Peoples Financial Services (NASDAQ:PFIS) Posts Earnings Results, Misses Estimates By $0.11 EPS

Peoples Financial Services (NASDAQ:PFIS) announced its quarterly earnings results on Thursday. The financial services provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.11), FiscalAI reports. The firm had revenue of $92.63 million for the quarter, compared to the consensus estimate of $49.95 million. Peoples Financial Services had a return on equity of 18.60% and a net margin of 21.50%.

Peoples Financial Services Stock Performance

Peoples Financial Services stock traded down $0.88 during trading hours on Friday, hitting $56.09. The company had a trading volume of 169,313 shares, compared to its average volume of 40,456. The firm has a market cap of $561.41 million, a PE ratio of 6.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.96. Peoples Financial Services has a one year low of $43.64 and a one year high of $59.42. The firm has a 50-day moving average of $54.84 and a 200 day moving average of $51.65.

Peoples Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, May 29th. Peoples Financial Services’s dividend payout ratio is currently 27.62%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFIS. Russell Investments Group Ltd. purchased a new position in Peoples Financial Services in the 3rd quarter worth approximately $37,000. Raymond James Financial Inc. bought a new position in Peoples Financial Services in the 2nd quarter worth $44,000. CANADA LIFE ASSURANCE Co raised its holdings in Peoples Financial Services by 27.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 941 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 204 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Peoples Financial Services by 59.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 360 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in Peoples Financial Services in the 2nd quarter worth $103,000. 31.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PFIS shares. Stephens lifted their price target on shares of Peoples Financial Services from $50.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Weiss Ratings raised shares of Peoples Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.00.

Peoples Financial Services Company Profile

Peoples Financial Services Corporation is the bank holding company for PeoplesBank, a community-focused commercial bank headquartered in Holyoke, Massachusetts. Through its wholly owned subsidiary, PeoplesBank, PFIS offers a full suite of banking services to individuals, small businesses, and commercial clients. These services include deposit accounts, consumer and residential mortgage lending, commercial and industrial lending, and treasury management solutions.

Founded in 1842, PeoplesBank has grown organically and through selective acquisitions to become a prominent community bank in Western Massachusetts and Northern Connecticut.