Zacks Investment Research Upgrades Peoples Bancorp (NASDAQ:PEBO) to Hold

Zacks Investment Research upgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a sell rating to a hold rating in a research note published on Thursday, Zacks.com reports.

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According to Zacks, “Peoples Bancorp Inc. is a bank holding company. “

A number of other research analysts also recently weighed in on the stock. BidaskClub upgraded shares of Peoples Bancorp from a sell rating to a hold rating in a research report on Wednesday, October 23rd. ValuEngine raised shares of Peoples Bancorp from a sell rating to a hold rating in a report on Wednesday, October 30th.

NASDAQ:PEBO traded down $0.18 during mid-day trading on Thursday, hitting $33.01. 50,400 shares of the company’s stock were exchanged, compared to its average volume of 42,246. The company has a market cap of $688.44 million, a PE ratio of 12.50 and a beta of 0.74. The business has a fifty day moving average price of $32.03 and a 200 day moving average price of $31.87. Peoples Bancorp has a one year low of $28.35 and a one year high of $35.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.79 and a quick ratio of 0.79.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. The company had revenue of $52.15 million for the quarter, compared to the consensus estimate of $51.98 million. Peoples Bancorp had a net margin of 22.95% and a return on equity of 10.62%. On average, equities analysts forecast that Peoples Bancorp will post 2.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, November 1st. This represents a $1.36 dividend on an annualized basis and a yield of 4.12%. Peoples Bancorp’s dividend payout ratio is currently 51.52%.

In other Peoples Bancorp news, Director George W. Broughton sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $32.81, for a total transaction of $98,430.00. Following the completion of the sale, the director now directly owns 128,429 shares of the company’s stock, valued at $4,213,755.49. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.89% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. increased its holdings in Peoples Bancorp by 7.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 14,254 shares of the bank’s stock valued at $460,000 after buying an additional 962 shares during the last quarter. Zebra Capital Management LLC increased its stake in shares of Peoples Bancorp by 15.5% in the second quarter. Zebra Capital Management LLC now owns 8,908 shares of the bank’s stock worth $287,000 after purchasing an additional 1,194 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Peoples Bancorp by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 123,846 shares of the bank’s stock worth $3,996,000 after purchasing an additional 1,469 shares in the last quarter. Aperio Group LLC increased its stake in shares of Peoples Bancorp by 10.0% in the second quarter. Aperio Group LLC now owns 22,199 shares of the bank’s stock worth $716,000 after purchasing an additional 2,020 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Peoples Bancorp by 8.8% in the third quarter. Rhumbline Advisers now owns 28,858 shares of the bank’s stock worth $918,000 after purchasing an additional 2,322 shares in the last quarter. 58.30% of the stock is owned by institutional investors and hedge funds.

Peoples Bancorp Company Profile

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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