Peoples Financial Services (NASDAQ:PFIS) Issues Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Peoples Financial Services (NASDAQ:PFIS) released its earnings results on Friday. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.16), FiscalAI reports. Peoples Financial Services had a net margin of 20.17% and a return on equity of 18.32%. The firm had revenue of $89.23 million during the quarter, compared to analysts’ expectations of $48.25 million.

Peoples Financial Services Stock Up 1.6%

NASDAQ PFIS traded up $0.83 on Friday, hitting $52.10. 23,161 shares of the stock traded hands, compared to its average volume of 19,529. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $50.08 and a 200 day moving average of $49.61. Peoples Financial Services has a twelve month low of $38.90 and a twelve month high of $54.20. The company has a market capitalization of $520.74 million, a P/E ratio of 6.15 and a beta of 0.81.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PFIS. Wall Street Zen downgraded shares of Peoples Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 17th. Stephens set a $50.00 price objective on Peoples Financial Services and gave the stock an “equal weight” rating in a report on Monday, December 8th. Hovde Group lowered their price objective on Peoples Financial Services from $54.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Peoples Financial Services in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PFIS. Qube Research & Technologies Ltd increased its position in Peoples Financial Services by 48.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 21,132 shares of the financial services provider’s stock valued at $1,027,000 after acquiring an additional 6,873 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Peoples Financial Services in the 3rd quarter worth approximately $213,000. Bank of America Corp DE raised its holdings in Peoples Financial Services by 7.5% during the third quarter. Bank of America Corp DE now owns 7,885 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 548 shares in the last quarter. Two Sigma Investments LP boosted its stake in Peoples Financial Services by 43.5% during the 3rd quarter. Two Sigma Investments LP now owns 17,727 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 5,370 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Peoples Financial Services by 8.2% during the 3rd quarter. Bridgeway Capital Management LLC now owns 68,927 shares of the financial services provider’s stock valued at $3,351,000 after purchasing an additional 5,237 shares during the period. 31.67% of the stock is owned by institutional investors and hedge funds.

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.