Notable News Spotlight: Peoples Bancorp Inc. (NASDAQ:PEBO)
Peoples Bancorp Inc. (NASDAQ:PEBO) changed -2.43% to recent value of $28.55. The stock transacted 134554 shares during most recent day however it has an average volume of 51.69K shares. It spotted trading -27.32% off 52-week high price. On the other end, the stock has been noted -2.26% away from the low price over the last 52-weeks.
Peoples Bancorp Inc. (NASDAQ:PEBO) revealed that on February 27, 2020, the Peoples Board of Directors authorized a new share repurchase program authorizing Peoples to purchase, from time to time, up to an aggregate of $40 million of its outstanding common shares. This new program replaces the prior share repurchase program approved by the Board of Directors on November 3, 2015, which had authorized Peoples to purchase up to an aggregate of $20 million of its outstanding common shares and was terminated on February 27, 2020, with an aggregate of $6.3 million of Peoples common shares having been purchased through the termination date.
We believe this expanded share repurchase program is an important part of our capital allocation strategy, and demonstrates our confidence in Peoples’ long-term potential and our commitment to delivering shareholder value, said Chuck Sulerzyski, Peoples’ President and Chief Executive Officer.
Repurchases under the new share repurchase program may be made through open market or privately negotiated transactions at such times and in such amounts as the authorized officers of Peoples deem appropriate, subject to market conditions, regulatory requirements, any limitations under the contractual requirements of Peoples or Peoples’ subsidiaries and other factors. The share repurchase program does not obligate Peoples to repurchase any particular amount of common shares, and may be suspended or discontinued at any time without notice. Repurchases of common shares under the share repurchase program will be made using Peoples’ own cash resources and any common shares repurchased are expected to be held as treasury shares. The repurchase program has no time limit. Peoples had approximately 20,745,295 common shares outstanding on February 27, 2020. PEBO has an operating margin of 82.80% while its profit margin remained 31.40% for the last 12 months. Its earnings per share (EPS) expected to touch remained 9.50% for this year while earning per share for the next 5-years is expected to reach at 8.00%.
The company has 20.90M of outstanding shares and 20.19M shares were floated in the market. The price moved ahead of -11.85% from the mean of 20 days, -15.20% from mean of 50 days SMA and performed -11.86% from mean of 200 days price. Company’s performance for the week was -11.64%, -15.13% for month and YTD performance remained -17.63%.