Peoples Bancorp price target raised to $41 from $37 at Piper Sandler

Piper Sandler raised the firm’s price target on Peoples Bancorp (PEBO) to $41 from $37 and keeps an Overweight rating on the shares. The firm notes the company generated solid results in Q1 as stronger net interest margin and well-managed operating expenses drove 8% PPNR upside. Piper is also positive on Peoples Bancorp’s announced acquisition of CZNL, which adds a high-quality, low-cost deposit base and liquid balance sheet at attractive pricing.