Peoples Bancorp (NASDAQ:PEBO) downgraded to “neutral” at Piper Sandler

Peoples Bancorp (NASDAQ:PEBO – Get a rating) was downgraded by analysts at Piper Sandler to a “neutral” rating in a Friday research note to investors, Stock Target Advisor reports. They currently have a price target of $30.00 on shares of the bank, down from their previous price target of $31.00. Piper Sandler’s target price indicates a potential upside of 11.11% from the stock’s previous close.

A number of other research companies also commented on PEBO. StockNews.com downgraded Peoples Bancorp from a “buy” rating to a “hold” rating in a Thursday, June 9 research rating. B. Riley downgraded Peoples Bancorp from a “buy” rating to a “neutral” rating and reduced its target price for the stock from $36.00 to $30.00 in a Tuesday, June 14 report. Raymond James downgraded Peoples Bancorp from an “outperforming” rating to a “market performing” rating in a Thursday, April 28 report. Finally, Stephens kicked off Peoples Bancorp coverage in a Wednesday, June 8 report. They set an “equal weight” rating and a price target of $33.00 on the stock. Five analysts rated the stock with a holding rating. Based on MarketBeat data, Peoples Bancorp currently has a consensus rating of “Hold” and an average target price of $32.75.

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The NASDAQ PEBO opened at $27.00 on Friday. The company has a market capitalization of $767.88 million, a PE ratio of 13.11 and a beta of 0.84. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt ratio of 0.25. The company’s 50-day moving average price is $27.52 and its 200-day moving average price is $30.36. Peoples Bancorp has a 12-month low of $26.18 and a 12-month high of $34.63.

Peoples Bancorp (NASDAQ:PEBO – Get Rating) last released its results on Tuesday, April 26. The bank reported EPS of $0.88 for the quarter, beating the consensus estimate of $0.69 by $0.19. The company posted revenue of $74.75 million for the quarter, versus $74.99 million expected by analysts. Peoples Bancorp achieved a return on equity of 10.11% and a net margin of 20.24%. During the same period last year, the company achieved EPS of $0.90. Equity analysts predict that Peoples Bancorp will post EPS of 3.12 for the current year.

A number of institutional investors have recently changed their holdings in PEBO. Raymond James Financial Services Advisors Inc. increased its stake in Peoples Bancorp by 1.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 30,722 shares of the bank valued at $977,000 after buying 462 more shares last quarter. First Trust Advisors LP increased its stake in Peoples Bancorp by 0.6% in the first quarter. First Trust Advisors LP now owns 101,857 shares of the bank valued at $3,189,000 after acquiring 596 additional shares in the last quarter. Quantbot Technologies LP increased its stake in Peoples Bancorp by 60.0% in the first quarter. Quantbot Technologies LP now owns 1,600 shares of the bank valued at $50,000 after acquiring an additional 600 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Peoples Bancorp by 62.9% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,605 shares of the bank valued at $50,000 after acquiring an additional 620 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Peoples Bancorp shares by 45.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,289 shares of the bank valued at $74,000 after buying an additional 720 shares last quarter. Hedge funds and other institutional investors hold 48.02% of the company’s shares.

Peoples Bancorp Company Profile (Get an assessment)

Peoples Bancorp Inc operates as a holding company for Peoples Bank which 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 offers direct and indirect commercial and industrial real estate, commercial real estate, construction, financing, residential real estate and consumer loans, as well as home equity lines of credit and overdrafts.

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