Peoples Bancorp

PEBO · NASDAQ

$37.56+$1.09 (+2.99%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $36.47

PEBO analyst rating

BuyConsensus of 3 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy2
Hold1
Underperform0
Sell0

12-month price target · 9 analysts

Average $42.80 (+14.0% upside)

Low: $36.36
Now: $37.56
High: $48.30

Upgrades and downgrades

The latest rating actions, newest first

PEBO analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
DA Davidson	Oct 1, 2026	Maintains	Buy	$44.00 → $42.00	50%
Keefe, Bruyette & Woods	Jul 22, 2026	Maintains	Market Perform	$38.00 → $42.00	68%
DA Davidson	Jul 22, 2026	Maintains	Buy	$41.00 → $44.00	50%
Piper Sandler	Jun 26, 2026	Maintains	Overweight	$41.00 → $43.00	72%
Piper Sandler	Apr 23, 2026	Maintains	Overweight	$37.00 → $41.00	72%
DA Davidson	Apr 22, 2026	Maintains	Buy	$37.00 → $38.00	50%
Piper Sandler	Oct 22, 2025	Maintains	Overweight	$36.00 → $33.50	72%
DA Davidson	Oct 22, 2025	Initiates	Buy	$35.00 → $33.00	50%

The case for and against

Updated Oct 21, 2026

Bull case

Peoples Bancorp is viewed favorably because the pending Citizens acquisition and CBNK deal lift pro forma assets to $14.3B, loans to $10.8B, and deposits to $11.8B while expanding revenue into higher-margin national business lines that complement its legacy commercial model. The company is also demonstrating solid execution, with 2Q26 core EPS of $0.96 versus an $0.86 estimate, NII up 2.6% to $92.7M, and NIM widening 7bp to 4.23% on lower deposit costs and disciplined expenses. Although the transactions add some credit and integration risk, management’s outlook for a 5%+ NIM in 2027, about 1.79% ROAA, and roughly 20% ROATCE supports a positive fundamental view.

Bear case

Peoples Bancorp is facing a cautious fundamental setup because the expected 2027 EPS lift to $4.25 still falls short of management’s 19% accretion view, implying only partial cost-savings realization and less than a full year of merger leverage from the combined franchise. Credit quality looks broadly stable, but NPAs/TA rose 2bp to 43bp and criticized loans increased to 4.01% of total loans, while deposit balances fell 10.0% LQA amid runoff in retail CDs, governmental deposits, and brokered deposits. Although loans grew 3.0% LQA, that pace still points to the lower end of the 3-5% range, and CBNK integration and operational risks, along with a roughly 9% pullback in KRX, support a negative outlook.

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