|Over a week ago|
Peoples Bancorp raises quarterly dividend to 36c from 35c per share » 08:0204/2004/20/21
The dividend is payable…
The dividend is payable on May 17, 2021, to shareholders of record on May 3, 2021.
Peoples Bancorp reports Q1 EPS 79c, consensus 72c » 06:0504/2004/20/21
Reports Q1 revenue…
Reports Q1 revenue $53.1M, consensus $52.94M. Reports Q1 CET1 capital ratio 12.44%. Book value per share and tangible book value per share, which excludes goodwill and other intangible assets, at March 31, were $29.49 and $20.12, respectively. Reports Q1 net charge-offs .13%. Non-core items negatively impacted earnings per diluted common share by 11c for the first quarter. "The year is off to a great start," said Chuck Sulerzyski, president and CEO. "We believe the economy is improving, which is reflected in our results for the quarter. We also announced two acquisitions at the end of the quarter that aligns with our strategy to deploy capital in a prudent manner. North Star Leasing joined Peoples as of April 1, 2021 and will meaningfully add to our net interest income and margin. When completed, the Premier Financial Bancorp deal is expected to provide a natural extension of our existing markets, as well as entry into attractive markets within Virginia, Maryland and Washington, D.C."
|Over a month ago|
Peoples Bancorp price target raised to $40 from $36 at B. Riley » 07:5604/0904/09/21
B. Riley analyst Steve…
B. Riley analyst Steve Moss raised the firm's price target on Peoples Bancorp to $40 from $36 and keeps a Buy rating on the shares. Fundamentals for bank earnings should continue to improve as credit costs are likely to decline further and higher interest rates support a better outlook, Moss tells investors in a research note. While near-term loan growth is likely to remain tempered, an increasing number of banks will indicate that loan pipelines have improved, adds the analyst. However, with the sector up 28% year-to-date, a more selective approach to banks and thrifts is warranted, contends Moss.
Peoples Bancorp upgraded to Outperform from Market Perform at Hovde Group » 07:5803/3103/31/21
Hovde Group analyst Bryce…
Hovde Group analyst Bryce Rowe upgraded Peoples Bancorp to Outperform from Market Perform with a $40 price target.
Peoples Bancorp price target raised to $40 from $36 at Raymond James » 07:1703/3003/30/21
Raymond James analyst…
Raymond James analyst David Long raised the firm's price target on Peoples Bancorp (PEBO) to $40 from $36 and keeps an Outperform rating on the shares following the announced acquisitions of Premier Financial Bancorp (PFBI) and North Star Leasing. Long thinks Peoples is acquiring a "solid" bank in Premier that will further increase its penetration in the West Virginia market, double its Kentucky market share, and provide new distribution points in the faster growing markets of Virginia, Maryland, and Washington D.C., and believes the acquisition of North Star Leasing adds another layerof diversification to its business model, the analyst tells investors in a research note.
Peoples Bancorp, Premier Financial deal valued at approximately $292.3M 07:0703/2903/29/21
Peoples Bancorp, Premier Financial announce all-stock merger agreement » 07:0703/2903/29/21
Peoples Bancorp (PEBO)…
Peoples Bancorp (PEBO) and Premier Financial Bancorp (PFBI) jointly announced the signing of a definitive agreement and plan of merger pursuant to which Peoples will acquire, in an all-stock merger, Premier, a bank holding company headquartered in Huntington, West Virginia, and the parent company of Premier Bank and Citizens Deposit Bank & Trust. Under the terms of the Merger Agreement, Premier will merge with and into Peoples, and Premier Bank and Citizens will subsequently merge with and into Peoples' wholly owned subsidiary, Peoples Bank, in a transaction valued at approximately $292.3M. Upon completion of the Merger, the combined company will have approximately $6.7B in total assets, $4.6B in total loans and $5.5B in total deposits with 136 locations in Ohio, West Virginia, Kentucky, Maryland, Virginia and Washington, D.C. Premier, through its two community bank subsidiaries, operates 48 branches in thirty-eight communities spanning across five-states, plus Washington D.C. As of December 31, 2020, Premier had, on a consolidated basis, $1.9B in total assets, which included $1.2B in total net loans, and $1.6B in total deposits. According to the terms of the Merger Agreement, which has been unanimously approved by the Boards of Directors of both companies, shareholders of Premier will receive 0.58 shares of Peoples common stock for each share of Premier common stock, and the Merger is expected to qualify as a tax-free reorganization for Premier shareholders. Based on Peoples' 20-day volume weighted average closing price of $33.95 per share as of March 26, 2021, the aggregate deal value is approximately $292.3M, or $19.69 per share. The transaction is expected to be immediately accretive to Peoples' estimated earnings before one-time costs, with a tangible book value earn back of approximately 2.6 years, and an internal rate of return in excess of 20%. The acquisition is expected to close during the third quarter of 2021, subject to the satisfaction of customary closing conditions, including regulatory approvals and the approval of the shareholders of Peoples and Premier. At that time, Premier's offices will become branches of Peoples Bank.
Peoples Bancorp, Premier Financial announce agreement for all-stock merger 07:0503/2903/29/21
Peoples Bancorp management to meet virtually with DA Davidson » 07:4003/1003/10/21
Virtual Meeting to be…
Virtual Meeting to be held on March 10 hosted by DA Davidson.
|Over a quarter ago|
Peoples Bancorp announces $30M share repurchase plan » 16:0301/2901/29/21
Peoples Bancorp announced…
Peoples Bancorp announced that on January 28, the Peoples Board of Directors authorized a new share repurchase program authorizing Peoples to purchase, from time to time, up to an aggregate of $30M of its outstanding common shares. This new program replaces the prior share repurchase program approved by the Board of Directors on February 27, 2020, which had authorized Peoples to purchase up to an aggregate of $40M of its outstanding common shares and was terminated on January 28, 2021, with an aggregate of $28.4M of Peoples common shares having been purchased through the termination date.