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

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

PEBO has been the topic of a number of other research reports. StockNews.com lowered shares of Peoples Bancorp from a hold rating to a sell rating in a research report on Friday, April 19th. Hovde Group started coverage on shares of Peoples Bancorp in a research report on Monday, April 1st. They issued a market perform rating and a $31.00 price objective on the stock. Finally, Piper Sandler started coverage on shares of Peoples Bancorp in a research report on Friday, February 23rd. They issued an overweight rating and a $34.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $33.40.

Peoples Bancorp Stock Performance

Shares of PEBO stock opened at $29.76 on Wednesday. The company’s fifty day simple moving average is $28.33 and its 200-day simple moving average is $29.38. 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 firm has a market cap of $1.06 billion, a PE ratio of 8.91 and a beta of 0.76. Peoples Bancorp has a 12 month low of $23.05 and a 12 month high of $34.85.

Peoples Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 6th will be given a dividend of $0.40 per share. This is a positive change from Peoples Bancorp’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 5.38%. The ex-dividend date is Friday, May 3rd. Peoples Bancorp’s dividend payout ratio is 46.71%.

Institutional Trading of Peoples Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AJOVista LLC bought a new stake in Peoples Bancorp during the fourth quarter worth $36,000. Allspring Global Investments Holdings LLC raised its position in shares of Peoples Bancorp by 46.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,078 shares of the bank’s stock valued at $53,000 after purchasing an additional 663 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Peoples Bancorp in the first quarter valued at about $118,000. Bfsg LLC bought a new position in shares of Peoples Bancorp in the fourth quarter valued at about $174,000. Finally, Sapient Capital LLC bought a new position in shares of Peoples Bancorp in the fourth quarter valued at about $226,000. 60.68% of the stock is owned by institutional investors.

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.