Peoples Bancorp FY2024 EPS Estimate Raised by DA Davidson

Peoples Bancorp Inc. (NASDAQ:PEBO - Free Report) - Stock analysts at DA Davidson upped their FY2024 earnings estimates for Peoples Bancorp in a research report issued on Thursday, October 24th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $3.30 per share for the year, up from their prior forecast of $3.25. The consensus estimate for Peoples Bancorp's current full-year earnings is $3.31 per share.

Peoples Bancorp (NASDAQ:PEBO - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. The company had revenue of $158.41 million during the quarter, compared to the consensus estimate of $112.30 million. Peoples Bancorp had a net margin of 20.16% and a return on equity of 12.01%. During the same period in the previous year, the firm posted $1.06 earnings per share.

Separately, Piper Sandler decreased their target price on shares of Peoples Bancorp from $39.00 to $36.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Peoples Bancorp presently has an average rating of "Hold" and a consensus target price of $33.50.

Peoples Bancorp Stock Performance

NASDAQ PEBO traded up $1.17 on Monday, reaching $31.55. 150,034 shares of the company's stock traded hands, compared to its average volume of 124,627. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 8.99 and a beta of 0.75. The stock has a 50 day moving average price of $30.63 and a 200-day moving average price of $30.19. Peoples Bancorp has a fifty-two week low of $26.74 and a fifty-two week high of $34.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82.

Institutional Trading of Peoples Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in shares of Peoples Bancorp during the second quarter worth about $27,000. Innealta Capital LLC purchased a new stake in shares of Peoples Bancorp during the second quarter worth about $46,000. CWM LLC increased its stake in shares of Peoples Bancorp by 503.9% during the third quarter. CWM LLC now owns 1,860 shares of the bank's stock worth $56,000 after purchasing an additional 1,552 shares in the last quarter. Quest Partners LLC increased its stake in shares of Peoples Bancorp by 20,273.3% during the second quarter. Quest Partners LLC now owns 3,056 shares of the bank's stock worth $92,000 after purchasing an additional 3,041 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Peoples Bancorp during the third quarter worth about $123,000. Hedge funds and other institutional investors own 60.68% of the company's stock.

Insider Buying and Selling at Peoples Bancorp

In other Peoples Bancorp news, Director David F. Dierker sold 1,000 shares of Peoples Bancorp stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $30.36, for a total value of $30,360.00. Following the completion of the transaction, the director now owns 10,330 shares of the company's stock, valued at approximately $313,618.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 2,541 shares of company stock valued at $77,406. Corporate insiders own 3.46% of the company's stock.

Peoples Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 5.07%. Peoples Bancorp's payout ratio is 45.58%.

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.