Downgrades Peoples Bancorp (NASDAQ:PEBO) to Hold

Peoples Bancorp (NASDAQ:PEBOGet Rating) was downgraded by research analysts at from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also issued reports on the company. DA Davidson lifted their target price on Peoples Bancorp to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Stephens started coverage on Peoples Bancorp in a research note on Wednesday, June 8th. They issued an “equal weight” rating and a $33.00 price target on the stock. Raymond James cut Peoples Bancorp from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 28th. Piper Sandler cut Peoples Bancorp from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $31.00 to $30.00 in a research note on Friday, July 8th. Finally, B. Riley dropped their price target on Peoples Bancorp from $30.00 to $28.00 in a research note on Monday, July 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.00.

Peoples Bancorp Price Performance

NASDAQ:PEBO opened at $30.10 on Thursday. The business’s 50-day moving average price is $27.89 and its 200 day moving average price is $29.78. The firm has a market cap of $856.13 million, a P/E ratio of 12.39 and a beta of 0.89. Peoples Bancorp has a 52-week low of $25.63 and a 52-week high of $34.63. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.25.

Peoples Bancorp (NASDAQ:PEBOGet Rating) last released its earnings results on Tuesday, July 26th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.16. Peoples Bancorp had a return on equity of 10.47% and a net margin of 23.41%. During the same quarter last year, the company earned $0.81 EPS. As a group, sell-side analysts predict that Peoples Bancorp will post 3.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Peoples Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of PEBO. ProShare Advisors LLC acquired a new stake in shares of Peoples Bancorp during the 2nd quarter valued at about $8,136,000. Victory Capital Management Inc. lifted its holdings in shares of Peoples Bancorp by 271.4% during the 1st quarter. Victory Capital Management Inc. now owns 215,391 shares of the bank’s stock valued at $6,113,000 after buying an additional 157,391 shares during the last quarter. River Oaks Capital LLC acquired a new stake in shares of Peoples Bancorp during the 4th quarter valued at about $130,000. Assenagon Asset Management S.A. acquired a new stake in shares of Peoples Bancorp during the 1st quarter valued at about $3,302,000. Finally, EJF Capital LLC lifted its holdings in Peoples Bancorp by 42.9% in the 1st quarter. EJF Capital LLC now owns 221,254 shares of the bank’s stock worth $6,927,000 after purchasing an additional 66,418 shares during the last quarter. Hedge funds and other institutional investors own 48.02% of the company’s stock.

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.

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