Peoples Bancorp (NASDAQ:PEBO) Upgraded to “Hold” at BidaskClub

Peoples Bancorp (NASDAQ:PEBO) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, May 22nd, BidAskClub reports.

Several other research firms also recently weighed in on PEBO. Boenning Scattergood reissued a “hold” rating on shares of Peoples Bancorp in a research note on Friday, January 25th. Zacks Investment Research raised shares of Peoples Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, March 12th. Finally, ValuEngine downgraded shares of Peoples Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.50.

PEBO stock traded down $0.03 during midday trading on Wednesday, hitting $32.15. 30,418 shares of the stock traded hands, compared to its average volume of 38,608. Peoples Bancorp has a 1-year low of $28.35 and a 1-year high of $39.58. The firm has a market cap of $661.75 million, a PE ratio of 12.18, a P/E/G ratio of 1.41 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.06. Peoples Bancorp had a net margin of 22.59% and a return on equity of 10.42%. The business had revenue of $49.34 million for the quarter, compared to analyst estimates of $49.09 million. Research analysts predict that Peoples Bancorp will post 2.83 earnings per share for the current fiscal year.

In other Peoples Bancorp news, Director George W. Broughton sold 2,000 shares of Peoples Bancorp stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $31.94, for a total transaction of $63,880.00. Following the transaction, the director now directly owns 148,336 shares of the company’s stock, valued at $4,737,851.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George W. Broughton sold 10,011 shares of Peoples Bancorp stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $32.40, for a total transaction of $324,356.40. Following the transaction, the director now directly owns 145,336 shares in the company, valued at $4,708,886.40. The disclosure for this sale can be found here. Insiders have sold 12,154 shares of company stock worth $392,798 over the last ninety days. 2.89% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in shares of Peoples Bancorp by 58.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,809 shares of the bank’s stock valued at $85,000 after acquiring an additional 1,033 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Peoples Bancorp during the fourth quarter valued at about $102,000. Great West Life Assurance Co. Can increased its position in shares of Peoples Bancorp by 99.8% during the first quarter. Great West Life Assurance Co. Can now owns 3,375 shares of the bank’s stock valued at $104,000 after acquiring an additional 1,686 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Peoples Bancorp by 438.7% during the first quarter. BNP Paribas Arbitrage SA now owns 3,685 shares of the bank’s stock valued at $114,000 after acquiring an additional 3,001 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Peoples Bancorp in the first quarter valued at approximately $152,000. Institutional investors and hedge funds own 57.40% of the company’s stock.

About Peoples Bancorp

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 real estate construction loans, other commercial real estate loans, commercial and industrial loans, residential real estate loans, home equity lines of credit, and indirect and other consumer loans.

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