Peoples Bancorp (PEBO)


Market Price (11/5/2026): $39.87 | Market Cap: $1.4 BilSector: Financials | Industry: Regional Banks

Peoples Bancorp (PEBO)


Market Price (11/5/2026): $39.87
Market Cap: $1.4 Bil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 4.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.5%, FCF Yield is 12%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37%

Low stock price volatility
Vol 12M is 21%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.

Trading close to highs
Dist 52W High is -3.6%, Dist 3Y High is -3.6%

Weak multi-year price returns
3Y Excs Rtn is -13%

Key risks
PEBO key risks include [1] significant credit quality issues within its small-ticket leasing portfolio, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 4.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.5%, FCF Yield is 12%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37%
2 Low stock price volatility
Vol 12M is 21%
3 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.
4 Trading close to highs
Dist 52W High is -3.6%, Dist 3Y High is -3.6%
5 Weak multi-year price returns
3Y Excs Rtn is -13%
6 Key risks
PEBO key risks include [1] significant credit quality issues within its small-ticket leasing portfolio, Show more.

PEBO in ETFs

Weight = PEBO's share of each fund

VTI0.00%
ITOT0.00%
IWM0.04%
KRE0.32%
AVUV0.11%
IWN0.10%
VTWO0.04%
SCHA0.03%
+5 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 11/1/2026

Peoples Bancorp (PEBO) stock has remained largely at the same level since 7/31/2026 because of the following key factors:

1. Dilution and Integration Risks from Capital Bancorp Acquisition.

Peoples Bancorp announced a definitive merger agreement to acquire Capital Bancorp, Inc. on September 30, 2026. This all-stock transaction, valued at approximately $728.1 million or $43.75 per share, involves Peoples issuing 18.2 million new shares. While the deal is projected to be 18.3% accretive to 2027 diluted earnings per share, the announcement of a significant share issuance can lead to concerns about short-term dilution and the complexities and execution risks associated with integrating a large acquisition. Additionally, the merger could push Peoples Bancorp's assets near or above the $10 billion threshold, potentially triggering increased regulatory scrutiny.

2. Loss on Investment Securities in Fiscal Q3 2026.

During fiscal Q3 2026 (ended September 30, 2026), Peoples Bancorp reported a $4.5 million net loss on the sale of $58.5 million of available-for-sale investment securities. This strategic sale was undertaken to manage the company's balance sheet under $10 billion in assets in anticipation of its pending merger with Citizens National Corporation. While categorized as a non-core item, this loss negatively impacted the reported GAAP net income for the quarter by $0.10 per diluted share, potentially weighing on investor sentiment.

Show more
Updated on 11/1/2026

Peoples Bancorp (PEBO) stock has remained largely at the same level since 7/31/2026 because of the following key factors:

1. Dilution and Integration Risks from Capital Bancorp Acquisition.

Peoples Bancorp announced a definitive merger agreement to acquire Capital Bancorp, Inc. on September 30, 2026. This all-stock transaction, valued at approximately $728.1 million or $43.75 per share, involves Peoples issuing 18.2 million new shares. While the deal is projected to be 18.3% accretive to 2027 diluted earnings per share, the announcement of a significant share issuance can lead to concerns about short-term dilution and the complexities and execution risks associated with integrating a large acquisition. Additionally, the merger could push Peoples Bancorp's assets near or above the $10 billion threshold, potentially triggering increased regulatory scrutiny.

2. Loss on Investment Securities in Fiscal Q3 2026.

During fiscal Q3 2026 (ended September 30, 2026), Peoples Bancorp reported a $4.5 million net loss on the sale of $58.5 million of available-for-sale investment securities. This strategic sale was undertaken to manage the company's balance sheet under $10 billion in assets in anticipation of its pending merger with Citizens National Corporation. While categorized as a non-core item, this loss negatively impacted the reported GAAP net income for the quarter by $0.10 per diluted share, potentially weighing on investor sentiment.

3. Broader Regional Banking Sector Headwinds and Interest Rate Concerns.

Despite Peoples Bancorp reporting stronger-than-expected adjusted earnings per share of $1.04 for fiscal Q3 2026, the stock movement since late July 2026 has also been influenced by prevailing macroeconomic factors impacting the regional banking sector. The "higher for longer" interest rate environment, with the 10-year Treasury yield above 5%, has raised investor concerns across the sector. This environment can lead to pressures on banks' book values due to unrealized losses on bond portfolios and create uncertainty around commercial real estate loan portfolios, even if specific credit quality metrics for Peoples Bancorp remained relatively stable in Q3 2026.

