Peoples Bancorp Inc Stock Price, News & Analysis

Peoples Bancorp Inc. (NASDAQ: PEBO) announced on January 28, 2021, a new share repurchase program authorizing up to $30 million of its common shares, replacing the previous program which had an authorization of $40 million. As of the termination of the old program, $28.4 million of shares had been repurchased. The new program allows for purchases in open market or negotiated transactions, with no obligation to repurchase specific amounts, using cash resources. Peoples had approximately 1,961,846 shares outstanding as of the announcement date.

On January 26, 2021, Peoples Bancorp Inc. announced the election of Michael N. Vittorio to its Board of Directors. Vittorio, who has over 45 years of banking experience, previously served as President and CEO of The First of Long Island Corporation until his retirement in December 2019. His extensive background is expected to bring valuable insights to Peoples. The company, with total assets of $4.8 billion as of December 31, 2020, operates 88 locations across Ohio, Kentucky, and West Virginia, emphasizing its commitment to financial stability and community impact.

Peoples Bancorp Inc. (NASDAQ: PEBO) reported record fourth-quarter net income of $20.6 million, or $1.05 per diluted share, driven by a $7.3 million recovery of credit losses. However, full-year net income dropped to $34.8 million in 2020 from $53.7 million in 2019. Net interest income decreased 2% in Q4 2020 and 1% for the full year, impacted by lower interest rates and COVID-19 effects. The company actively assisted businesses with approximately $500 million in Paycheck Protection Program loans. Total deposits rose by 19% year-over-year.

The Board of Directors of Peoples Bancorp declared a quarterly cash dividend of $0.35 per share, totaling approximately $6.8 million, which is 33.3% of reported Q4 2020 earnings. The dividend is payable on February 22, 2021, to shareholders of record as of February 8, 2021. With a closing stock price of $30.00 on the declaration date, this dividend yields an annualized rate of 4.67%. Peoples Bancorp offers diversified financial services and has total assets of $4.8 billion as of December 31, 2020.

Peoples Bancorp Inc. (Nasdaq: PEBO) will report its fourth quarter and year-to-date 2020 earnings on January 26, 2021, before market opens. A conference call hosted by CEO Chuck Sulerzyski and CFO Katie Bailey will follow at 11:00 a.m. Eastern Time. Participants can join via phone at (866) 890-9285, with access to a webcast and a one-year audio replay available online. Peoples operates with total assets of $4.9 billion and has 88 locations across Ohio, Kentucky, and West Virginia, demonstrating its financial stability and community impact.

Peoples Bancorp Inc. (NASDAQ: PEBO) announced that David L. Mead will retire as Chairman of the Board on October 31, 2020, after serving since 2016. He will leave the Boards of Directors effective March 31, 2021, after being a member since 2005. Susan D. Rector, an independent director since 2011, has been elected as the new Chairman. Rector has extensive experience in law and leadership within various committees at Peoples. The company, headquartered in Marietta, Ohio, has total assets of $4.9 billion as of September 30, 2020, and operates 88 locations across Ohio, Kentucky, and West Virginia.

The Board of Directors of Peoples Bancorp Inc. (Nasdaq: PEBO) declared a quarterly cash dividend of $0.35 per common share on October 19, 2020, payable November 16, 2020, to shareholders of record on November 2, 2020. This dividend totals approximately $6.9 million, providing an annualized yield of 6.46% based on the stock's closing price of $21.67 on the declaration date. Peoples Bancorp operates with $4.9 billion in total assets and maintains 88 locations across Ohio, Kentucky, and West Virginia.

Peoples Bancorp Inc. reported a net income of $10.2 million for Q3 2020, with earnings per diluted share of $0.51, a notable increase from $0.23 in Q2 2020, but down from $0.72 in Q3 2019. For the first nine months of 2020, net income was $14.2 million, down from $38.8 million in the same period last year. The company faced non-core expenses related to COVID-19, impacting earnings. Total loan balances increased by $111.1 million from the previous quarter, reflecting growth from the Peoples Premium Finance acquisition. However, non-interest expenses surged by 8%.

Peoples Bancorp Inc. (Nasdaq: PEBO) will release its third quarter 2020 earnings on October 20, 2020, before market open. The company will host a conference call at 11:00 a.m. EDT, featuring commentary from CEO Chuck Sulerzyski and CFO Kathryn Bailey, who will discuss the earnings results followed by a Q&A session. Interested participants should call in 15 minutes early. Peoples Bancorp has total assets of $5.0 billion and operates 89 locations in Ohio, Kentucky, and West Virginia.