Peoples Financial Services (NASDAQ:PFIS) Hits New 1-Year High – Here’s Why

Shares of Peoples Financial Services Corp. (NASDAQ:PFIS) reached a new 52-week high on Wednesday . The company traded as high as $57.00 and last traded at $56.2990, with a volume of 4016 shares changing hands. The stock had previously closed at $55.30.

Analysts Set New Price Targets

PFIS has been the subject of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Peoples Financial Services in a research report on Thursday, January 22nd. Stephens lifted their price objective on Peoples Financial Services from $50.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday. Hovde Group lowered their price objective on shares of Peoples Financial Services from $54.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Finally, Wall Street Zen downgraded shares of Peoples Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 17th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $53.00.

Peoples Financial Services Stock Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $51.26 and its 200-day moving average is $49.87. The company has a market capitalization of $568.23 million, a P/E ratio of 6.29 and a beta of 0.81.

Peoples Financial Services (NASDAQ:PFIS) last posted its quarterly earnings data on Friday, January 30th. The financial services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.16). The company had revenue of $89.23 million for the quarter, compared to the consensus estimate of $48.25 million. Peoples Financial Services had a net margin of 21.50% and a return on equity of 18.84%. Equities analysts anticipate that Peoples Financial Services Corp. will post 5.92 EPS for the current fiscal year.

Peoples Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, February 27th. This represents a $2.50 annualized dividend and a yield of 4.4%. This is a positive change from Peoples Financial Services’s previous quarterly dividend of $0.62. Peoples Financial Services’s dividend payout ratio (DPR) is 27.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFIS. Russell Investments Group Ltd. bought a new position in shares of Peoples Financial Services during the 3rd quarter valued at $37,000. Jones Financial Companies Lllp boosted its position in shares of Peoples Financial Services by 1,338.3% in the third quarter. Jones Financial Companies Lllp now owns 863 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 803 shares during the period. Raymond James Financial Inc. purchased a new stake in Peoples Financial Services in the 2nd quarter worth $44,000. CWM LLC lifted its holdings in Peoples Financial Services by 434.3% in the 3rd quarter. CWM LLC now owns 967 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 786 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Peoples Financial Services by 59.1% during the second quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 31.67% of the company’s stock.

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.