Peoples Bancorp (PEBO) Tops Q2 EPS by 4c

Peoples Bancorp (NASDAQ: PEBO) reported Q2 EPS of $0.72, $0.04 better than the analyst estimate of $0.68. Revenue for the quarter came in at $52.7 million versus the consensus estimate of $51.35 million.

"Although the recent interest rate environment and an unusual amount of loan payoffs constrained net interest income in the latter half of the year, we are pleased with our results. Non-interest income, excluding net gains and losses, grew 6% compared to the linked quarter, highlighted by increases in income from electronic banking, trust and investment, and mortgage banking," said Chuck Sulerzyski, President and Chief Executive Officer. "We completed the acquisition of First Prestonsburg Bancshares Inc. during 2019. For the fourth consecutive year, excluding non-core items, we generated positive operating leverage during the year. We also continued to improve our efficiency ratio and had solid non-interest income growth supplemented by the First Prestonsburg acquisition, while investing in technology to better serve our customers. In 2020, we will continue to put our clients\' needs first, while continuing to make prudent investments into our business."

For earnings history and earnings-related data on Peoples Bancorp (PEBO) click here.

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