$42.87 Million in Sales Expected for Peoples Bancorp Inc. (PEBO) This Quarter
Analysts forecast that Peoples Bancorp Inc. (NASDAQ:PEBO) will announce $42.87 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Peoples Bancorp’s earnings, with the lowest sales estimate coming in at $42.30 million and the highest estimate coming in at $43.61 million. Peoples Bancorp posted sales of $40.28 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.4%. The firm is expected to issue its next earnings results on Tuesday, April 24th.
On average, analysts expect that Peoples Bancorp will report full-year sales of $42.87 million for the current financial year, with estimates ranging from $181.60 million to $187.84 million. For the next financial year, analysts anticipate that the business will post sales of $198.32 million per share, with estimates ranging from $193.40 million to $201.25 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Peoples Bancorp.
PEBO has been the topic of several research reports. Zacks Investment Research downgraded shares of Peoples Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. Sandler O’Neill reaffirmed a “hold” rating and issued a $37.00 target price on shares of Peoples Bancorp in a report on Tuesday, January 23rd. BidaskClub downgraded shares of Peoples Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Peoples Bancorp in a report on Wednesday, October 25th. Finally, ValuEngine raised shares of Peoples Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, February 3rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Peoples Bancorp currently has a consensus rating of “Hold” and a consensus target price of $35.25.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th will be issued a $0.26 dividend. This is an increase from Peoples Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $1.04 annualized dividend and a dividend yield of 2.98%. Peoples Bancorp’s payout ratio is presently 49.52%.
In other news, Director Terry Thomas Sweet bought 2,000 shares of the stock in a transaction dated Monday, December 4th. The shares were acquired at an average price of $33.97 per share, with a total value of $67,940.00. Following the completion of the acquisition, the director now directly owns 4,767 shares in the company, valued at $161,934.99. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.04% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Peoples Bancorp by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,323,779 shares of the bank’s stock worth $44,466,000 after buying an additional 27,733 shares in the last quarter. BlackRock Inc. boosted its holdings in Peoples Bancorp by 6.4% during the fourth quarter. BlackRock Inc. now owns 1,291,788 shares of the bank’s stock worth $42,137,000 after buying an additional 77,563 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Peoples Bancorp by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 988,988 shares of the bank’s stock worth $32,261,000 after buying an additional 132,138 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Peoples Bancorp by 8.5% during the second quarter. Vanguard Group Inc. now owns 739,754 shares of the bank’s stock worth $23,768,000 after buying an additional 58,021 shares in the last quarter. Finally, Banc Funds Co. LLC boosted its holdings in Peoples Bancorp by 3.9% during the fourth quarter. Banc Funds Co. LLC now owns 568,141 shares of the bank’s stock worth $18,533,000 after buying an additional 21,259 shares in the last quarter. 61.68% of the stock is currently owned by hedge funds and other institutional investors.
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About Peoples Bancorp
Peoples Bancorp Inc is a financial holding company. The Company operates principally through its subsidiary, Peoples Bank. Peoples Bank’s operating subsidiaries include Peoples Insurance Agency, LLC (Peoples Insurance) and two asset management companies, PBNA, LLC and Peoples Tax Credit Equity, LLC. Peoples Investment Company has one subsidiary, Peoples Capital Corporation.
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