Peoples Financial Services (NASDAQ:PFIS) Announces Quarterly Earnings Results

Key Points

• EPS miss: Peoples Financial Services reported EPS of $1.43, missing the consensus by $0.10, while revenue came in at $92.63 million versus a $49.90 million consensus.
• The board declared a quarterly dividend of $0.625 per share (annualized $2.50) implying a 4.4% yield
• Shares rose 0.7% to $56.96; the company has a market cap of $570.17M and a P/E of 6.29, while analysts' consensus is a "Hold" with an average price target of $53.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) issued its earnings results on Thursday. The financial services provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.10), FiscalAI reports. Peoples Financial Services had a net margin of 21.50% and a return on equity of 18.60%. The firm had revenue of $92.63 million during the quarter, compared to the consensus estimate of $49.90 million.

Peoples Financial Services Stock Up 0.7%

Shares of PFIS stock traded up $0.37 during trading hours on Thursday, hitting $56.96. 59,842 shares of the company were exchanged, compared to its average volume of 57,425. The business has a 50 day moving average of $54.84 and a two-hundred day moving average of $51.65. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43. Peoples Financial Services has a 52 week low of $43.24 and a 52 week high of $59.42. The company has a market capitalization of $570.17 million, a PE ratio of 6.29 and a beta of 0.77.

Peoples Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.50 annualized dividend and a dividend yield of 4.4%. Peoples Financial Services's dividend payout ratio is currently 27.62%.

Institutional Investors Weigh In On Peoples Financial Services

Several large investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV increased its position in shares of Peoples Financial Services by 25.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,504 shares of the financial services provider's stock worth $268,000 after acquiring an additional 1,124 shares in the last quarter. Empowered Funds LLC increased its position in shares of Peoples Financial Services by 10.6% during the fourth quarter. Empowered Funds LLC now owns 50,894 shares of the financial services provider's stock worth $2,479,000 after acquiring an additional 4,867 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of Peoples Financial Services by 7.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 73,794 shares of the financial services provider's stock worth $3,595,000 after acquiring an additional 4,867 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Peoples Financial Services by 12.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,573 shares of the financial services provider's stock worth $272,000 after acquiring an additional 637 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Peoples Financial Services by 7.4% during the fourth quarter. Royal Bank of Canada now owns 2,559 shares of the financial services provider's stock worth $125,000 after acquiring an additional 176 shares in the last quarter. Institutional investors own 31.67% of the company's stock.

Wall Street Analyst Weigh In

PFIS has been the subject of several recent analyst reports. Weiss Ratings raised shares of Peoples Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 27th. Stephens upped their target price on shares of Peoples Financial Services from $50.00 to $56.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Peoples Financial Services has an average rating of "Hold" and an average price target of $53.00.

About Peoples Financial Services

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.

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