Peoples Bancorp Inc. (NASDAQ:PEBO) unwinded its third quarter earnings results on Tuesday 20th October 2020 before market open.
Key Numbers from third quarter earnings result
Quarterly income of $ 0.51 per share, from the revenue of $ 52.18 million
Analysts Estimated revenue of $ 51.15 million and $ 0.48 income per share
Earnings beat analysts estimates by $ 0.03 or 6.25 percent
Revenues outshined wall street view by $ 1.03 million or 2.01 percent
Earnings plummet 29.17 percent compared with the same quarter last year
Revenues dropped 0.50 percent versus third quarter of last year.
Chuck Sulerzyski, President and Chief Executive Officer, stated, We are pleased with the record volume of our consumer indirect loan and mortgage loan production during the quarter. We continue to make meaningful progress as it relates to cross-selling our products to both new and existing customers that we assisted with the PPP. We also successfully integrated the acquired premium finance business into our product offerings and have been able to grow that portfolio by $19 million since we closed that transaction on July 1, 2020.
