PEBO - Peoples Bancorp stock hits 52-week low amid slump in financial stocks

• Peoples Bancorp ( NASDAQ: PEBO ) stock finished Wednesday's session at a new 52-week low of $26.12 per share, as financial stocks got dragged down after a hotter-than-expected consumer price inflation print .
• Financial stocks ( -0.9% ) were third-worst performing sector out of the eleven S&P 500 sectors during intraday trading.
• Furthermore, Peoples Bancorp ( PEBO ) -2.25% shares fell the most among a slew of its regional lending peers, including U.S. Bancorp ( USB ) -1.9% , New York Community Bancorp ( NYCB ) -1.6% , KeyCorp ( KEY ) -1.9% and Fifth Third Bancorp ( FITB ) -1.5% , as seen in the chart below.
• The SPDR S&P Regional Banking ETF ( KRE ) -1.7% also took a hit as recession fears increasingly outweigh rising interest rates.
• The move comes after Piper Sandler on June 8 had downgraded Peoples Bancorp ( PEBO ) to Neutral from Overweight.

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