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

Peoples Financial Services (NASDAQ:PFIS) issued its quarterly earnings results on Thursday. The financial services provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.16), FiscalAI reports. The business had revenue of $52.14 million for the quarter, compared to analysts’ expectations of $52.35 million. Peoples Financial Services had a net margin of 20.66% and a return on equity of 17.42%.

Peoples Financial Services Price Performance

NASDAQ:PFIS traded down $0.75 during mid-day trading on Friday, hitting $70.36. 172,577 shares of the stock traded hands, compared to its average volume of 59,158. The business’s 50-day moving average price is $64.90 and its 200 day moving average price is $58.34. The company has a market cap of $704.30 million, a PE ratio of 7.97 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. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.43.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in shares of Peoples Financial Services in the third quarter worth $37,000. Raymond James Financial Inc. purchased a new position in shares of Peoples Financial Services during the second quarter worth about $44,000. CANADA LIFE ASSURANCE Co increased its position in shares of Peoples Financial Services by 27.7% in the fourth 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 during the last quarter. BNP Paribas Financial Markets increased its position in shares of Peoples Financial Services by 59.1% in the second 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 during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in Peoples Financial Services in the second quarter valued at approximately $103,000. 31.67% of the stock is owned by institutional investors.

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.