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Stock Movement Drivers

Fundamental Drivers

The -2.3% change in PEBO stock from 7/31/2026 to 11/4/2026 was primarily driven by a -4.8% change in the company's P/E Multiple.
(LTM values as of)731202611042026Change
Stock Price ($)40.7939.84-2.3%
Change Contribution By: 
Total Revenues ($ Mil)4574600.9%
Net Income Margin (%)25.9%26.3%1.8%
P/E Multiple12.111.6-4.8%
Shares Outstanding (Mil)3535-0.1%
Cumulative Contribution-2.3%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/4/2026
ReturnCorrelation
PEBO-2.3% 
Market (SPY)2.6%7.2%
Sector (XLF)4.0%55.0%

Fundamental Drivers

The 19.7% change in PEBO stock from 4/30/2026 to 11/4/2026 was primarily driven by a 10.3% change in the company's P/E Multiple.
(LTM values as of)430202611042026Change
Stock Price ($)33.2739.8419.7%
Change Contribution By: 
Total Revenues ($ Mil)4584600.5%
Net Income Margin (%)24.3%26.3%8.3%
P/E Multiple10.511.610.3%
Shares Outstanding (Mil)3535-0.3%
Cumulative Contribution19.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/4/2026
ReturnCorrelation
PEBO19.7% 
Market (SPY)7.0%4.9%
Sector (XLF)14.0%53.4%

Fundamental Drivers

The 48.0% change in PEBO stock from 10/31/2025 to 11/4/2026 was primarily driven by a 25.0% change in the company's P/E Multiple.
(LTM values as of)1031202511042026Change
Stock Price ($)26.9339.8448.0%
Change Contribution By: 
Total Revenues ($ Mil)4494602.5%
Net Income Margin (%)22.7%26.3%16.1%
P/E Multiple9.211.625.0%
Shares Outstanding (Mil)3535-0.6%
Cumulative Contribution48.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/4/2026
ReturnCorrelation
PEBO48.0% 
Market (SPY)13.4%16.3%
Sector (XLF)14.4%52.3%

Fundamental Drivers

The 70.9% change in PEBO stock from 10/31/2023 to 11/4/2026 was primarily driven by a 53.1% change in the company's P/E Multiple.
(LTM values as of)1031202311042026Change
Stock Price ($)23.3239.8470.9%
Change Contribution By: 
Total Revenues ($ Mil)36946024.9%
Net Income Margin (%)27.2%26.3%-3.3%
P/E Multiple7.511.653.1%
Shares Outstanding (Mil)3335-7.6%
Cumulative Contribution70.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/4/2026
ReturnCorrelation
PEBO70.9% 
Market (SPY)89.7%39.2%
Sector (XLF)91.0%60.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PEBO Return23%-7%26%-1%0%39%100%
Peers Return35%-4%-4%20%13%15%93%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
PEBO Win Rate75%50%75%50%50%82% 
Peers Win Rate70%52%45%58%55%55% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
PEBO Max Drawdown-22%-21%-24%-19%-21%-14% 
Peers Max Drawdown-21%-29%-43%-15%-25%-18% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: HBAN, FITB, KEY, UBSI, WSBC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)

How Low Can It Go

EventPEBOS&P 500
2025 US Tariff Shock
  % Loss-18.2%-18.8%
  % Gain to Breakeven22.2%23.1%
  Time to Breakeven248 days79 days
2023 SVB Regional Banking Crisis
  % Loss-22.5%-6.7%
  % Gain to Breakeven29.1%7.1%
  Time to Breakeven182 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-17.2%-24.5%
  % Gain to Breakeven20.7%32.4%
  Time to Breakeven28 days427 days
2020 COVID-19 Crash
  % Loss-41.8%-33.7%
  % Gain to Breakeven71.8%50.9%
  Time to Breakeven296 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-16.9%-19.2%
  % Gain to Breakeven20.3%23.8%
  Time to Breakeven316 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-23.5%-12.2%
  % Gain to Breakeven30.7%13.9%
  Time to Breakeven92 days62 days

Compare to HBAN, FITB, KEY, UBSI, WSBC

In The Past

Peoples Bancorp's stock fell -18.2% during the 2025 US Tariff Shock. Such a loss loss requires a 22.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventPEBOS&P 500
2023 SVB Regional Banking Crisis
  % Loss-22.5%-6.7%
  % Gain to Breakeven29.1%7.1%
  Time to Breakeven182 days31 days
2020 COVID-19 Crash
  % Loss-41.8%-33.7%
  % Gain to Breakeven71.8%50.9%
  Time to Breakeven296 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-23.5%-12.2%
  % Gain to Breakeven30.7%13.9%
  Time to Breakeven92 days62 days
2014-2016 Oil Price Collapse
  % Loss-28.8%-6.8%
  % Gain to Breakeven40.5%7.3%
  Time to Breakeven193 days15 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-29.3%-15.4%
  % Gain to Breakeven41.5%18.2%
  Time to Breakeven644 days125 days
2008-2009 Global Financial Crisis
  % Loss-72.0%-53.4%
  % Gain to Breakeven257.7%114.4%
  Time to Breakeven1290 days1085 days

Compare to HBAN, FITB, KEY, UBSI, WSBC

In The Past

Peoples Bancorp's stock fell -18.2% during the 2025 US Tariff Shock. Such a loss loss requires a 22.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Peoples Bancorp (PEBO)

Peoples Bancorp Inc. (PEBO) is a bank holding company primarily operating through its subsidiary, Peoples Bank, providing a comprehensive suite of commercial and retail banking products and services. The company caters to both individual consumers and businesses, offering essential banking functions such as various demand deposit accounts, savings accounts, money market accounts, and certificates of deposit. Its lending portfolio is extensive, covering commercial and industrial loans, commercial and residential real estate, construction, consumer direct and indirect loans, as well as home equity lines of credit.

