Piper Sandler Raises Peoples Bancorp (NASDAQ:PEBO) Price Target to $40.00

Peoples Bancorp (NASDAQ:PEBO) had its price objective raised by research analysts at Piper Sandler from $39.00 to $40.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential upside of 22.40% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Stephens reaffirmed an “equal weight” rating and set a $37.50 target price on shares of Peoples Bancorp in a report on Wednesday. DA Davidson decreased their target price on shares of Peoples Bancorp from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Peoples Bancorp from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Peoples Bancorp presently has an average rating of “Hold” and a consensus target price of $36.90.

Peoples Bancorp Stock Performance

Shares of PEBO opened at $32.68 on Wednesday. Peoples Bancorp has a 12-month low of $26.74 and a 12-month high of $37.07. The stock has a market capitalization of $1.16 billion, a P/E ratio of 9.87 and a beta of 0.79. The firm’s 50 day moving average is $33.19 and its 200-day moving average is $31.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.01. Peoples Bancorp had a return on equity of 11.07% and a net margin of 18.90%. During the same period in the previous year, the company earned $1.04 EPS. Equities research analysts anticipate that Peoples Bancorp will post 3.16 EPS for the current fiscal year.

Insider Transactions at Peoples Bancorp

In other Peoples Bancorp news, Director S Craig Beam sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $34.31, for a total value of $137,240.00. Following the transaction, the director now owns 23,760 shares in the company, valued at approximately $815,205.60. This represents a 14.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Edgell sold 3,000 shares of Peoples Bancorp stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $34.36, for a total transaction of $103,080.00. Following the sale, the insider now directly owns 16,092 shares of the company’s stock, valued at $552,921.12. This trade represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $411,010 over the last three months. 3.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Peoples Bancorp by 42.0% during the 3rd quarter. FMR LLC now owns 1,252 shares of the bank’s stock valued at $38,000 after buying an additional 370 shares during the last quarter. CWM LLC lifted its stake in Peoples Bancorp by 503.9% in the third quarter. CWM LLC now owns 1,860 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,552 shares during the last quarter. nVerses Capital LLC grew its position in Peoples Bancorp by 322.2% in the third quarter. nVerses Capital LLC now owns 3,800 shares of the bank’s stock worth $114,000 after acquiring an additional 2,900 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Peoples Bancorp by 223.3% during the 3rd quarter. Quantbot Technologies LP now owns 3,964 shares of the bank’s stock worth $119,000 after purchasing an additional 2,738 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Peoples Bancorp during the 3rd quarter valued at $123,000. 60.68% of the stock is owned by institutional investors and hedge funds.

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.