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

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

Peoples Financial Services Price Performance

PFIS traded down $0.59 on Thursday, reaching $71.11. The company had a trading volume of 33,308 shares, compared to its average volume of 63,143. The company has a fifty day moving average of $64.68 and a 200-day moving average of $58.25. The company has a market capitalization of $711.81 million, a P/E ratio of 7.87 and a beta of 0.76. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. Peoples Financial Services has a one year low of $43.64 and a one year high of $73.37.

Wall Street Analyst Weigh In

PFIS has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Financial Services in a research report on Tuesday, June 9th. Hovde Group raised their target price on Peoples Financial Services from $59.00 to $61.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Peoples Financial Services has a consensus rating of “Hold” and an average target price of $58.50.

Institutional Trading of Peoples Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in PFIS. Barclays PLC boosted its holdings in shares of Peoples Financial Services by 2.6% in the fourth quarter. Barclays PLC now owns 14,507 shares of the financial services provider’s stock valued at $707,000 after acquiring an additional 373 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Peoples Financial Services by 5.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,173 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 856 shares in the last quarter. Two Sigma Investments LP raised its holdings in Peoples Financial Services by 43.5% during the third quarter. Two Sigma Investments LP now owns 17,727 shares of the financial services provider’s stock worth $862,000 after purchasing an additional 5,370 shares in the last quarter. American Century Companies Inc. lifted its position in Peoples Financial Services by 4.1% in the second quarter. American Century Companies Inc. now owns 19,417 shares of the financial services provider’s stock worth $959,000 after purchasing an additional 765 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in Peoples Financial Services by 48.2% in the third quarter. Qube Research & Technologies Ltd now owns 21,132 shares of the financial services provider’s stock worth $1,027,000 after purchasing an additional 6,873 shares during the period. 31.67% of the stock is currently 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.