Peoples Financial Services (NASDAQ:PFIS) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Key Points

• Peoples Financial Services reported a quarterly EPS of $1.69, exceeding expectations by $0.21 and achieving a revenue of $48.44 million, surpassing the analyst forecast of $46.75 million.
• The company's stock dropped 3.7% following the earnings report, with shares trading at $46.90 and a market capitalization of approximately $469 million.
• Peoples Financial Services announced a quarterly dividend of $0.6175, which reflects an annualized dividend yield of 5.3% and a payout ratio of 115.96%.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.48 by $0.21, Zacks reports. Peoples Financial Services had a net margin of 11.80% and a return on equity of 12.32%. The business had revenue of $48.44 million during the quarter, compared to analyst estimates of $46.75 million.

Peoples Financial Services Stock Down 3.7%

Shares of Peoples Financial Services stock traded down $1.81 on Friday, reaching $46.90. The stock had a trading volume of 30,745 shares, compared to its average volume of 35,430. The company has a 50 day moving average price of $49.77 and a 200 day moving average price of $48.06. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.27. Peoples Financial Services has a 1 year low of $38.90 and a 1 year high of $59.70. The stock has a market capitalization of $469 million, a P/E ratio of 14.00 and a beta of 0.79.

Peoples Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.6175 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.3%. Peoples Financial Services's payout ratio is presently 115.96%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Peoples Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Peoples Financial Services by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,513 shares of the financial services provider's stock worth $245,000 after purchasing an additional 234 shares during the last quarter. Royal Bank of Canada grew its position in Peoples Financial Services by 44.8% during the 1st quarter. Royal Bank of Canada now owns 8,198 shares of the financial services provider's stock worth $364,000 after purchasing an additional 2,538 shares during the last quarter. Jane Street Group LLC purchased a new stake in Peoples Financial Services during the 1st quarter worth approximately $467,000. Finally, Empowered Funds LLC grew its position in Peoples Financial Services by 7.1% during the 1st quarter. Empowered Funds LLC now owns 40,651 shares of the financial services provider's stock worth $1,808,000 after purchasing an additional 2,679 shares during the last quarter. Hedge funds and other institutional investors own 31.67% of the company's stock.

About Peoples Financial Services

Peoples Financial Services Corp. operates as the bank holding company for Peoples Security Bank and Trust Company that provides various commercial and retail banking services. The company accepts money market, negotiable order of withdrawal, savings, individual retirement, demand deposit, and certificates of deposit accounts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.