Peoples Financial Services (NASDAQ:PFIS) Trading Down 6% Following Weak Earnings

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

The financial services provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.17). Peoples Financial Services had a net margin of 3.70% and a return on equity of 8.97%.

Peoples Financial Services Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.6175 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.47 annualized dividend and a yield of 4.68%. Peoples Financial Services's dividend payout ratio (DPR) is presently 218.59%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PFIS. Stephens raised Peoples Financial Services from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. StockNews.com raised shares of Peoples Financial Services from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Hovde Group upped their price objective on shares of Peoples Financial Services from $48.00 to $53.00 and gave the stock a "market perform" rating in a research report on Monday, November 11th.

Hedge Funds Weigh In On Peoples Financial Services

Several large investors have recently modified their holdings of PFIS. SG Americas Securities LLC acquired a new stake in Peoples Financial Services during the third quarter worth approximately $149,000. RBF Capital LLC purchased a new position in shares of Peoples Financial Services in the 3rd quarter worth approximately $342,000. Barclays PLC increased its holdings in Peoples Financial Services by 304.8% during the third quarter. Barclays PLC now owns 12,270 shares of the financial services provider's stock worth $576,000 after buying an additional 9,239 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Peoples Financial Services by 60.2% in the third quarter. Stifel Financial Corp now owns 12,308 shares of the financial services provider's stock valued at $577,000 after buying an additional 4,627 shares during the period. Finally, Rhumbline Advisers raised its stake in Peoples Financial Services by 4.1% in the 4th quarter. Rhumbline Advisers now owns 13,182 shares of the financial services provider's stock valued at $675,000 after acquiring an additional 518 shares during the period. Institutional investors own 31.67% of the company's stock.

Peoples Financial Services Stock Up 2.5 %

The stock's 50 day moving average is $51.82 and its 200 day moving average is $49.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $527.72 million, a PE ratio of 46.75 and a beta of 0.56.

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.