Peoples Financial Services (NASDAQ:PFIS) Reaches New 52-Week High on Better-Than-Expected Earnings

Key Points

• Peoples Financial Services shares hit a new 52-week high, reaching $74.00 after the company reported quarterly earnings of $1.90 per share, beating analysts’ $1.71 consensus estimate by $0.19.
• The company declared a quarterly dividend of $0.625 per share, equivalent to $2.50 annually and a 3.4% yield, with a payout ratio of 41.39%.
• Analysts maintain a generally cautious outlook: PFIS has a consensus “Hold” rating and an average price target of $65.50, below its recent trading level.

Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $74.00 and last traded at $73.7450, with a volume of 36,708 shares changing hands. The stock had previously closed at $70.32.

The financial services provider reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. The business had revenue of $52.97 million during the quarter, compared to analyst estimates of $53.80 million. Peoples Financial Services had a net margin of 20.51% and a return on equity of 11.76%.

Peoples Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a $0.6250 dividend. This represents a $2.50 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, November 30th. Peoples Financial Services's payout ratio is presently 41.39%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PFIS shares. Hovde Group boosted their price objective on shares of Peoples Financial Services from $61.00 to $75.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 4th. Weiss Ratings restated a "buy (b)" rating on shares of Peoples Financial Services in a research note on Friday, September 4th. Finally, Zacks Research upgraded Peoples Financial Services to a "hold" rating in a research note on Thursday, September 24th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $65.50.

Institutional Investors Weigh In On Peoples Financial Services

Several large investors have recently added to or reduced their stakes in PFIS. Legal & General Group Plc bought a new position in shares of Peoples Financial Services during the 2nd quarter worth about $61,000. Ieq Capital LLC bought a new stake in Peoples Financial Services in the second quarter worth about $201,000. Van Hulzen Asset Management LLC bought a new position in Peoples Financial Services during the second quarter valued at $215,000. Man Group plc bought a new position in shares of Peoples Financial Services during the 2nd quarter worth $233,000. Finally, Archer Investment Corp purchased a new stake in Peoples Financial Services in the 1st quarter worth about $267,000. Institutional investors and hedge funds own 31.67% of the company's stock.

Peoples Financial Services Stock Up 4.7%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $737.20 million, a P/E ratio of 12.19 and a beta of 0.75. The stock has a 50 day moving average of $69.76 and a 200-day moving average of $62.12.

About Peoples Financial Services

Peoples Financial Services Corp. is the bank holding company for Peoples Security Bank and Trust Company, a community banking institution headquartered in Scranton, Pennsylvania. The bank provides financial services to individuals, businesses, nonprofit organizations and municipal customers.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, business loans, lines of credit and other treasury-management services.

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