Peoples Financial Services (NASDAQ:PFIS) Sets New 1-Year High – Should You Buy?

Peoples Financial Services Corp. (NASDAQ:PFIS) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $68.95 and last traded at $69.3250, with a volume of 2717 shares changing hands. The stock had previously closed at $67.74.

Analyst Ratings Changes

PFIS has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Financial Services in a research note on Tuesday, June 9th. Hovde Group lifted their price target on shares of Peoples Financial Services from $59.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.50.

Peoples Financial Services Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 0.97. The stock has a market capitalization of $696.00 million, a P/E ratio of 7.70 and a beta of 0.76. The company has a fifty day moving average of $62.12 and a two-hundred day moving average of $56.63.

Peoples Financial Services (NASDAQ:PFIS) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.11). Peoples Financial Services had a net margin of 21.29% and a return on equity of 18.06%. The firm had revenue of $92.63 million for the quarter, compared to analyst estimates of $49.95 million.

Peoples Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, May 29th. Peoples Financial Services’s dividend payout ratio is currently 27.69%.

Hedge Funds Weigh In On Peoples Financial Services

Several large investors have recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC boosted its holdings in Peoples Financial Services by 0.5% in the second quarter. Alliance Wealth Advisors LLC now owns 44,933 shares of the financial services provider’s stock worth $2,982,000 after purchasing an additional 227 shares during the period. Royal Bank of Canada raised its holdings in shares of Peoples Financial Services by 116.0% during the first quarter. Royal Bank of Canada now owns 5,527 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 2,968 shares during the period. Empowered Funds LLC lifted its position in shares of Peoples Financial Services by 9.7% in the 1st quarter. Empowered Funds LLC now owns 55,811 shares of the financial services provider’s stock worth $2,976,000 after buying an additional 4,917 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Peoples Financial Services by 41.2% in the 1st quarter. Quantinno Capital Management LP now owns 16,362 shares of the financial services provider’s stock worth $873,000 after buying an additional 4,774 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Peoples Financial Services by 5.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 316,621 shares of the financial services provider’s stock valued at $16,886,000 after buying an additional 17,655 shares during the period. 31.67% of the stock is currently owned by institutional investors.

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.