Peoples Bancorp price target lowered to $33 from $36 at Stephens

Stephens lowered the firm’s price target on Peoples Bancorp to $33 from $36 and keeps an Equal Weight rating on the shares. After reviewing Q2 data for Midwest Banks, the firm concluded the upward movement in price last month was supported by “better-than-expected” results due to NIM expansion, positive operating leverage, and gradual normalization of credit trends, the analyst tells investors.