Peoples Bancorp (NASDAQ:PEBO) Lifted to Hold at StockNews.com

Peoples Bancorp (NASDAQ:PEBO) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other analysts also recently commented on PEBO. Hovde Group started coverage on Peoples Bancorp in a research note on Monday, April 1st. They set a “market perform” rating and a $31.00 target price on the stock. Stephens reiterated an “equal weight” rating and set a $34.00 target price on shares of Peoples Bancorp in a research note on Wednesday. Piper Sandler started coverage on Peoples Bancorp in a research note on Friday, February 23rd. They set an “overweight” rating and a $34.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $33.00 target price (down from $36.00) on shares of Peoples Bancorp in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Peoples Bancorp has a consensus rating of “Hold” and an average price target of $33.40.

Peoples Bancorp Stock Performance

Peoples Bancorp stock opened at $29.76 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.06 billion, a P/E ratio of 8.91 and a beta of 0.76. The stock’s 50 day moving average is $28.33 and its 200 day moving average is $29.36. Peoples Bancorp has a twelve month low of $23.05 and a twelve month high of $34.85.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.10. The company had revenue of $112.92 million for the quarter, compared to the consensus estimate of $115.00 million. Peoples Bancorp had a return on equity of 12.93% and a net margin of 20.17%. On average, equities research analysts predict that Peoples Bancorp will post 3.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Peoples Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of Peoples Bancorp by 3.7% during the 4th quarter. Arizona State Retirement System now owns 9,393 shares of the bank’s stock valued at $317,000 after buying an additional 333 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Peoples Bancorp by 1.6% during the 3rd quarter. Federated Hermes Inc. now owns 24,023 shares of the bank’s stock valued at $610,000 after buying an additional 382 shares during the period. Shoker Investment Counsel Inc. lifted its holdings in shares of Peoples Bancorp by 1.3% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 29,724 shares of the bank’s stock valued at $754,000 after buying an additional 385 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Peoples Bancorp by 3.7% during the 4th quarter. D.A. Davidson & CO. now owns 11,988 shares of the bank’s stock valued at $405,000 after buying an additional 433 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Peoples Bancorp by 5.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,998 shares of the bank’s stock valued at $305,000 after buying an additional 590 shares during the period. 60.68% of the stock is owned by institutional investors.

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.