Peoples Financial Services (NASDAQ:PFIS) Stock Price Down 6% on Disappointing Earnings

Peoples Financial Services Corp. (NASDAQ:PFIS) traded down 6% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $50.01 and last traded at $50.46. 4,514 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 26,853 shares. The stock had previously closed at $53.70.

The financial services provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.17). Peoples Financial Services had a return on equity of 7.73% and a net margin of 3.00%.

Peoples Financial Services Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.6175 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.47 annualized dividend and a yield of 4.92%. Peoples Financial Services’s dividend payout ratio (DPR) is presently 239.81%.

Wall Street Analyst Weigh In

PFIS has been the topic of a number of research analyst reports. Stephens upgraded shares of Peoples Financial Services from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Hovde Group boosted their price objective on shares of Peoples Financial Services from $48.00 to $53.00 and gave the company a “market perform” rating in a report on Monday, November 11th. Finally, StockNews.com raised Peoples Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

Institutional Investors Weigh In On Peoples Financial Services

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Peoples Financial Services in the third quarter valued at approximately $149,000. Alliance Wealth Advisors LLC increased its holdings in shares of Peoples Financial Services by 413.0% in the third quarter. Alliance Wealth Advisors LLC now owns 38,632 shares of the financial services provider’s stock worth $1,811,000 after purchasing an additional 31,102 shares during the period. Empowered Funds LLC boosted its position in Peoples Financial Services by 58.6% during the third quarter. Empowered Funds LLC now owns 45,345 shares of the financial services provider’s stock valued at $2,126,000 after buying an additional 16,753 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Peoples Financial Services by 45.0% during the third quarter. PNC Financial Services Group Inc. now owns 50,884 shares of the financial services provider’s stock valued at $2,385,000 after purchasing an additional 15,802 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Peoples Financial Services by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 25,641 shares of the financial services provider’s stock worth $1,202,000 after purchasing an additional 1,225 shares during the period. 31.67% of the stock is owned by institutional investors and hedge funds.

Peoples Financial Services Stock Down 6.4 %

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The firm has a market cap of $502.04 million, a PE ratio of 49.11 and a beta of 0.56. The company’s 50 day moving average price is $51.96 and its two-hundred day moving average price is $49.17.

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.