Peoples Bancorp Inc Stock Price, News & Analysis

Peoples Bancorp Inc. (Nasdaq: PEBO) reported a net income of $26.6 million for the first quarter of 2023, equating to earnings per diluted share of $0.96, up from $0.95 in the prior quarter and $0.84 year-over-year. The net interest income rose by 3% quarter-over-quarter and 34% year-over-year, attributed to higher market interest rates and full-quarter contributions from the Vantage acquisition. However, the provision for credit losses of $1.9 million negatively impacted earnings by $0.05 per share. Non-interest income, excluding net gains and losses, grew by 9% sequentially, driven by increased insurance income. The company is set to finalize the acquisition of Limestone Bancorp on April 30, 2023, valued at approximately $208.2 million. Total loans increased 4% annualized, and total deposits rose 1% compared to the previous quarter.

Peoples Bancorp Inc. (NASDAQ: PEBO) has received all regulatory approvals for its merger with Limestone Bancorp, Inc. (NASDAQ: LMST). This merger will position Peoples as the surviving corporation, streamlining operations as Peoples Bank merges with Limestone Bank, Inc. The Merger Agreement was initially made on October 24, 2022, receiving shareholder approval from both companies on February 23, 2023. With total assets of $7.2 billion and a wide service offering, Peoples aims to enhance its market presence across Ohio, Kentucky, West Virginia, Virginia, Washington D.C., and Maryland. This merger is expected to consolidate their resources, potentially leading to improved financial performance and service efficiency.

Peoples Bancorp Inc. (Nasdaq: PEBO) plans to release its first quarter 2023 earnings on April 25, 2023, before the market opens. A conference call with CEO Chuck Sulerzyski and CFO Kathryn Bailey will follow at 11:00 a.m. EDT to discuss the results and answer questions. Interested parties can participate via the provided dial-in number or listen online. As of December 31, 2022, Peoples reported $7.2 billion in total assets with 130 locations across multiple states. The company has been operating since 1902 and is part of the Russell 3000 index.

Peoples Bancorp Inc. (NASDAQ: PEBO) has elected Dwight Smith to its Board of Directors, effective February 24, 2023. Smith, 65, brings over 43 years of experience in the information technology sector, including as founder and former CEO of Sophisticated Systems. His extensive board experience includes roles at Rocky Brands, Nationwide Children's Hospital, and the Federal Reserve Bank of Cleveland. Chairman Susan Rector and CEO Chuck Sulerzyski expressed optimism about his contributions to the bank's growth. Peoples Bancorp, headquartered in Marietta, Ohio, boasts total assets of $7.2 billion as of December 31, 2022, and operates 130 locations across several states.

MOBILE LADS, CORP. (OTC PINK: MOBO) announced a partnership with North Star Leasing to provide $25 million in equipment financing, specifically for EEG medical headsets, enabling healthcare providers in mental health and substance abuse to enhance clinical services. The average headset cost exceeds $30,000, and this financing will streamline the sales cycle from weeks to days, supporting $6 million revenue goals. North Star Leasing, a division of Peoples Bank (NASDAQ: PEBO), funded $135 million in 2022 and aims for $170 million in 2023. Avail targets 700 substance abuse clinics in Florida, emphasizing research in psychedelic medicine.

Peoples Bancorp Inc. (NASDAQ: PEBO) has announced the retirement of George W. Broughton from its Board of Directors after 33 years of service, effective April 27, 2023. Broughton, who has been Vice Chairman since 2013, has significantly contributed to the company's resilience through economic challenges, including the Great Recession and COVID-19. His leadership has been pivotal as Peoples experienced substantial growth, with total assets of $7.2 billion as of December 31, 2022. The Board and CEO Chuck Sulerzyski expressed gratitude for his service and contributions, highlighting the importance of community involvement for the bank.

Peoples Bancorp Inc. (PEBO) declared a quarterly cash dividend of $0.38 per common share on January 23, 2023, with a payment date set for February 21, 2023. This dividend totals approximately $10.8 million, representing 40.1% of the reported fourth quarter 2022 earnings. Based on the closing stock price of $28.31 on January 20, 2023, the annualized yield stands at 5.37%. As of December 31, 2022, Peoples reported total assets of $7.2 billion and operates 130 locations across various states.

Marietta, Ohio-based Peoples Bancorp Inc. (NASDAQ: PEBO) reported a strong financial performance for the fourth quarter and full year 2022. Net income for Q4 was $26.8 million, with an earnings per diluted share of $0.95, up from $0.92 in Q3 2022 but slightly down from $0.98 in Q4 2021. For the full year, net income reached $101.3 million, signifying a substantial increase from $47.6 million in 2021. The company benefitted from rising net interest income, driven by acquisitions and higher market interest rates, with a net interest margin of 4.44%. The planned acquisition of Limestone Bancorp is set for Q2 2023, valued at approximately $208.2 million.

Peoples Bancorp Inc. (Nasdaq: PEBO) announced the election of Carol A. Schneeberger to its Board of Directors on January 23, 2023. Schneeberger, 66, previously served as Executive Vice President and Chief Administrative Officer at Peoples, contributing over 42 years of experience in banking. Her expertise spans operations, compliance, and information security, which is expected to enhance the Board's oversight capabilities. Chairman Susan Rector and CEO Chuck Sulerzyski expressed confidence in Schneeberger's ability to provide valuable insights that align with the company's strategic goals. As of December 31, 2022, Peoples had $7.2 billion in total assets and operates 130 locations.