Peoples Bancorp (NASDAQ:PEBO) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Peoples Bancorp (NASDAQ:PEBO) released its quarterly earnings results on Tuesday. The bank reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11, FiscalAI reports. The firm had revenue of $124.52 million for the quarter, compared to the consensus estimate of $123.40 million. Peoples Bancorp had a return on equity of 10.71% and a net margin of 19.17%.

Peoples Bancorp Stock Down 0.7%

PEBO opened at $36.47 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Peoples Bancorp has a 1-year low of $28.01 and a 1-year high of $42.29. The company has a market capitalization of $1.31 billion, a PE ratio of 11.02 and a beta of 0.62. The firm’s 50 day simple moving average is $38.87 and its two-hundred day simple moving average is $37.31.

Insiders Place Their Bets

In other news, insider Matthew Edgell sold 3,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $41.27, for a total transaction of $123,810.00. Following the completion of the sale, the insider owned 20,183 shares of the company’s stock, valued at $832,952.41. The trade was a 12.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight Smith acquired 1,000 shares of Peoples Bancorp stock in a transaction dated Thursday, July 23rd. The stock was bought at an average price of $39.81 per share, with a total value of $39,810.00. Following the completion of the purchase, the director directly owned 10,256 shares in the company, valued at $408,291.36. This represents a 10.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PEBO shares. Zacks Research upgraded Peoples Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 1st. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Peoples Bancorp in a report on Monday, October 5th. DA Davidson dropped their target price on Peoples Bancorp from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 1st. Piper Sandler set a $42.00 target price on Peoples Bancorp in a research report on Monday, October 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Peoples Bancorp in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Peoples Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $40.50.

About Peoples Bancorp

Peoples Bancorp Inc is a financial holding company headquartered in Marietta, Ohio. Through its principal subsidiary, Peoples Bank, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Peoples Bank offers consumer and commercial deposit accounts, residential and commercial real estate loans, consumer lending, mortgage services, treasury management and other business financing solutions. The company also provides wealth management, trust, investment and insurance services through affiliated or related operations.

Founded in 1902, Peoples Bancorp serves communities primarily in Ohio, West Virginia, Kentucky and Virginia through a network of banking offices and digital banking channels.