Peoples Financial Services (NASDAQ:PFIS) Hits New 1-Year High – Should You Buy?

Peoples Financial Services Corp. (NASDAQ:PFIS) hit a new 52-week high during trading on Thursday . The company traded as high as $68.95 and last traded at $69.3250, with a volume of 2717 shares changing hands. The stock had previously closed at $67.74.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Financial Services in a research note on Tuesday, June 9th. Hovde Group boosted their target price on Peoples Financial Services from $59.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Peoples Financial Services presently has a consensus rating of “Hold” and an average target price of $58.50.

Peoples Financial Services Stock Performance

The firm has a fifty day moving average price of $62.53 and a 200 day moving average price of $56.86. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The firm has a market cap of $688.06 million, a PE ratio of 7.61 and a beta of 0.76.

Peoples Financial Services (NASDAQ:PFIS) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.11). Peoples Financial Services had a net margin of 21.29% and a return on equity of 18.06%. The firm had revenue of $92.63 million during the quarter, compared to analysts’ expectations of $49.95 million.

Peoples Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.50 annualized dividend and a dividend yield of 3.6%. Peoples Financial Services’s dividend payout ratio is 27.69%.

Institutional Trading of Peoples Financial Services

Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in Peoples Financial Services in the third quarter worth approximately $37,000. Raymond James Financial Inc. purchased a new stake in Peoples Financial Services in the second quarter valued at $44,000. CANADA LIFE ASSURANCE Co raised its position in Peoples Financial Services by 27.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 941 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 204 shares during the period. BNP Paribas Financial Markets increased its position in shares of Peoples Financial Services by 59.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 360 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Peoples Financial Services during the 4th quarter worth about $63,000. Hedge funds and other 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.