Beyond traditional banking, Peoples Bancorp diversifies its offerings to include a wide range of financial services. These encompass various life, health, and property and casualty insurance products, commercial and technology equipment leasing, and specialized fiduciary and trust services, alongside asset management and administration. The company also provides credit cards to individuals and businesses, merchant credit card transaction processing, and person-to-person payment processing services. Peoples Bancorp operates through 135 financial service offices and ATMs, including 119 full-service branches, serving customers across Ohio, West Virginia, Kentucky, Virginia, Washington, D.C., and Maryland.

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A regional version of **PNC Bank**.

Like **U.S. Bank** for the Ohio Valley and Mid-Atlantic regions.

A full-service regional financial institution, similar to a scaled-down **Truist**.

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Here are the major products and services offered by Peoples Bancorp Inc. (PEBO):

  • Deposit Accounts: Provides various deposit products including demand deposit accounts, savings accounts, money market accounts, and certificates of deposit.
  • Loan Products: Offers a comprehensive range of loans such as commercial and industrial, commercial real estate, construction, residential real estate, consumer, home equity lines of credit, and overdrafts.
  • Card Services: Issues debit, ATM, and credit cards for individuals and businesses.
  • Insurance Services: Provides life, health, and property and casualty insurance products, alongside third-party insurance administration and premium financing.
  • Leasing and Equipment Financing: Offers commercial and technology equipment leasing, underwriting, origination, and servicing of equipment leases and financing agreements.
  • Fiduciary and Trust Services: Delivers fiduciary, trust, asset management, and administration services.
  • Employee Benefit Administration: Administers employee benefit, retirement, and health care plans.
  • Payment Processing: Facilitates merchant credit card transaction processing and person-to-person payments.
  • Brokerage Services: Provides access to brokerage services through unaffiliated registered broker-dealers.

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Major Customers of Peoples Bancorp (PEBO)

Peoples Bancorp Inc. serves a diversified customer base, providing both commercial and retail banking products and services. As a financial institution, its customer base is generally broad and fragmented rather than concentrated among a few major named entities. Therefore, its customers can be categorized into the following segments:

  • Individual Consumers: This category includes individuals and households who utilize personal banking services such as demand deposit accounts, savings accounts, money market accounts, certificates of deposit, residential real estate loans, consumer direct and indirect loans, home equity lines of credit, personal credit cards, debit/ATM cards, and personal insurance products.
  • Small to Mid-Sized Businesses (SMEs): This segment comprises companies that require commercial banking services like commercial and industrial loans, commercial real estate loans, construction financing, business checking and deposit accounts, business credit cards, merchant credit card transaction processing, and commercial insurance products.
  • Commercial and Institutional Clients: This category encompasses larger businesses and various institutions seeking more specialized financial services, including complex commercial real estate financing, equipment leasing, fiduciary and trust services, asset management and administration services, and employee benefit, retirement, and health care plan administration services.

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  • Fiserv, Inc. (FI)
  • Visa Inc. (V)

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Tyler Wilcox, President and Chief Executive Officer

Tyler Wilcox was appointed President and Chief Executive Officer of both Peoples Bancorp Inc. and Peoples Bank in April 2024. He previously served as Senior Executive Vice President, Chief Operating Officer from July 2023 to March 2024, and Executive Vice President, Community Banking from October 2020 to June 2023. His other roles at Peoples Bank include Executive Vice President, Regional President of the South Region from January 2019 to September 2020, and President of Peoples Insurance Agency from October 2015 to December 2018. Mr. Wilcox initially joined Peoples Bank in August 2008 as Associate Counsel. Prior to his tenure at Peoples, he practiced law as an Assistant City Attorney for the City of Columbus, Ohio, from January 2005 to August 2008.

Kathryn M. Bailey, Executive Vice President, Chief Financial Officer and Treasurer

Kathryn M. Bailey has served as Executive Vice President, Chief Financial Officer and Treasurer of both Peoples Bancorp Inc. and Peoples Bank since October 2020. She joined Peoples in May 2011 as SEC Reporting Manager for Peoples Bank. Subsequently, she was promoted to Controller and Vice President, Controller in June 2012, Senior Vice President, Controller in October 2015, and Senior Vice President, Director of Finance in January 2019. Before joining Peoples, Ms. Bailey gained experience in public accounting with PricewaterhouseCoopers LLP in Cleveland, Ohio, from September 2006 to May 2011. She is a Certified Public Accountant and holds a Bachelor of Arts degree in Accounting from Marietta College and a Master of Accounting degree from The Ohio State University.

Ron J. Majka, Executive Vice President, Chief Commercial Banking Officer

Ron J. Majka was appointed Executive Vice President, Chief Commercial Banking Officer, effective April 4, 2026. He joined Peoples Bank in September 2025 as Executive Vice President – Commercial Banking as part of the company's succession planning process. Mr. Majka brings nearly 30 years of experience in the financial services industry, with an extensive background in commercial banking. Prior to Peoples Bank, he served as Head of Upper Middle Market Banking for Huntington National Bank in Cleveland, Ohio, from January 2022, where he led commercial business development and market expansion across eight Midwest states. His previous roles include Head of Loan Syndications at Huntington (2017-2021) and FirstMerit Bank (2011-2017). From 2008 to 2011, Mr. Majka was Senior Vice President and Head of Commercial Banking for Liberty Bank. He also held various commercial banking and capital markets roles at National City Bank in Cleveland from 1996 to 2008.

