Peoples Bancorp Inc. (NASDAQ:PEBO – Get Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Stockholders of record on Monday, February 6th will be paid a dividend of 0.38 per share by the bank on Tuesday, February 21st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend is Friday, February 3rd.
Peoples Bancorp has increased its dividend payment by an average of 4.4% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Peoples Bancorp has a dividend payout ratio of 41.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Peoples Bancorp to earn $3.51 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 43.3%.
Peoples Bancorp Price Performance
Shares of NASDAQ:PEBO opened at $29.10 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $823.24 million, a price-to-earnings ratio of 8.02 and a beta of 0.83. The business has a 50-day simple moving average of $28.86 and a two-hundred day simple moving average of $29.38. Peoples Bancorp has a fifty-two week low of $25.63 and a fifty-two week high of $34.63.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on PEBO shares. Hovde Group cut Peoples Bancorp from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $30.00 in a report on Wednesday, October 26th. StockNews.com raised Peoples Bancorp from a “hold” rating to a “buy” rating in a report on Friday, January 6th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.50.
Institutional Trading of Peoples Bancorp
A number of hedge funds and other institutional investors have recently modified their holdings of PEBO. BlackRock Inc. boosted its holdings in Peoples Bancorp by 4.1% in the 3rd quarter. BlackRock Inc. now owns 2,061,563 shares of the bank’s stock worth $59,640,000 after buying an additional 81,594 shares during the period. Vanguard Group Inc. boosted its stake in shares of Peoples Bancorp by 1.1% in the third quarter. Vanguard Group Inc. now owns 1,396,103 shares of the bank’s stock worth $40,389,000 after acquiring an additional 15,681 shares during the period. State Street Corp grew its position in shares of Peoples Bancorp by 2.3% during the first quarter. State Street Corp now owns 722,637 shares of the bank’s stock worth $22,626,000 after purchasing an additional 16,262 shares in the last quarter. Northern Trust Corp raised its stake in Peoples Bancorp by 4.6% during the 2nd quarter. Northern Trust Corp now owns 267,748 shares of the bank’s stock valued at $7,122,000 after purchasing an additional 11,810 shares during the period. Finally, EJF Capital LLC lifted its holdings in Peoples Bancorp by 42.9% in the 1st quarter. EJF Capital LLC now owns 221,254 shares of the bank’s stock worth $6,927,000 after purchasing an additional 66,418 shares in the last quarter. 49.73% of the stock is owned by hedge funds and other institutional investors.
Peoples Bancorp Company Profile
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 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.
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