Short Interest in Peoples Financial Services Corp. (NASDAQ:PFIS) Grows By 22.4%

Peoples Financial Services Corp. (NASDAQ:PFIS) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 132,487 shares, an increase of 22.4% from the February 12th total of 108,247 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily volume of 23,421 shares, the short-interest ratio is presently 5.7 days. Based on an average daily volume of 23,421 shares, the short-interest ratio is presently 5.7 days. Currently, 1.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in Peoples Financial Services in the third quarter valued at about $37,000. Jones Financial Companies Lllp grew its stake in 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 worth $43,000 after buying an additional 803 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Peoples Financial Services during the second quarter worth about $44,000. CANADA LIFE ASSURANCE Co increased its holdings in Peoples Financial Services by 27.7% in the 4th 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 period. Finally, CWM LLC raised its position in shares of Peoples Financial Services by 434.3% in the 3rd quarter. CWM LLC now owns 967 shares of the financial services provider’s stock valued at $47,000 after buying an additional 786 shares in the last quarter. Institutional investors own 31.67% of the company’s stock.

Peoples Financial Services Stock Performance

Shares of PFIS traded up $0.28 during mid-day trading on Monday, hitting $52.51. 26,259 shares of the company’s stock were exchanged, compared to its average volume of 29,259. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.45. Peoples Financial Services has a 52 week low of $38.90 and a 52 week high of $57.71. The stock’s 50-day simple moving average is $52.92 and its 200-day simple moving average is $50.55. The firm has a market cap of $524.57 million, a price-to-earnings ratio of 5.80 and a beta of 0.78.

Peoples Financial Services (NASDAQ:PFIS) last issued its quarterly earnings results on Friday, January 30th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.16). The company had revenue of $89.23 million during the quarter, compared to the consensus estimate of $48.25 million. Peoples Financial Services had a net margin of 21.50% and a return on equity of 18.84%. On average, equities research analysts expect that Peoples Financial Services will post 5.92 EPS for the current year.

Peoples Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, February 27th. This is a positive change from Peoples Financial Services’s previous quarterly dividend of $0.62. Peoples Financial Services’s dividend payout ratio is currently 27.62%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PFIS. Stephens boosted their price target on Peoples Financial Services from $50.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Wall Street Zen downgraded Peoples Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 17th. Finally, Weiss Ratings raised shares of Peoples Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.00.

About Peoples Financial Services

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.