Mark J. Augenstein, Executive Vice President, Operations

Mark J. Augenstein has served as Executive Vice President, Operations of both Peoples Bancorp Inc. and Peoples Bank since October 2020. He has been employed by Peoples Bank since September 2001. His previous positions at Peoples Bank include Senior Vice President, Operations from July 2012 to September 2020, and Vice President, Operations from May 2007 to June 2012.

Matthew M. Edgell, Executive Vice President, Chief of Staff

Matthew M. Edgell serves as Executive Vice President, Chief of Staff of both Peoples Bancorp Inc. and Peoples Bank, a position he has held since January 2023. He has also served as a Director and as President and Treasurer of Peoples Investment Company since 2016. His prior roles at Peoples Bank include Senior Vice President, Director of Finance (October 2020 - December 2022); Senior Vice President, Credit Administration Officer (August 2018 - September 2020); Senior Vice President, Director of Human Resources (October 2015 - July 2018); Senior Vice President, Director of Treasury (September 2010 - September 2015); Treasury Analyst (December 2008 - September 2010); and Professional Development Associate (September 2006 - December 2008). Before joining Peoples, Mr. Edgell was an Infantry Rifleman with the United States Marine Corps from 2000 to 2004.

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Here are the key risks to Peoples Bancorp (PEBO):

  1. Credit Risk: As a financial institution, Peoples Bancorp's profitability and financial health are significantly exposed to the risk of loan defaults across its diverse loan portfolio, which includes commercial and industrial, commercial real estate, construction, residential real estate, and various consumer loans. Economic downturns, either nationally or within the specific regional markets it serves (Ohio, West Virginia, Kentucky, Virginia, Washington, D.C., and Maryland), could lead to increased loan losses, impairing asset quality and capital.
  2. Interest Rate Risk: Peoples Bancorp's net interest income, the primary component of its earnings, is highly sensitive to changes in interest rates. Unfavorable shifts in interest rates, such as an environment where the cost of funding (e.g., deposit rates) increases more rapidly than the yields earned on its interest-earning assets (e.g., loans and investments), could lead to a compression of its net interest margin and reduced profitability.
  3. Regulatory and Compliance Risk: The banking industry is subject to extensive and evolving federal and state regulations. Peoples Bancorp faces the risk of increased compliance costs, operational restrictions, and potential fines or penalties due to changes in banking laws, regulations (such as those related to capital adequacy, consumer protection, data privacy, and anti-money laundering), or failure to comply with existing regulatory requirements.

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The rise of digital-only banks (neobanks) and specialized fintech platforms presents an emerging threat to Peoples Bancorp. These entities operate with significantly lower overheads, bypassing the need for extensive physical branch networks, which allows them to offer more competitive interest rates on deposits and loans, and lower or no fees. Their mobile-first and seamless digital user experiences can attract customers, particularly younger demographics, who prioritize convenience and digital interaction over traditional branch banking. This shift directly threatens Peoples Bancorp's deposit acquisition and its ability to attract new lending clients across its commercial, residential, and consumer loan portfolios. Furthermore, fintech disruptors specializing in areas like wealth management (robo-advisors) or specific lending products (e.g., online small business lenders) can unbundle banking services, directly competing with Peoples Bancorp's offerings in asset management, trust services, and various lending segments by providing faster, more agile, and often more cost-effective digital solutions.

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Peoples Bancorp (symbol: PEBO) operates in various financial services markets across Ohio, West Virginia, Kentucky, Virginia, Washington, D.C., and Maryland. The addressable market sizes for its main products and services, primarily within the United States, are detailed below:

  • Retail Banking: The U.S. retail banking market was estimated at USD 0.87 trillion in 2025 and is projected to reach USD 1.08 trillion by 2030.

  • Commercial Banking: The U.S. commercial banking market size is estimated at USD 765.53 billion in 2026, with projections to grow to USD 954.48 billion by 2031.

  • Life Insurance: The United States Life Insurance Market was valued at USD 784.13 billion in 2024 and is anticipated to grow to USD 1,167.34 billion by 2030.

  • Health Insurance: The U.S. group health insurance market size was estimated at USD 1.41 trillion in 2024.

  • Property & Casualty Insurance: The U.S. Property and Casualty Insurance Market is valued at USD 1.14 trillion in 2026 and is projected to grow to USD 1.39 trillion by 2031.

  • Equipment Leasing: The equipment leasing and finance industry in the United States reached a record high of USD 1.34 trillion in 2023.

  • Asset Management: The United States Assets Under Management (AUM) market is valued at approximately USD 140 trillion. (This figure represents the total value of assets managed, not revenue generated).

  • Credit Cards: The U.S. credit card market size stood at USD 190 billion in 2024 and is expected to grow to USD 388.4 billion by 2032.

  • Merchant Acquiring: The U.S. merchant acquiring market size is estimated at USD 24 billion in 2025.

