Peoples Financial Services (NASDAQ:PFIS) Reaches New 52-Week High – What’s Next?

Peoples Financial Services Corp. (NASDAQ:PFIS) reached a new 52-week high on Thursday . The company traded as high as $60.74 and last traded at $59.96, with a volume of 28803 shares changing hands. The stock had previously closed at $60.10.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Peoples Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 27th. Stephens increased their target price on Peoples Financial Services from $50.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Finally, Hovde Group increased their target price on Peoples Financial Services from $59.00 to $61.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $58.50.

Peoples Financial Services Trading Down 1.0%

The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $594.75 million, a PE ratio of 6.58 and a beta of 0.77. The stock’s fifty day simple moving average is $56.75 and its 200 day simple moving average is $53.26.

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

Peoples Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, May 29th. Peoples Financial Services’s payout ratio is currently 27.69%.

Hedge Funds Weigh In On Peoples Financial Services

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new stake in shares of Peoples Financial Services in the third quarter worth about $37,000. Jones Financial Companies Lllp grew its stake in shares of Peoples Financial Services by 1,338.3% during the third quarter. Jones Financial Companies Lllp now owns 863 shares of the financial services provider’s stock valued at $43,000 after buying an additional 803 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Peoples Financial Services during the second quarter valued at approximately $44,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Peoples Financial Services by 27.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 941 shares of the financial services provider’s stock valued at $46,000 after buying an additional 204 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Peoples Financial Services by 59.1% in the second 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 in the last quarter. 31.67% of the stock is currently owned by hedge funds and other 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.