bancorp from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Hovde Group increased their price objective on Peoples Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp in a report on Friday, May 29th. Finally, DA Davidson upped their price target on Peoples Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Peoples Bancorp Price Performance

The business’s fifty day moving average price is $37.35 and its 200-day moving average price is $34.51. The company has a market capitalization of $1.51 billion, a P/E ratio of 12.69 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 released its earnings results on Tuesday, July 21st. The bank reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.11. Peoples Bancorp had a return on equity of 10.79% and a net margin of 19.17%.The business had revenue of $121.95 million for the quarter, compared to analysts’ expectations of $120.05 million. As a group, sell-side analysts predict that Peoples Bancorp Inc. will post 3.56 earnings per share for the current fiscal year.

Peoples Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be given a dividend of $0.42 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.68 annualized dividend and a dividend yield of 4.0%. Peoples Bancorp’s dividend payout ratio is 50.76%.

Hedge Funds Weigh In On Peoples Bancorp

Large investors have recently modified their holdings of the company. D.A. Davidson & CO. lifted its position in Peoples Bancorp by 1.3% in the 1st quarter. D.A. Davidson & CO. now owns 24,366 shares of the bank’s stock worth $801,000 after buying an additional 320 shares during the last quarter. Cetera Investment Advisers boosted its stake in Peoples Bancorp by 1.6% in the fourth quarter. Cetera Investment Advisers now owns 24,348 shares of the bank’s stock worth $731,000 after buying an additional 385 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Peoples Bancorp by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 16,600 shares of the bank’s stock valued at $508,000 after acquiring an additional 400 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Peoples Bancorp by 1.2% during the fourth quarter. Pathway Financial Advisers LLC now owns 35,520 shares of the bank’s stock valued at $1,067,000 after acquiring an additional 414 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Peoples Bancorp by 2.8% during the fourth quarter. Inspire Investing LLC now owns 15,582 shares of the bank’s stock worth $468,000 after acquiring an additional 420 shares in the last quarter. 60.68% of the stock is 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.