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Peoples Bancorp (PEBO) is expected to drive future revenue growth over the next two to three years through several key strategies:

  1. Sustained Organic Loan Growth: Peoples Bancorp anticipates continued expansion in its loan portfolio, particularly within commercial and industrial (C&I), owner-occupied commercial real estate (CRE), and equipment finance sectors. The company achieved 6% loan growth for the full year 2025 and projects loan growth between 3% and 5% for 2026. Management targets mid-single-digit annualized loan growth through 2026, with an emphasis on these higher-yielding segments and high-quality residential mortgages.
  2. Growth in Diversified Fee-Based Income: The company is focused on increasing its non-interest income through various channels. For the full year 2025, fee-based income improved by 6% year-over-year, driven largely by increases in lease income and trust and investment income. Peoples Bancorp expects fee-based income to be between $28 million and $30 million quarterly. Future growth in this area is also targeted through the expansion of priority products such as treasury management, SBA/USDA lending, and further development of equipment finance.
  3. Strategic Mergers & Acquisitions (M&A) and Market Expansion: Peoples Bancorp has a history of strategic acquisitions, such as the Limestone Bancorp deal which expanded its presence in Louisville, and plans to continue this approach. The company aims to pursue in-footprint bank acquisitions to enhance its geographical reach and service offerings. Peoples Bancorp also indicates an interest in fintech partnerships to accelerate deposit gathering and diversify fee income, while maintaining disciplined expansion within its existing footprint. The company anticipates crossing $10 billion in assets by 2027, with a focus on organic growth, though acquisitions could accelerate this.
  4. Technological Innovation and Digital Transformation: Peoples Bancorp is investing in digital upgrades and technology to enhance operational efficiency and improve customer experience. This strategic focus aims to modernize infrastructure, leverage data-driven insights, and strengthen digital platforms for customer interactions. These efforts are expected to support customer acquisition and retention, thereby indirectly contributing to revenue growth.

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Share Repurchases

  • On February 27, 2020, Peoples Bancorp authorized a new share repurchase program for up to $40 million, replacing a previous $20 million authorization.
  • By January 28, 2021, $28.4 million had been repurchased under the $40 million program, and a subsequent program authorizing up to $30 million of outstanding common shares was approved.
  • The company repurchased $7.4 million in common shares in 2022 and $3.0 million in 2023 under ongoing programs.

Share Issuance

  • In 2021, Peoples Bancorp issued $261.9 million in common shares as part of the acquisition of Premier Financial Bancorp, Inc.
  • This all-stock transaction involved Premier Financial shareholders receiving 0.58 shares of Peoples common stock for each of their shares.
  • The number of outstanding shares for Peoples Bancorp increased significantly by 44.76% in 2021 and 24.97% in 2023, likely due to acquisitions.

Outbound Investments

  • Peoples Bancorp completed the acquisition of Premier Financial Bancorp, Inc. in September 2021, in an all-stock deal valued at approximately $292.3 million based on the stock price at the time of the agreement.
  • In February 2022, Peoples Bancorp acquired Vantage Financial for $54 million.
  • Peoples Bancorp acquired Limestone Bank in October 2022.

Capital Expenditures

  • Capital expenditures were approximately -$13.46 million in 2021, -$6.75 million in 2022, -$6.69 million in 2023, and -$4.30 million in 2024.
  • The company is making proactive investments in digital banking and automation to enhance operational efficiency.
  • A primary focus of capital expenditures is on data provision and data warehousing to support growth and increased system sophistication, alongside investments in new talent and specialty business areas.

Peer Outperformance in Regional Banks

PEBO has outperformed 55% of its 263 Regional Banks peers over 5Y. Among the peers that beat it are FBP, BPOP and OFG. Regional Banks ranks 8th of 18 industries in Financials by median 5Y return.
Share of Regional Banks constituents that PEBO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
72%
of 283 industry peers · 46.8% return
3Y
26%
of 274 industry peers · 63.2% return
5Y
55%
of 263 industry peers · 61.5% return
Regional Banks peers with revenue growth within 4pp of PEBO's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
PEBO Peoples Bancorp 5.1% 11.6x 46.8%63.2%61.5% —
FBP First BanCorp 2.9% 10.9x 39.3%103.9%124.1% +63pp
BPOP Popular 2.8% 10.5x 44.5%147.1%121.7% +60pp
OFG OFG Bancorp 4.5% 9.9x 34.3%75.7%120.3% +59pp
SRCE 1st Source 7.5% 12.1x 51.7%103.4%105.8% +44pp
EWBC East West Bancorp 6.3% 12.7x 37.6%145.1%83.8% +22pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is PEBO's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 35.5%75.2%130.3% SPNT 170% · RNR 149% · RGA 146%
Investment Banking & Brokerage 13 1.8%95.7%99.6% IBKR 329% · SNEX 173% · GS 157%
Diversified Banks 12 34.2%147.9%96.6% CM 152% · JPM 137% · RY 136%
Multi-Sector Holdings 4 10.9%62.5%86.0% BRK-B 101% · VOYA 71% · JEF 44%
Life & Health Insurance 20 12.7%56.2%79.1% JXN 536% · UNM 233% · MFC 202%
Property & Casualty Insurance 42 23.5%76.1%70.7% TRV 188% · PGR 177% · ACGL 176%
Multi-line Insurance 9 9.6%68.6%58.3% GNW 115% · AIZ 104% · L 100%
Regional Banks ← 264 34.6%91.5%51.6% CBC 273% · FCNCA 183% · NIC 143%
Financial Exchanges & Data 15 20.6%40.7%36.8% CBOE 178% · VIRT 125% · CME 72%
Insurance Brokers 15 5.9%14.3%32.4% LIFE 337% · ARX 89% · AJG 89%
Asset Management & Custody Banks 85 -4.4%22.2%12.7% VCTR 270% · WT 220% · AAMI 208%
Consumer Finance 30 8.6%85.4%9.8% ENVA 391% · FCFS 139% · AXP 105%
Commercial & Residential Mortgage Finance 14 -47.8%26.0%4.2% FNMA 349% · FMCC 316% · ACT 157%
Diversified Financial Services 4 2.0%22.6%3.3% FRHC 166% · EQH 80%
Specialized Finance 3 16.0%34.5%-18.0% HASI -18% · CACC -28%
Transaction & Payment Processing Services 17 21.7%25.4%-23.2% V 117% · MA 107% · CPAY 73%
Mortgage REITs 35 -17.6%-5.3%-32.0% RITM 38% · DX 20% · AGNC 12%
Diversified Capital Markets 20 -39.8%6.3%-65.5% LPLA 87% · TW 39% · RIOT -53%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

