Peoples Financial Services (NASDAQ:PFIS) Sees Unusually-High Trading Volume – Here’s What Happened

by · The Cerbat Gem

Peoples Financial Services Corp. (NASDAQ:PFIS – Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 66,275 shares changed hands during mid-day trading, an increase of 55% from the previous session’s volume of 42,626 shares.The stock last traded at $57.30 and had previously closed at $57.80.

Analyst Ratings Changes

PFIS has been the subject of a number of recent research reports. Weiss Ratings raised Peoples Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 27th. Stephens boosted their target price 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. Finally, Hovde Group boosted their target price on Peoples Financial Services from $59.00 to $61.00 and gave the company 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.50.

View Our Latest Research Report on Peoples Financial Services

Peoples Financial Services Stock Up 1.6%

The stock’s fifty day moving average is $55.68 and its 200 day moving average is $52.61. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $587.59 million, a P/E ratio of 6.50 and a beta of 0.77.

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

Peoples Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.625 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.50 annualized dividend and a yield of 4.3%. Peoples Financial Services’s dividend payout ratio is 27.69%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PFIS. Royal Bank of Canada raised its position in shares of Peoples Financial Services by 116.0% in the 1st quarter. Royal Bank of Canada now owns 5,527 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 2,968 shares in the last quarter. Empowered Funds LLC raised 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 acquiring an additional 4,917 shares in the last quarter. Quantinno Capital Management LP raised 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 acquiring an additional 4,774 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $16,886,000 after acquiring an additional 17,655 shares in the last quarter. Finally, Archer Investment Corp bought a new position in shares of Peoples Financial Services in the 1st quarter worth about $267,000. 31.67% of the stock is currently owned by institutional investors.

Peoples Financial Services Company Profile

(Get Free Report)

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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