Hovde Group Trims Peoples Financial Services (NASDAQ:PFIS) Target Price to $43.00

Peoples Financial Services (NASDAQ:PFIS) had its price target cut by Hovde Group from $48.00 to $43.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have a market perform rating on the financial services provider’s stock.

Peoples Financial Services Trading Up 3.0 %

NASDAQ:PFIS opened at $39.20 on Monday. The stock has a fifty day simple moving average of $39.41 and a 200 day simple moving average of $42.31. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $276.71 million, a price-to-earnings ratio of 12.02 and a beta of 0.48. Peoples Financial Services has a 1-year low of $34.54 and a 1-year high of $49.99.

Peoples Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.18%. Peoples Financial Services’s dividend payout ratio is currently 50.31%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PFIS. SG Americas Securities LLC boosted its position in Peoples Financial Services by 7.7% during the 4th quarter. SG Americas Securities LLC now owns 3,739 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 268 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Peoples Financial Services by 13.5% in the third quarter. Commonwealth Equity Services LLC now owns 8,031 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 956 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Peoples Financial Services by 2.4% during the third quarter. Bank of New York Mellon Corp now owns 46,766 shares of the financial services provider’s stock worth $1,875,000 after purchasing an additional 1,108 shares during the period. BNP Paribas Financial Markets grew its position in Peoples Financial Services by 87.7% during the first quarter. BNP Paribas Financial Markets now owns 3,400 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,589 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Peoples Financial Services by 7.8% in the 1st quarter. Empowered Funds LLC now owns 26,612 shares of the financial services provider’s stock valued at $1,147,000 after buying an additional 1,925 shares during the period. Hedge funds and other institutional investors own 31.67% of the company’s stock.

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.