Overview

• U.S. regional bank's Q2 net income and EPS rose yr/yr, but declined from prior qtr

• Net interest income and margin increased from prior qtr, driven by lower deposit costs

• Company recorded $0.4 mln in acquisition-related expenses for pending Citizens Bank merger

Outlook

• Company did not provide specific financial guidance for the current or upcoming quarters in the press release

Result Drivers

• NET INTEREST INCOME - Increase driven by lower deposit and borrowing costs compared to prior qtr and prior yr

• CREDIT LOSS PROVISION - Provision for credit losses decreased, reflecting improved macro-economic conditions and lower charge-offs, especially in leases and indirect consumer loans

• NON-INTEREST INCOME - Modest growth in non-interest income, led by increases in electronic banking, lease, trust and investment, and mortgage banking income, partially offset by lower insurance income

Company press release: ID:nPn8by8qFa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 EPS		$0.78
Q2 Net Interest Income		$92.73 mln
Q2 Net Interest Margin		4.23%

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 $39.00, about 1% below its July 20 closing price of $39.39

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads

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