Peoples Bancorp (NASDAQ:PEBO) Given New $40.00 Price Target at DA Davidson

Peoples Bancorp (NASDAQ:PEBO) had its price target lowered by equities researchers at DA Davidson from $42.00 to $40.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. DA Davidson’s price objective indicates a potential upside of 26.26% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Peoples Bancorp from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price target on Peoples Bancorp from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.40.

Peoples Bancorp Price Performance

NASDAQ:PEBO traded up $0.33 during mid-day trading on Wednesday, reaching $31.68. The stock had a trading volume of 40,485 shares, compared to its average volume of 122,752. The firm has a 50 day moving average price of $33.31 and a two-hundred day moving average price of $31.92. The stock has a market capitalization of $1.13 billion, a P/E ratio of 9.03 and a beta of 0.79. Peoples Bancorp has a one year low of $26.74 and a one year high of $37.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.83 and a current ratio of 0.83.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. Peoples Bancorp had a return on equity of 11.84% and a net margin of 20.16%. During the same period in the prior year, the company earned $1.04 earnings per share. As a group, analysts expect that Peoples Bancorp will post 3.31 earnings per share for the current year.

Insider Transactions at Peoples Bancorp

In other news, Director Carol A. Schneeberger sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.02, for a total transaction of $31,020.00. Following the transaction, the director now directly owns 27,686 shares of the company’s stock, valued at $858,819.72. This represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David F. Dierker sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $35.36, for a total value of $70,720.00. Following the completion of the sale, the director now owns 1,214 shares of the company’s stock, valued at approximately $42,927.04. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,420 shares of company stock valued at $424,076. Insiders own 3.46% of the company’s stock.

Institutional Trading of Peoples Bancorp

Several institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in Peoples Bancorp by 153.6% during the third quarter. Wellington Management Group LLP now owns 352,488 shares of the bank’s stock worth $10,606,000 after acquiring an additional 213,488 shares during the last quarter. EMC Capital Management increased its position in Peoples Bancorp by 787.3% during the third quarter. EMC Capital Management now owns 57,485 shares of the bank’s stock valued at $1,730,000 after acquiring an additional 51,006 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Peoples Bancorp by 316.5% in the third quarter. JPMorgan Chase & Co. now owns 61,645 shares of the bank’s stock valued at $1,855,000 after acquiring an additional 46,845 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Peoples Bancorp in the 3rd quarter worth about $1,244,000. Finally, Barclays PLC boosted its stake in shares of Peoples Bancorp by 138.9% during the 3rd quarter. Barclays PLC now owns 63,096 shares of the bank’s stock worth $1,898,000 after purchasing an additional 36,684 shares during the period. Hedge funds and other 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.