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

Peoples Financial Services (NASDAQ:PFIS) posted its earnings results on Thursday. The financial services provider reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.16), FiscalAI reports. The firm had revenue of $52.14 million during the quarter, compared to the consensus estimate of $52.35 million. Peoples Financial Services had a return on equity of 18.06% and a net margin of 21.29%.

Peoples Financial Services Trading Down 1.4%

Peoples Financial Services stock traded down $0.99 during mid-day trading on Friday, hitting $70.12. The stock had a trading volume of 132,275 shares, compared to its average volume of 51,333. The stock has a 50-day simple moving average of $64.68 and a two-hundred day simple moving average of $58.25. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $701.90 million, a PE ratio of 7.79 and a beta of 0.76. Peoples Financial Services has a 12 month low of $43.64 and a 12 month high of $73.37.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Hovde Group upped their price objective on shares of Peoples Financial Services from $59.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Financial Services in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PFIS. Dimensional Fund Advisors LP raised its stake in shares of Peoples Financial Services by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 298,966 shares of the financial services provider’s stock worth $14,563,000 after buying an additional 14,333 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Peoples Financial Services by 7.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 73,794 shares of the financial services provider’s stock worth $3,595,000 after buying an additional 4,867 shares during the period. Empowered Funds LLC increased its stake in shares of Peoples Financial Services by 10.6% in the 4th quarter. Empowered Funds LLC now owns 50,894 shares of the financial services provider’s stock valued at $2,479,000 after acquiring an additional 4,867 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Peoples Financial Services by 13.9% during the fourth quarter. Wells Fargo & Company MN now owns 36,613 shares of the financial services provider’s stock valued at $1,783,000 after purchasing an additional 4,460 shares during the period. Finally, First Trust Advisors LP increased its stake in Peoples Financial Services by 429.7% in the third quarter. First Trust Advisors LP now owns 33,886 shares of the financial services provider’s stock valued at $1,647,000 after purchasing an additional 27,489 shares in the last quarter. 31.67% of the stock is currently 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.