Peoples Bancorp (PEBO) Cut to “Sell” at Zacks Investment Research

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Peoples Bancorp (NASDAQ:PEBO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

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

A number of other equities research analysts also recently commented on PEBO. BidaskClub raised Peoples Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Boenning Scattergood reaffirmed a “hold” rating on shares of Peoples Bancorp in a report on Friday, January 25th. Finally, ValuEngine downgraded Peoples Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company has an average rating of “Sell” and an average price target of $38.50.

Shares of NASDAQ PEBO opened at $31.83 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $634.93 million, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. Peoples Bancorp has a fifty-two week low of $28.35 and a fifty-two week high of $39.58.

Peoples Bancorp (NASDAQ:PEBO) last issued its quarterly earnings results on Tuesday, January 22nd. The bank reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. The business had revenue of $48.30 million during the quarter, compared to the consensus estimate of $47.74 million. Peoples Bancorp had a return on equity of 9.94% and a net margin of 22.18%. On average, equities analysts anticipate that Peoples Bancorp will post 2.83 earnings per share for the current year.

In related news, Director George W. Broughton sold 2,000 shares of Peoples Bancorp stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $32.65, for a total transaction of $65,300.00. Following the completion of the sale, the director now owns 150,756 shares of the company’s stock, valued at $4,922,183.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George W. Broughton sold 1,000 shares of Peoples Bancorp stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $32.33, for a total value of $32,330.00. Following the sale, the director now directly owns 149,756 shares of the company’s stock, valued at approximately $4,841,611.48. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its position in Peoples Bancorp by 4.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 11,939 shares of the bank’s stock valued at $359,000 after acquiring an additional 517 shares in the last quarter. Citigroup Inc. raised its position in Peoples Bancorp by 18.0% during the fourth quarter. Citigroup Inc. now owns 5,669 shares of the bank’s stock valued at $171,000 after acquiring an additional 863 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Peoples Bancorp by 58.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,809 shares of the bank’s stock valued at $85,000 after acquiring an additional 1,033 shares in the last quarter. Bank of New York Mellon Corp raised its position in Peoples Bancorp by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 118,476 shares of the bank’s stock valued at $4,476,000 after acquiring an additional 1,741 shares in the last quarter. Finally, FMR LLC raised its position in Peoples Bancorp by 3.3% during the third quarter. FMR LLC now owns 64,922 shares of the bank’s stock valued at $2,274,000 after acquiring an additional 2,056 shares in the last quarter. Institutional investors own 60.07% 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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