Peoples Financial Services Corp. (NASDAQ:PFIS – Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $59.21 and traded as high as $64.42. Peoples Financial Services shares last traded at $64.24, with a volume of 49,314 shares.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Peoples Financial Services in a research note on Tuesday, June 9th. Hovde Group lifted their target price on Peoples Financial Services from $59.00 to $61.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $58.50.
Read Our Latest Report on PFIS
Peoples Financial Services Stock Performance
Peoples Financial Services (NASDAQ:PFIS – Get Free Report) 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 firm had revenue of $92.63 million for the quarter, compared to analysts’ expectations of $49.95 million.
Peoples Financial Services Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.50 annualized dividend and a dividend yield of 3.9%. Peoples Financial Services’s dividend payout ratio (DPR) is currently 27.69%.
Hedge Funds Weigh In On Peoples Financial Services
Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted 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 acquiring an additional 176 shares during the period. CANADA LIFE ASSURANCE Co grew its stake 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 purchasing an additional 204 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Peoples Financial Services by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,513 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 234 shares during the period. BNP Paribas Financial Markets increased its position in shares of Peoples Financial Services by 59.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 360 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Peoples Financial Services by 2.6% during the 4th quarter. Barclays PLC now owns 14,507 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 373 shares during the period. 31.67% of the stock is owned by institutional investors.
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.
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