Peoples Bancorp (NASDAQ:PEBO) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a sell rating in a report released on Friday.

PEBO has been the subject of several other research reports. Hovde Group initiated coverage on shares of Peoples Bancorp in a research report on Monday, April 1st. They set a market perform rating and a $31.00 price objective for the company. Piper Sandler started coverage on shares of Peoples Bancorp in a report on Friday, February 23rd. They issued an overweight rating and a $34.00 target price for the company.

Peoples Bancorp Trading Up 3.4 %

PEBO opened at $28.49 on Friday. Peoples Bancorp has a twelve month low of $23.05 and a twelve month high of $34.85. The company has a 50-day simple moving average of $28.23 and a 200 day simple moving average of $29.22. 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 stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 8.23 and a beta of 0.76.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings data 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. Peoples Bancorp had a net margin of 21.52% and a return on equity of 13.47%. The business had revenue of $112.92 million during the quarter, compared to analysts’ expectations of $115.00 million. Analysts predict that Peoples Bancorp will post 3.39 EPS for the current fiscal year.

Peoples Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were issued a $0.39 dividend. The ex-dividend date was Friday, February 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.48%. Peoples Bancorp’s dividend payout ratio (DPR) is currently 45.09%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AJOVista LLC bought a new position in shares of Peoples Bancorp in the fourth quarter worth about $36,000. FMR LLC raised its holdings in Peoples Bancorp by 74.1% in the 1st quarter. FMR LLC now owns 1,504 shares of the bank’s stock valued at $39,000 after buying an additional 640 shares during the last quarter. Lazard Asset Management LLC bought a new position in Peoples Bancorp in the 4th quarter valued at approximately $45,000. Quantbot Technologies LP raised its holdings in Peoples Bancorp by 60.0% in the 1st quarter. Quantbot Technologies LP now owns 1,600 shares of the bank’s stock valued at $50,000 after buying an additional 600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Peoples Bancorp by 46.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,078 shares of the bank’s stock valued at $53,000 after buying an additional 663 shares during the last quarter. Institutional investors own 60.68% of the company’s stock.

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.