Peoples Financial Services (NASDAQ:PFIS) Sets New 12-Month High – Should You Buy?

Peoples Financial Services Corp. (NASDAQ:PFIS) shares hit 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.

Wall Street Analysts Forecast Growth

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

Peoples Financial Services Stock Performance

The firm has a fifty day moving average of $51.02 and a 200-day moving average of $49.78. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $567.43 million, a price-to-earnings ratio of 6.28 and a beta of 0.81.

Peoples Financial Services (NASDAQ:PFIS) last announced its quarterly earnings results 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 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 18.84%. As a group, sell-side analysts anticipate that Peoples Financial Services Corp. will post 5.92 EPS for the current 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 issued a dividend of $0.625 per share. This is an increase from Peoples Financial Services’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, February 27th. This represents a $2.50 annualized dividend and a yield of 4.4%. Peoples Financial Services’s payout ratio is 27.29%.

Institutional Trading of Peoples Financial Services

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new position in shares of Peoples Financial Services during the 3rd quarter worth approximately $37,000. Jones Financial Companies Lllp grew its holdings in Peoples Financial Services by 1,338.3% during the 3rd 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. acquired a new stake in Peoples Financial Services during the 2nd quarter valued at $44,000. CWM LLC increased its position in Peoples Financial Services by 434.3% during the third quarter. CWM LLC now owns 967 shares of the financial services provider’s stock worth $47,000 after buying an additional 786 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of 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 acquiring an additional 360 shares during the last quarter. 31.67% of the stock is currently owned by institutional investors and hedge funds.

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.