Peoples Bancorp (NASDAQ:PEBO) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Peoples Bancorp (NASDAQ:PEBO – Get Rating) announced its quarterly earnings data on Tuesday. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.16, Fidelity Earnings reports. Peoples Bancorp had a return on equity of 10.11% and a net margin of 20.24%. During the same period in the previous year, the business earned $0.81 earnings per share.

Peoples Bancorp Stock Up 4.6 %

Shares of PEBO opened at $29.96 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average is $27.44 and its two-hundred day moving average is $29.92. The firm has a market cap of $852.15 million, a P/E ratio of 14.54 and a beta of 0.84. Peoples Bancorp has a 12 month low of $25.63 and a 12 month high of $34.63.

Peoples Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 5.07%. The ex-dividend date is Friday, August 5th. Peoples Bancorp’s payout ratio is currently 73.79%.

Institutional Trading of Peoples Bancorp

Institutional investors have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Peoples Bancorp by 2.3% in the first quarter. State Street Corp now owns 722,637 shares of the bank’s stock worth $22,626,000 after acquiring an additional 16,262 shares during the last quarter. EJF Capital LLC boosted its stake in shares of Peoples Bancorp by 42.9% in the first quarter. EJF Capital LLC now owns 221,254 shares of the bank’s stock worth $6,927,000 after acquiring an additional 66,418 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Peoples Bancorp by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 180,105 shares of the bank’s stock worth $5,640,000 after acquiring an additional 3,865 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Peoples Bancorp by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 177,915 shares of the bank’s stock worth $5,570,000 after acquiring an additional 1,701 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Peoples Bancorp by 0.6% in the first quarter. First Trust Advisors LP now owns 101,857 shares of the bank’s stock worth $3,189,000 after acquiring an additional 596 shares during the last quarter. 48.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on PEBO shares. DA Davidson raised their target price on Peoples Bancorp to $41.00 and gave the stock an “outperform” rating in a report on Wednesday. B. Riley dropped their target price on Peoples Bancorp from $30.00 to $28.00 in a report on Monday, July 11th. Piper Sandler lowered Peoples Bancorp from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $31.00 to $30.00 in a report on Friday, July 8th. Raymond James lowered Peoples Bancorp from an “outperform” rating to a “market perform” rating in a report on Thursday, April 28th. Finally, Stephens started coverage on Peoples Bancorp in a report on Wednesday, June 8th. They set an “equal weight” rating and a $33.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Peoples Bancorp currently has a consensus rating of “Hold” and a consensus price target of $34.00.

About Peoples Bancorp

(Get Rating)

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.