PEBOHBANFITBKEYUBSIWSBCMedian
NamePeoples .Huntingt.Fifth Th.KeyCorp United B.Wesbanco  
Mkt Price39.8716.1255.1221.6549.2439.6739.77
Mkt Cap1.432.650.322.86.83.814.8
Rev LTM46010,34011,4427,7531,2801,0634,516
Op Inc LTM-------
FCF LTM1712,9202,6611,5165343781,025
FCF 3Y Avg1432,2853,3861,512472268992
CFO LTM1753,3483,4541,6375563921,096
CFO 3Y Avg1492,5453,9781,6094882821,048

Growth & Margins

PEBOHBANFITBKEYUBSIWSBCMedian
NamePeoples .Huntingt.Fifth Th.KeyCorp United B.Wesbanco  
Rev Chg LTM2.5%30.3%32.4%26.2%14.6%21.7%24.0%
Rev Chg 3Y Avg5.1%11.7%11.0%8.2%6.3%22.6%9.6%
Rev Chg Q3.5%30.8%41.7%8.5%5.8%4.1%7.1%
QoQ Delta Rev Chg LTM0.9%6.8%9.1%2.1%1.4%1.0%1.7%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM37.9%32.4%30.2%21.1%43.4%36.9%34.7%
CFO/Rev 3Y Avg33.1%29.5%43.6%24.3%42.6%33.2%33.1%
FCF/Rev LTM37.1%28.2%23.3%19.6%41.7%35.6%31.9%
FCF/Rev 3Y Avg31.6%26.6%37.4%22.8%41.3%31.6%31.6%

Valuation

PEBOHBANFITBKEYUBSIWSBCMedian
NamePeoples .Huntingt.Fifth Th.KeyCorp United B.Wesbanco  
Mkt Cap1.432.650.322.86.83.814.8
P/S3.03.14.42.95.33.63.4
P/Op Inc-------
P/EBIT-------
P/E11.613.119.610.813.210.512.3
P/CFO8.09.714.614.012.29.711.0
Total Yield12.9%11.1%8.0%13.9%10.7%13.2%12.0%
Dividend Yield4.2%3.4%2.8%4.5%3.1%3.7%3.5%
FCF Yield 3Y Avg12.6%8.7%10.4%7.2%9.0%9.3%9.2%
D/E0.60.70.30.70.10.60.6
Net D/E0.40.1-0.9-0.1-0.30.3-0.0

Returns

PEBOHBANFITBKEYUBSIWSBCMedian
NamePeoples .Huntingt.Fifth Th.KeyCorp United B.Wesbanco  
1M Rtn8.6%5.4%8.5%7.3%6.1%5.1%6.7%
3M Rtn-3.1%-7.5%-3.5%-5.3%1.1%-5.0%-4.3%
6M Rtn18.7%-1.3%10.1%-0.7%14.5%17.5%12.3%
12M Rtn46.9%9.6%35.1%30.2%41.8%37.7%36.4%
3Y Rtn63.3%71.7%131.9%119.8%79.9%70.9%75.8%
1M Excs Rtn12.9%8.4%11.3%10.7%10.1%10.1%10.4%
3M Excs Rtn-0.2%-4.4%-0.6%-1.7%4.0%-2.2%-1.1%
6M Excs Rtn15.9%-4.1%7.3%-3.5%11.7%14.8%9.5%
12M Excs Rtn36.4%-1.6%26.6%18.0%31.3%26.0%26.3%
3Y Excs Rtn-12.5%8.8%80.2%66.3%15.4%6.0%12.1%

Comparison Analyses

null

FDIC Bank Data

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Community Banking454444422324232
Total454444422324232


