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PEBO News
PEBO Events
Stephens Downgrades Capital Bancorp to Equal Weight
Stephens analyst Russell Gunther downgraded Capital Bancorp (CBNK) to Equal Weight from Overweight following the announcement of the acquisition of Capital by Peoples Bancorp (PEBO). The firm is suspending its price target, pending the merger.
Peoples Bancorp to Acquire Capital Bancorp in $728.1M All-Stock Transaction
Peoples Bancorp to acquire Capital Bancorp in $728.1M all-stock transaction
Peoples Bancorp to Acquire Capital Bancorp for $728.1 Million
Peoples Bancorp (PEBO) and Capital Bancorp (CBNK) jointly announced the signing of an agreement and plan of merger pursuant to which Peoples will acquire Capital in an all-stock transaction. Under the terms of the Merger Agreement, Capital will merge with and into Peoples, and Capital Bank, N.A. will subsequently merge with and into Peoples' wholly owned subsidiary, Peoples Bank, in a transaction valued at approximately $728.1M. Upon completion of the Merger, the combined company is expected to have approximately $14B in total assets, $10B in total loans and $11B in total deposits, with over 150 banking locations across eight states and Washington, D.C., in addition to nationwide specialty financial services platforms. According to the terms of the Merger Agreement, which has been unanimously approved by the Boards of Directors of both companies, shareholders of Capital will receive 1.11 shares of Peoples common stock for each share of Capital common stock. Based on Peoples' 20-day volume-weighted average closing price of $39.41 per share as of September 29, 2026, the aggregate transaction value is approximately $728.1M, or $43.75 per share. Former Capital shareholders are expected to collectively own approximately 32% of Peoples following completion of the Merger. The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes. The transaction is expected to be immediately accretive to Peoples' estimated earnings in 2027 before one-time costs, with a tangible book value earnback period of under three years and a pro forma return on average tangible common equity of approximately 20%. Pursuant to the Merger Agreement, three members of Capital's Board of Directors are expected to join the Peoples Board at or promptly following closing, subject to Peoples' standard corporate governance practices and director evaluation process. The acquisition is expected to close during the first half of 2027, subject to the satisfaction of customary closing conditions, including regulatory approvals and the approvals of the shareholders of Peoples and Capital.
Peoples Bancorp Receives Merger Approval with Citizens National
Peoples Bancorp announced that it has received all necessary regulatory approvals for the merger between Peoples and Citizens National Corporation, with Peoples as the surviving corporation, and for the merger between Peoples Bank and Citizens' wholly owned subsidiary, Citizens Bank of Kentucky. The Agreement and Plan of Merger dated as of April 20, 2026, between Peoples and Citizens, was approved by Citizens' shareholders on August 6, 2026.
Tech Stocks Lead Major Averages Higher, S&P 500 Up 0.89%
The major averages finished broadly higher as technology shares led gains ahead of a stretch of earnings from some of the market's largest companies.The focus this week is on corporate earnings, with Alphabet, Tesla, IBM and Intel all set to report in the coming days. Investors are looking for signs that spending on artificial intelligence continues to translate into revenue growth and profitability after recent volatility in chip stocks raised questions about lofty valuations across the sector.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:General Motorsreportedand raised its FY26 adjusted earnings guidance3Mprovided areport for Q2Hasbroalso provided areport for Q2Novo Nordiskis suing Eli LillyoverIntersnack GroupUtz Brandsfor $14.25 per share in cash2. WALL STREET CALLS:Adobeto Underweight at Morgan StanleyFive Belowto Outperform at BernsteinSalesforceto Equal Weight at Morgan StanleyRalph Laurento Outperform at Raymond JamesShopifyto Neutral at Rothschild & Co Redburn3. AROUND THE WEB:A federal judge has upheld a $634M jury verdict against Applefor infringing Masimopatents related to Apple Watch heart rate monitoring technology, Bloomberg reportsOraclemay have to face over $7B in collateral requirements after Wisconsin's power regulator tightened credit requirements, FT reportsInteltold Business Insider that it is planning layoffs within its data center groupTSMCplans to raise chipmaking prices by up to 10% from 2027 to offset rising costs for materials, manufacturing equipment and overseas plant construction, Nikkei Asia reportsTencentis in talks to acquire SuperPlay in a deal valuing the Israeli game developer at $1B-$1.5B, CTech says4. MOVERS:Forward Airhigher afterwith one of its largest customersMerlinincreases after Northlandcoverage of the stock with an Outperform ratingCoinbasegains after U.S. Treasury Secretary Scott Bessentthat the Digital Asset Market Clarity Act is nearing approval in the U.S. SenateTwenty One Capitallower after announcing CEO Jack MallersEquifaxfalls afterand raising its guidance for FY265. EARNINGS/GUIDANCE:D.R. Horton, with EPS and revenue beating consensusPeoples Bancorp, with CEO Tyler Wilcox "pleased with the results"Danaher, provided guidance for Q3 and FY26, and raised its outlook for FY26Novartis, with CEO Vas Narasimhan calling it "a solid second quarter"Calixand provided guidance for Q3 and FY26INDEXES:The Dow rose 385.38, or 0.74%, to 52,224.64, the Nasdaq gained 329.13, or 1.29%, to 25,837.21, and the S&P 500 advanced 65.92, or 0.89%, to 7,509.20.
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