Peoples Bancorp (NASDAQ:PEBO) Coverage Initiated at Piper Sandler

Analysts at Piper Sandler initiated coverage on shares of Peoples Bancorp (NASDAQ:PEBO) in a report issued on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $39.00 price target on the bank’s stock. Piper Sandler’s price target would suggest a potential upside of 33.06% from the stock’s previous close.

Peoples Bancorp Price Performance

Shares of NASDAQ PEBO opened at $29.31 on Friday. The business has a 50 day simple moving average of $30.58 and a 200-day simple moving average of $29.89. Peoples Bancorp has a twelve month low of $25.04 and a twelve month high of $34.85. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 8.78 and a beta of 0.75. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Peoples Bancorp (NASDAQ:PEBO) last released its earnings results on Tuesday, July 23rd. The bank reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.01). Peoples Bancorp had a net margin of 20.58% and a return on equity of 12.76%. The business had revenue of $154.47 million for the quarter, compared to the consensus estimate of $111.30 million. During the same quarter in the previous year, the firm earned $0.83 EPS. As a group, equities research analysts expect that Peoples Bancorp will post 3.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Carol A. Schneeberger sold 1,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $30.33, for a total transaction of $30,330.00. Following the completion of the transaction, the director now directly owns 29,963 shares in the company, valued at $908,777.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Peoples Bancorp news, Director Carol A. Schneeberger sold 1,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $30.33, for a total value of $30,330.00. Following the completion of the transaction, the director now owns 29,963 shares in the company, valued at approximately $908,777.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David F. Dierker sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $32.07, for a total transaction of $128,280.00. Following the completion of the sale, the director now owns 13,330 shares in the company, valued at $427,493.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,617 shares of company stock valued at $209,214. Insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Peoples Bancorp in the third quarter worth about $250,000. Creative Planning lifted its stake in shares of Peoples Bancorp by 38.4% in the 2nd quarter. Creative Planning now owns 23,591 shares of the bank’s stock worth $708,000 after acquiring an additional 6,542 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Peoples Bancorp by 158.5% in the second quarter. AQR Capital Management LLC now owns 57,631 shares of the bank’s stock valued at $1,729,000 after acquiring an additional 35,333 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in shares of Peoples Bancorp by 5.3% during the second quarter. Commonwealth Financial Services LLC now owns 41,793 shares of the bank’s stock valued at $1,218,000 after acquiring an additional 2,097 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Peoples Bancorp by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,465,385 shares of the bank’s stock worth $73,960,000 after purchasing an additional 6,712 shares in the last quarter. Institutional investors own 60.68% of the company’s stock.

Peoples Bancorp Company Profile

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.