Peoples Bancorp (NASDAQ:PEBO) Rating Lowered to Sell at Zacks Investment Research

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Zacks Investment Research downgraded shares of Peoples Bancorp (NASDAQ:PEBO) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Peoples Bancorp Inc. is a bank holding company. “

Other research analysts have also issued research reports about the company. BidaskClub upgraded Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th. Boenning Scattergood restated a hold rating on shares of Peoples Bancorp in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has a consensus rating of Sell and a consensus price target of $38.50.

Shares of NASDAQ:PEBO opened at $32.31 on Thursday. Peoples Bancorp has a 1 year low of $28.35 and a 1 year high of $39.42. The stock has a market cap of $668.59 million, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.46 and a beta of 0.76. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. The company’s 50 day simple moving average is $31.85.

Peoples Bancorp (NASDAQ:PEBO) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $49.34 million for the quarter, compared to analyst estimates of $49.09 million. Peoples Bancorp had a return on equity of 10.42% and a net margin of 22.59%. As a group, analysts forecast that Peoples Bancorp will post 2.76 earnings per share for the current year.

In other Peoples Bancorp news, Director George W. Broughton sold 10,011 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $32.40, for a total value of $324,356.40. Following the transaction, the director now owns 145,336 shares in the company, valued at approximately $4,708,886.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George W. Broughton sold 2,000 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $31.94, for a total value of $63,880.00. Following the completion of the transaction, the director now owns 148,336 shares in the company, valued at approximately $4,737,851.84. The disclosure for this sale can be found here. Insiders sold a total of 12,154 shares of company stock worth $392,798 in the last 90 days. 2.89% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in shares of Peoples Bancorp by 58.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,809 shares of the bank’s stock worth $85,000 after acquiring an additional 1,033 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Peoples Bancorp by 438.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,685 shares of the bank’s stock worth $114,000 after acquiring an additional 3,001 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Peoples Bancorp in the 1st quarter worth $152,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Peoples Bancorp by 321.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,501 shares of the bank’s stock worth $166,000 after acquiring an additional 4,195 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Peoples Bancorp by 18.0% in the 4th quarter. Citigroup Inc. now owns 5,669 shares of the bank’s stock worth $171,000 after acquiring an additional 863 shares during the last quarter. Institutional investors own 57.40% of the company’s stock.

About Peoples Bancorp

Peoples Bancorp Inc operates as the holding company for Peoples Bank that 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 provides commercial real estate construction loans, other commercial real estate loans, commercial and industrial loans, residential real estate loans, home equity lines of credit, and indirect and other consumer loans.

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