Peoples Bancorp Inc Gets a Hold Rating from Hovde Group

In a report released yesterday, Kevin Swanson from Hovde Group reiterated a Hold rating on Peoples Bancorp Inc (NASDAQ: PEBO), with a price target of $40. The company’s shares closed yesterday at $38.28, close to its 52-week high of $39.58.

Currently, the analyst consensus on Peoples Bancorp Inc is a Hold with an average price target of $39, representing a 1.9% upside. In a report released yesterday, Boenning & Scattergood also maintained a Hold rating on the stock.

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Based on Peoples Bancorp Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $7.89 million. In comparison, last year the company had a net profit of $9.71 million.

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Peoples Bancorp, Inc. is a financial holding company, which engages in banking, investment, insurance, and trust solutions. It offers various demand deposit accounts, savings accounts, money market accounts and certificates of deposit; commercial, consumer, real estate mortgage loans and lines of credit; debit and automated teller machine cards; credit cards for individuals and businesses; merchant credit card transaction processing services; corporate and personal trust services; safe deposit rental facilities; money orders and cashier’s checks; a full range of life, health, and property and casualty insurance products; brokerage services; and custom-tailored fiduciary, employee benefit plans and asset management and administration services. The company was founded in 1980 and is headquartered in Marietta, OH.