Price Behavior

Price Behavior
Market Price$39.84 
Market Cap ($ Bil)1.4 
First Trading Date02/11/1993 
Distance from 52W High-3.6% 
   50 Days200 Days
DMA Price$38.00$35.43
DMA Trenddownup
Distance from DMA4.9%12.4%
 3M1YR
Volatility21.4%21.3%
Downside Capture22.0715.75
Upside Capture-4.3157.23
Correlation (S&P 500)-2.4%15.7%
PEBO Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta-0.070.060.100.070.270.68
Up Beta-2.83-1.31-0.12-0.580.030.66
Down Beta-0.15-0.49-0.52-0.160.050.71
Up Capture57%35%13%42%50%39%
Bmk +ve Days12182862130427
Stock +ve Days11203068131374
Down Capture-29%49%57%20%29%86%
Bmk -ve Days10253664121325
Stock -ve Days11233457119370

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PEBO
PEBO47.0%21.3%1.70-
Sector ETF (XLF)15.0%15.0%0.7152.5%
Equity (SPY)13.2%12.9%0.6816.3%
Gold (GLD)1.0%28.8%0.03-2.5%
Commodities (DBC)35.9%21.2%1.34-27.6%
Real Estate (VNQ)14.3%14.1%0.7043.6%
Bitcoin (BTCUSD)-28.2%43.4%-0.65-0.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PEBO
PEBO10.8%26.2%0.37-
Sector ETF (XLF)10.0%18.3%0.4058.7%
Equity (SPY)12.5%17.2%0.5540.9%
Gold (GLD)17.3%19.1%0.73-3.2%
Commodities (DBC)8.0%19.6%0.293.7%
Real Estate (VNQ)1.8%18.9%-0.0142.5%
Bitcoin (BTCUSD)5.5%51.5%0.2917.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PEBO
PEBO9.8%30.2%0.37-
Sector ETF (XLF)13.7%22.1%0.5670.6%
Equity (SPY)15.4%18.0%0.7352.2%
Gold (GLD)11.9%16.5%0.59-5.0%
Commodities (DBC)7.4%18.1%0.3316.6%
Real Estate (VNQ)5.7%20.7%0.2351.0%
Bitcoin (BTCUSD)61.0%66.2%1.0115.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity2.5 Mil
Short Interest: % Change Since 930202636.9%
Average Daily Volume0.5 Mil
Days-to-Cover Short Interest4.8 days
Basic Shares Quantity35.2 Mil
Short % of Basic Shares7.1%

Earnings Returns History

Updated 11/4/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/26/20260.7%1.0% 
7/27/20263.9%3.7%-1.7%
4/27/20261.1%1.5%3.6%
1/26/20260.9%4.1%5.8%
10/27/20250.1%-2.4%2.7%
7/28/2025-1.5%-3.7%5.3%
4/28/20251.6%4.2%5.3%
1/27/2025-0.1%-1.6%-3.4%
...
SUMMARY STATS   
# Positive151412
# Negative91011
Median Positive1.1%2.7%5.5%
Median Negative-0.9%-2.6%-2.5%
Max Positive3.9%6.3%13.5%
Max Negative-1.8%-9.3%-7.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/26/20260.7%1.0% 
7/27/20263.9%3.7%-1.7%
4/27/20261.1%1.5%3.6%
1/26/20260.9%4.1%5.8%
10/27/20250.1%-2.4%2.7%
7/28/2025-1.5%-3.7%5.3%
4/28/20251.6%4.2%5.3%
1/27/2025-0.1%-1.6%-3.4%
10/28/2024-0.6%-2.8%13.5%
7/26/2024-1.1%-9.3%-5.5%
4/29/2024-0.9%2.1%-1.0%
1/26/20240.9%-4.6%-6.5%
10/27/20232.7%6.3%8.7%
7/28/2023-1.3%-1.7%-7.7%
4/28/2023-0.8%-6.5%4.6%
1/27/20231.3%4.4%8.6%
10/28/20220.7%0.2%-0.1%
8/1/2022-1.8%-1.4%-1.8%
4/29/20221.8%1.8%5.7%
1/28/20220.5%0.2%-6.3%
10/29/20212.7%3.7%-2.4%
7/23/20210.4%3.3%9.8%
4/23/2021-0.4%-0.2%-2.5%
1/29/20211.6%2.1%4.3%
SUMMARY STATS   
# Positive151412
# Negative91011
Median Positive1.1%2.7%5.5%
Median Negative-0.9%-2.6%-2.5%
Max Positive3.9%6.3%13.5%
Max Negative-1.8%-9.3%-7.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202610/29/202610-Q
06/30/202607/30/202610-Q
03/31/202604/30/202610-Q
12/31/202502/26/202610-K
09/30/202510/30/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/27/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/28/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/27/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202610/29/202610-Q
06/30/202607/30/202610-Q
03/31/202604/30/202610-Q
12/31/202502/26/202610-K
09/30/202510/30/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/27/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/28/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/27/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/06/202210-Q
12/31/202103/15/202210-K
09/30/202111/05/202110-Q
06/30/202107/30/202110-Q
03/31/202104/29/202110-Q
12/31/202003/01/202110-K
09/30/202010/28/202010-Q
06/30/202007/30/202010-Q
03/31/202005/06/202010-Q
12/31/201903/03/202010-K

