Q2 2024 Earnings Forecast for Peoples Bancorp Inc. (NASDAQ:PEBO) Issued By DA Davidson

Peoples Bancorp Inc. (NASDAQ:PEBO) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for Peoples Bancorp in a research report issued to clients and investors on Thursday, April 25th. DA Davidson analyst M. Navas expects that the bank will earn $0.83 per share for the quarter. The consensus estimate for Peoples Bancorp’s current full-year earnings is $3.35 per share. DA Davidson also issued estimates for Peoples Bancorp’s FY2024 earnings at $3.50 EPS.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $33.00 price target (down from $36.00) on shares of Peoples Bancorp in a research report on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $34.00 price objective on shares of Peoples Bancorp in a report on Wednesday. Piper Sandler assumed coverage on shares of Peoples Bancorp in a research note on Friday, February 23rd. They set an “overweight” rating and a $34.00 target price for the company. StockNews.com upgraded shares of Peoples Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Hovde Group initiated coverage on 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. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.40.

Peoples Bancorp Price Performance

PEBO opened at $29.76 on Friday. 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 company’s 50-day moving average price is $28.33 and its 200 day moving average price is $29.38. Peoples Bancorp has a fifty-two week low of $23.05 and a fifty-two week high of $34.85. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 8.91 and a beta of 0.76.

Hedge Funds Weigh In On Peoples Bancorp

Hedge funds have recently modified their holdings of the company. AJOVista LLC acquired a new position in Peoples Bancorp in the fourth quarter worth approximately $36,000. Allspring Global Investments Holdings LLC grew its position in Peoples Bancorp by 46.9% during 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Peoples Bancorp in the 1st quarter valued at approximately $118,000. Bfsg LLC purchased a new stake in Peoples Bancorp in the 4th quarter worth approximately $174,000. Finally, EMC Capital Management boosted its stake in shares of Peoples Bancorp by 214.9% during the 3rd quarter. EMC Capital Management now owns 7,292 shares of the bank’s stock valued at $185,000 after buying an additional 4,976 shares during the period. 60.68% of the stock is currently owned by institutional investors and hedge funds.

Peoples Bancorp Increases Dividend

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

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.