Hovde Group Issues Positive Forecast for Peoples Financial Services (NASDAQ:PFIS) Stock Price

Peoples Financial Services (NASDAQ:PFIS) had its price objective boosted by equities research analysts at Hovde Group from $61.00 to $75.00 in a research note issued on Tuesday. The firm presently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s target price suggests a potential upside of 6.72% from the company’s previous close.

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Financial Services in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $65.50.

Peoples Financial Services Stock Performance

Shares of Peoples Financial Services stock opened at $70.28 on Tuesday. 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 firm has a market cap of $703.50 million, a price-to-earnings ratio of 7.96 and a beta of 0.75. The stock’s 50-day moving average is $65.12 and its 200-day moving average is $58.55. Peoples Financial Services has a one year low of $43.64 and a one year high of $73.37.

Peoples Financial Services (NASDAQ:PFIS) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.16). Peoples Financial Services had a return on equity of 17.42% and a net margin of 20.66%.The firm had revenue of $52.14 million for the quarter, compared to the consensus estimate of $52.35 million.

Institutional Investors Weigh In On Peoples Financial Services

Hedge funds have recently modified their holdings of the company. Alliance Wealth Advisors LLC lifted its holdings in shares of Peoples Financial Services by 0.5% during 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 boosted its position in shares of Peoples Financial Services by 116.0% during the 1st quarter. Royal Bank of Canada now owns 5,527 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 2,968 shares in the last quarter. Empowered Funds LLC grew its stake in Peoples Financial Services by 9.7% during the first quarter. Empowered Funds LLC now owns 55,811 shares of the financial services provider’s stock worth $2,976,000 after purchasing an additional 4,917 shares during the period. Quantinno Capital Management LP increased its holdings in Peoples Financial Services by 41.2% in the first quarter. Quantinno Capital Management LP now owns 16,362 shares of the financial services provider’s stock worth $873,000 after purchasing an additional 4,774 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Peoples Financial Services by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 316,621 shares of the financial services provider’s stock worth $16,886,000 after purchasing an additional 17,655 shares in the last quarter. Institutional investors and hedge funds own 31.67% of the company’s stock.

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.