Peoples Bancorp Q3 net income and EPS rise

By Reuters News


Overview

  • U.S. regional bank's Q3 net income and EPS rose both sequentially and yr/yr

  • Net interest income and margin improved, driven by higher loan and investment yields

  • Company recognized acquisition-related expenses for pending Citizens and Capital Bancorp deals


Outlook

  • Peoples Bancorp did not provide specific financial guidance for the current or future periods


Result Drivers

  • HIGHER LOAN YIELDS - Co said increased loan yields drove improvement in net interest margin and net interest income

  • FEE INCOME GROWTH - Co said increases in lease income, swap fee income, deposit account service charges, trust and investment income and bank owned life insurance income lifted non-interest income

  • LOWER CREDIT LOSS PROVISION - Co said provision for credit losses fell due to declines in reserves for individually-analyzed loans and leases and updates to prepayment, curtailment, and funding rates


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$0.91

Q3 Net Interest Income

$93.84 mln

Q3 Credit Loss Provision

$3.60 mln

Q3 Net Interest Margin

4.31%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the banks peer group is "buy."

  • Wall Street's median 12-month price target for Peoples Bancorp Inc is $42.00, about 15.2% above its October 19 closing price of $36.47

  • The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Oct 19 - ServisFirst Bancshares Q3 profit jumps on loan growth, wider interest margin

  • Oct 19 - Zions Bancorp Q3 EPS rises 20% on improved credit quality

  • Oct 19 - Western Alliance Bancorp Q3 revenue slightly beats estimates, profit rises on wider interest margin


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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