Peoples Bancorp Inc. (NASDAQ:PEBO) to Issue Quarterly Dividend of $0.40

Peoples Bancorp Inc. (NASDAQ:PEBO) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.40 per share by the bank on Monday, May 20th. This represents a $1.60 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.39.

Peoples Bancorp has raised its dividend by an average of 4.2% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Peoples Bancorp has a payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Peoples Bancorp to earn $3.54 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 44.1%.

Peoples Bancorp Stock Performance

Shares of NASDAQ PEBO traded up $0.10 during midday trading on Wednesday, hitting $29.30. 19,673 shares of the company’s stock were exchanged, compared to its average volume of 123,928. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.21. Peoples Bancorp has a 12 month low of $23.05 and a 12 month high of $34.85. The company’s 50 day moving average price is $28.25 and its 200 day moving average price is $29.32. The firm has a market capitalization of $1.04 billion, a PE ratio of 8.50 and a beta of 0.76.

Peoples Bancorp (NASDAQ:PEBO) last issued its earnings results on Tuesday, January 23rd. The bank reported $1.04 EPS for the quarter, topping the consensus estimate of $0.94 by $0.10. The company had revenue of $112.92 million during the quarter, compared to the consensus estimate of $115.00 million. Peoples Bancorp had a return on equity of 13.47% and a net margin of 21.52%. As a group, analysts predict that Peoples Bancorp will post 3.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PEBO has been the subject of several analyst reports. StockNews.com cut Peoples Bancorp from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Hovde Group initiated coverage on Peoples Bancorp in a report on Monday, April 1st. They issued a “market perform” rating and a $31.00 price objective for the company. Finally, Piper Sandler began coverage on Peoples Bancorp in a report on Friday, February 23rd. They issued an “overweight” rating and a $34.00 price objective for the company.

Peoples Bancorp Company Profile

Peoples Bancorp Inc operates as the holding company for Peoples Bank that provides commercial and consumer banking products and services. The company accepts various deposit products, including demand deposit accounts, savings accounts, money market accounts, certificates of deposit, and governmental deposits; 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.