Recent Forward Guidance

Updated 11/2/2026

Latest: Q3 2026 Earnings Reported 10/26/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 Citizens Merger Acquired LoansReported 350.00 Mil    
Q4 2026 Citizens Merger Acquired DepositsReported 550.00 Mil    
Q4 2026 Quarterly Fee-based IncomeReported28.00 Mil29.00 Mil30.00 Mil   
Q4 2026 Citizens Merger Acquisition-Related ExpensesReported11.00 Mil12.00 Mil13.00 Mil   
Q4 2026 Quarterly Non-Interest ExpenseReported78.00 Mil79.00 Mil80.00 Mil   
2027 Quarterly Fee-based IncomeReported31.00 Mil32.00 Mil33.00 Mil   
2027 Loan GrowthReported3.0%4.0%5.0%   
2027 Quarterly Non-Interest Expense (Q2-Q4)Reported80.00 Mil81.00 Mil82.00 Mil   
2027 Net Interest MarginReported4.3%4.4%4.5%   
2026 Loan GrowthReported6.0%7.0%8.0% 3.0%RaisedGuidance: 4.0% for 2026
2026 Net Interest MarginReported4.2%4.25%4.3% 0.0%RaisedGuidance: 4.2% for 2026


Prior: Q2 2026 Earnings Reported 7/27/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Fee-based IncomeReported28.00 Mil29.00 Mil30.00 Mil0 AffirmedGuidance: 29.00 Mil for 2026
2026 Loan GrowthReported3.0%4.0%5.0% 0AffirmedGuidance: 4.0% for 2026
2026 Net Interest MarginReported4.1%4.2%4.3% 0.1%RaisedGuidance: 4.1% for 2026
2026 Non-interest ExpenseReported73.00 Mil74.00 Mil75.00 Mil0 AffirmedGuidance: 74.00 Mil for 2026

Q1 2026 Earnings Reported 4/27/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Fee-based IncomeReported28.00 Mil29.00 Mil30.00 Mil   
2026 Loan GrowthReported3.0%4.0%5.0% 0.0%AffirmedGuidance: 4.0% for 2026
2026 Net Interest MarginReported4.0%4.1%4.2% 0.0%AffirmedGuidance: 4.1% for 2026
2026 Non-interest ExpenseReported73.00 Mil74.00 Mil75.00 Mil   
2027 EPS AccretionReported 0.2    

Q4 2025 Earnings Reported 1/26/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Quarterly Fee-Based IncomeReported28.00 Mil29.00 Mil30.00 Mil3.6% RaisedGuidance: 28.00 Mil for Q1 2026
Q2 2026 Quarterly Non-Interest ExpenseReported72.00 Mil73.00 Mil74.00 Mil1.4% RaisedGuidance: 72.00 Mil for Q2 2026
2026 Loan GrowthReported3.0%4.0%5.0% 0.0%AffirmedGuidance: 4.0% for 2026
2026 Net Interest MarginReported4.0%4.1%4.2% 0.0%AffirmedGuidance: 4.1% for 2026

Insider Activity

Updated 10/27/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Smith, Dwight Eric DirectBuy1027202638.6630011,596408,049Form
2Augenstein, MarkEVP, OperationsDirectSell1027202637.882,00075,760942,627Form
3Donlon, Hugh JEVP, Community BankingDirectSell1023202638.122,650101,013700,046Form
4Edgell, MatthewChief of StaffDirectSell807202641.273,000123,825833,034Form
5Donlon, Hugh JEVP, Community BankingDirectSell727202639.8750019,935931,572Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Smith, Dwight Eric DirectBuy1027202638.6630011,596408,049Form
2Augenstein, MarkEVP, OperationsDirectSell1027202637.882,00075,760942,627Form
3Donlon, Hugh JEVP, Community BankingDirectSell1023202638.122,650101,013700,046Form
4Edgell, MatthewChief of StaffDirectSell807202641.273,000123,825833,034Form
5Donlon, Hugh JEVP, Community BankingDirectSell727202639.8750019,935931,572Form
6Smith, Dwight Eric DirectBuy727202639.811,00039,810408,297Form
7Smith, Dwight Eric DirectBuy428202634.511,00034,510319,431Form
8Schneeberger, Carol ADirectSell316202631.411,00031,410575,086Form
9Schneeberger, Carol ADirectSell313202631.371,89559,446605,723Form
10Kirkham, Michael RyanEVP/General CounselDirectSell304202632.4798632,016528,925Form
11Schneeberger, Carol ADirectSell209202633.921,00033,920719,240Form
12Beam, S Craig DirectBuy123202631.651574,969843,957Form
13Smith, Dwight Eric DirectBuy123202632.6250016,310267,451Form
14Schneeberger, Carol ADirectSell109202630.601,00030,600679,442Form
15Schneeberger, Carol ADirectSell1208202530.271,00030,270689,157Form
16Smith, Dwight Eric DirectBuy1125202528.562005,712219,883Form
17Reeves, Kevin R DirectBuy1112202529.111,25036,381379,961Form
18Hogan, W Glenn DirectBuy1110202528.491,00028,49015,248,959Form
19Wilcox, Tyler JChief Executive OfficerDirectBuy1105202528.391604,5421,393,943Form
20Hogan, W Glenn DirectBuy1104202528.821,00028,82015,396,768Form
21Smith, Dwight Eric DirectBuy1024202529.7650014,882223,204Form
22Schneeberger, Carol ADirectSell1008202530.221,00030,220718,239Form
Core Cache Last Updated: 11/4/2026