Zacks Investment Research upgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a buy rating in a research report sent to investors on Friday morning. The brokerage currently has $37.00 target price on the bank’s stock.
According to Zacks, “Peoples Bancorp Inc. is a bank holding company. “
Several other research firms also recently commented on PEBO. Boenning Scattergood reissued a hold rating on shares of Peoples Bancorp in a research report on Wednesday, July 25th. Hovde Group set a $40.00 target price on shares of Peoples Bancorp and gave the stock a hold rating in a research report on Wednesday, July 25th. BidaskClub raised shares of Peoples Bancorp from a hold rating to a buy rating in a research report on Saturday, September 8th. Finally, ValuEngine upgraded shares of Peoples Bancorp from a sell rating to a hold rating in a report on Tuesday, October 9th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $38.00.
Peoples Bancorp (NASDAQ:PEBO) last posted its earnings results on Tuesday, October 23rd. The bank reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The firm had revenue of $47.68 million for the quarter, compared to the consensus estimate of $47.46 million. Peoples Bancorp had a net margin of 20.72% and a return on equity of 9.80%. On average, sell-side analysts predict that Peoples Bancorp will post 2.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Monday, November 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.50%. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, November 2nd. Peoples Bancorp’s dividend payout ratio is 49.12%.
Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG boosted its holdings in Peoples Bancorp by 26.8% during the first quarter. UBS Group AG now owns 6,908 shares of the bank’s stock valued at $245,000 after acquiring an additional 1,460 shares during the period. MetLife Investment Advisors LLC boosted its holdings in Peoples Bancorp by 27.1% during the second quarter. MetLife Investment Advisors LLC now owns 8,443 shares of the bank’s stock valued at $319,000 after acquiring an additional 1,802 shares during the period. US Bancorp DE boosted its holdings in Peoples Bancorp by 5,073.7% during the second quarter. US Bancorp DE now owns 8,847 shares of the bank’s stock valued at $335,000 after acquiring an additional 8,676 shares during the period. Allianz Asset Management GmbH bought a new stake in Peoples Bancorp during the first quarter valued at about $415,000. Finally, Globeflex Capital L P boosted its holdings in Peoples Bancorp by 12.0% during the second quarter. Globeflex Capital L P now owns 14,900 shares of the bank’s stock valued at $563,000 after acquiring an additional 1,600 shares during the period. Institutional investors own 61.67% of the company’s stock.
About Peoples Bancorp
Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and retail banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and provides commercial real estate construction loans, other commercial real estate loans, commercial and industrial loans, residential real estate loans, home equity lines of credit, and indirect and other consumer loans.
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