Peoples Bancorp (NASDAQ:PEBO) Price Target Raised to $40.00

Peoples Bancorp (NASDAQ:PEBO) had its price target increased by equities researchers at Piper Sandler from $39.00 to $40.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Piper Sandler’s target price indicates a potential upside of 26.95% from the company’s current price.

Several other equities research analysts have also commented on the stock. DA Davidson dropped their price target on shares of Peoples Bancorp from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective 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. Finally, Stephens reiterated an “equal weight” rating and issued a $37.50 price objective on shares of Peoples Bancorp in a report on Wednesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.90.

Peoples Bancorp Stock Up 0.5 %

Peoples Bancorp stock traded up $0.16 during trading on Wednesday, reaching $31.51. 70,268 shares of the company’s stock were exchanged, compared to its average volume of 125,380. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83. The company’s 50-day moving average is $33.31 and its two-hundred day moving average is $31.92. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 9.02 and a beta of 0.79. Peoples Bancorp has a 52-week low of $26.74 and a 52-week high of $37.07.

Peoples Bancorp (NASDAQ:PEBO) last issued its earnings results on Tuesday, January 21st. The bank reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. Peoples Bancorp had a net margin of 20.16% and a return on equity of 11.84%. During the same period last year, the firm posted $1.04 EPS. On average, analysts predict that Peoples Bancorp will post 3.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Matthew Edgell sold 3,000 shares of the firm’s 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 transaction, the insider now owns 16,092 shares in the company, valued at approximately $552,921.12. This trade represents a 15.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director S Craig Beam sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $34.31, for a total transaction of $137,240.00. Following the transaction, the director now owns 23,760 shares in the company, valued at $815,205.60. This represents a 14.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,420 shares of company stock worth $424,076. Corporate insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

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