Peoples Bancorp Inc. (NASDAQ:PEBO – Get Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Investors of record on Monday, February 6th will be given a dividend of 0.38 per share by the bank on Tuesday, February 21st. This represents a $1.52 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Friday, February 3rd.
Peoples Bancorp has raised its dividend by an average of 4.4% annually over the last three years and has raised its dividend every year for the last 7 years. Peoples Bancorp has a dividend payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Peoples Bancorp to earn $3.51 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 43.3%.
Peoples Bancorp Price Performance
PEBO opened at $29.10 on Wednesday. The business has a fifty day moving average of $28.86 and a 200 day moving average of $29.38. Peoples Bancorp has a 52-week low of $25.63 and a 52-week high of $34.63. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.14. The stock has a market cap of $823.24 million, a P/E ratio of 8.02 and a beta of 0.83.
Analysts Set New Price Targets
PEBO has been the subject of several research reports. Hovde Group cut Peoples Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $34.00 to $30.00 in a report on Wednesday, October 26th. StockNews.com upgraded Peoples Bancorp from a “hold” rating to a “buy” rating in a report on Friday, January 6th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.50.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Peoples Bancorp by 0.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 41,300 shares of the bank’s stock worth $1,099,000 after acquiring an additional 364 shares in the last quarter. BNP Paribas Arbitrage SNC raised its position in shares of Peoples Bancorp by 4.0% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 10,909 shares of the bank’s stock worth $316,000 after acquiring an additional 415 shares in the last quarter. American International Group Inc. raised its position in shares of Peoples Bancorp by 3.4% in the 2nd quarter. American International Group Inc. now owns 13,022 shares of the bank’s stock worth $346,000 after acquiring an additional 429 shares in the last quarter. Legal & General Group Plc raised its position in shares of Peoples Bancorp by 4.8% in the 2nd quarter. Legal & General Group Plc now owns 10,396 shares of the bank’s stock worth $277,000 after acquiring an additional 478 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Peoples Bancorp by 0.6% in the 1st quarter. First Trust Advisors LP now owns 101,857 shares of the bank’s stock worth $3,189,000 after acquiring an additional 596 shares in the last quarter. 49.73% of the stock is owned by institutional investors.
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 and industrial, commercial real estate, construction, finance, residential real estate, and consumer indirect and direct loans, as well as home equity lines of credit and overdrafts.
- Get a free copy of the StockNews.com research report on Peoples Bancorp (PEBO)
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