Regional banking company Peoples Bancorp (NASDAQ: PEBO) will be reporting results this Tuesday before the bell. Here’s what you need to know.
Peoples Bancorp beat analysts’ revenue expectations last quarter, reporting revenues of $119.6 million, up 5.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ tangible book value per share estimates and a narrow beat of analysts’ revenue estimates.
Is Peoples Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Peoples Bancorp’s revenue to grow 5.1% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Peoples Bancorp has a history of exceeding Wall Street’s expectations.
Looking at Peoples Bancorp’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. BancFirst delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 1%, and KeyCorp reported revenues up 10.2%, topping estimates by 0.7%. BancFirst traded up 3.6% following the results while KeyCorp was also up 1.1%.
Read our full analysis of BancFirst’s results here and KeyCorp’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 9.9% on average over the last month. Peoples Bancorp is up 7.5% during the same time and is heading into earnings with an average analyst price target of $35.50 (compared to the current share price of $34.40).
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