StockNews.com has upgraded Peoples Bancorp (NASDAQ:PEBO) to Buy.
Peoples Bancorp (NASDAQ: PEBO), which previously had a “hold” rating, was given a “buy” rating by StockNews.com analysts in a research note that was distributed to investors on Friday.
In addition, PEBO produced a variety of additional studies. DA Davidson raised its price target on Peoples Bancorp to $41.00 and gave the company an “outperform” rating in a research report released Wednesday, July 27. Hovde Group downgraded Peoples Bancorp from ‘outperforming’ to ‘market performing’ in a research report. released Wednesday, October 26. Additionally, Hovde Group reduced its price target for the stock from $34.00 to $30.00. B. distributed a research report on July 11, which was a Monday. The price target for Peoples Bancorp was reduced by Riley to $28.00 from $30.00 previously. Peoples Bancorp was downgraded from “overweight” to “neutral” by Piper Sandler in a research report released Friday, July 8. Additionally, Piper Jaffray lowered her price target for the stock from $31.00 to $30.00. Finally, Stephens raised his price target on Peoples Bancorp to $34.00 in a research report released Tuesday, August 23. Five stock research analysts’ recommendations are to hold the stock, while two are to buy the stock. According to Bloomberg.com, the stock is rated “Hold” on average and analysts have set a consensus price target of $33.50.
On Friday, shares of Peoples Bancorp were priced at $29.60 when the market started. While the current ratio is 0.77 and the quick ratio is 0.77, the debt ratio is 0.16. The 1-year low for Peoples Bancorp is $25.63 and the 1-year high for the company is $34.63. The stock has a 50-day simple moving average of $29.78 and a 200-day simple moving average of $28.93. The company’s market cap currently sits at $837.59 million, its PE ratio is 8.15, and its beta is 0.84.
On Monday, October 17, Peoples Bancorp Chief Executive Charles W. Sulerzyski sold 1,500 shares of the company. At an average price of $30.64 per share, shares of the stock could be sold for a total of $45,960.00. As a direct result of the transaction, the CEO now owns 45,803 shares of the company, which are currently valued at approximately $1,403,403.92. This information about the transaction was published in a filing with the Securities and Exchange Commission, which can be found here. During the last quarter, business insiders sold 3,613 shares of the company with a total value of $111,277. Currently, business insiders own 2.42% of the company’s shares.
Several institutional investors have recently increased or decreased the amount of PEBO they hold. During the third quarter, Eidelman Virant Capital increased its portfolio by approximately $262,000 by acquiring a new investment in Peoples Bancorp. Raymond James Financial Services Advisors Inc. increased its stake in Peoples Bancorp by 1.3% during the third trimester. Raymond James Financial Services Advisors Inc. now owns 34,021 shares of the bank, worth $984,000, following the acquisition of 439 additional shares during the period. Additionally, Investment Partners LTD. bought a new position in Peoples Bancorp during the third quarter, valued at approximately $621,000. A 46.9% increase in McIlrath & Eck LLC’s ownership interest in Peoples Bancorp was achieved during the company’s third quarter reporting period. After making additional purchases during the period in question, McIlrath & Eck LLC now owns 1,353 shares of the bank, which are currently valued at $39,000. During the second quarter, Prelude Capital Management LLC added an additional 0.8% of shares to its holdings in Peoples Bancorp, bringing the total number of shares it holds to 102. After making additional purchases during During the period, Prelude Capital Management LLC now owns 40,873 shares of the bank’s stock, valued at a total of $1,087,000. The shares of the company are held by hedge funds and other types of institutional investors at 52.10%.
Peoples Bank, which offers corporate and personal banking services, is a subsidiary of Peoples Bancorp Inc., the parent company of the bank. In addition to overdrafts and home equity lines of credit, the bank provides loans to commercial and industrial businesses, commercial real estate businesses, construction businesses, financial businesses, residential real estate businesses, and consumer businesses.