Piper Sandler Raises Peoples Bancorp (NASDAQ:PEBO) Price Target to $40.00

Peoples Bancorp (NASDAQ:PEBO) had its target price boosted by stock analysts at Piper Sandler from $39.00 to $40.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 22.40% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on PEBO. Keefe, Bruyette & Woods boosted their price target on Peoples Bancorp from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens reissued an “equal weight” rating and set a $37.50 target price on shares of Peoples Bancorp in a report on Wednesday. Finally, DA Davidson decreased their price target on shares of Peoples Bancorp from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.90.

Peoples Bancorp Price Performance

Shares of PEBO stock opened at $32.68 on Wednesday. The firm has a fifty day moving average of $33.19 and a two-hundred day moving average of $31.92. The firm has a market cap of $1.16 billion, a P/E ratio of 9.87 and a beta of 0.79. Peoples Bancorp has a 1-year low of $26.74 and a 1-year high of $37.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. Peoples Bancorp had a return on equity of 11.07% and a net margin of 18.90%. During the same period in the prior year, the business earned $1.04 earnings per share. As a group, research analysts anticipate that Peoples Bancorp will post 3.16 earnings per share for the current fiscal year.

Insider Transactions at Peoples Bancorp

In other news, Director S Craig Beam sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $34.31, for a total transaction of $137,240.00. Following the completion of the transaction, the director now directly owns 23,760 shares in the company, valued at approximately $815,205.60. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carol A. Schneeberger sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $31.02, for a total value of $31,020.00. Following the completion of the sale, the director now owns 27,686 shares in the company, valued at approximately $858,819.72. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,000 shares of company stock worth $411,010. Insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Peoples Bancorp by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,465,385 shares of the bank’s stock valued at $73,960,000 after purchasing an additional 6,712 shares in the last quarter. State Street Corp raised its position in shares of Peoples Bancorp by 1.4% during the 3rd quarter. State Street Corp now owns 1,027,413 shares of the bank’s stock worth $30,915,000 after buying an additional 14,426 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Peoples Bancorp by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 850,654 shares of the bank’s stock worth $25,601,000 after acquiring an additional 22,285 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Peoples Bancorp by 153.6% in the third quarter. Wellington Management Group LLP now owns 352,488 shares of the bank’s stock valued at $10,606,000 after acquiring an additional 213,488 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Peoples Bancorp by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 295,203 shares of the bank’s stock valued at $8,883,000 after acquiring an additional 5,071 shares during the period. Institutional investors own 60.68% of the company’s stock.

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.