Peoples Financial Services (NASDAQ:PFIS) Sets New 52-Week High – Here’s What Happened

Peoples Financial Services Corp. (NASDAQ:PFIS)’s share price reached a new 52-week high on Wednesday . The company traded as high as $57.93 and last traded at $57.0270, with a volume of 11684 shares changing hands. The stock had previously closed at $56.00.

Analysts Set New Price Targets

Several analysts have recently commented 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 shares of Peoples Financial Services from $50.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.00.

Peoples Financial Services Stock Performance

The company’s fifty day moving average price is $54.01 and its 200 day moving average price is $50.62. The company has a market cap of $569.54 million, a PE ratio of 6.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.96.

Peoples Financial Services (NASDAQ:PFIS) last announced its earnings results on Friday, January 30th. The financial services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.16). The firm had revenue of $89.23 million during the quarter, compared to analysts’ expectations of $48.25 million. Peoples Financial Services had a net margin of 21.50% and a return on equity of 18.60%. On average, equities research analysts predict that Peoples Financial Services Corp. will post 5.92 earnings per share for the current year.

Peoples Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 4.4%. This is a boost from Peoples Financial Services’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, February 27th. Peoples Financial Services’s dividend payout ratio is 27.62%.

Institutional Trading of Peoples Financial Services

Large investors have recently added to or reduced their stakes in the stock. Fourthstone LLC purchased a new stake in Peoples Financial Services during the second quarter worth about $568,000. Royal Bank of Canada increased its holdings in Peoples Financial Services by 7.4% during the fourth quarter. Royal Bank of Canada now owns 2,559 shares of the financial services provider’s stock worth $125,000 after buying an additional 176 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Peoples Financial Services by 896.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,452 shares of the financial services provider’s stock worth $121,000 after buying an additional 2,206 shares during the last quarter. State of Tennessee Department of Treasury purchased a new stake in Peoples Financial Services during the second quarter worth about $103,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in 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 worth $46,000 after buying an additional 204 shares during the last quarter. 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.