Peoples Financial Services Corp. (NASDAQ:PFIS) Sees Significant Increase in Short Interest

by · The Markets Daily

Peoples Financial Services Corp. (NASDAQ:PFISGet Free Report) saw a significant increase in short interest in 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. Approximately 1.4% of the company’s shares are short sold. Based on an average daily volume of 23,421 shares, the days-to-cover ratio is presently 5.7 days. Based on an average daily volume of 23,421 shares, the days-to-cover ratio is presently 5.7 days. Approximately 1.4% of the company’s shares are short sold.

Peoples Financial Services Stock Down 0.6%

Shares of NASDAQ:PFIS traded down $0.30 during midday trading on Tuesday, reaching $52.21. 11,337 shares of the company were exchanged, compared to its average volume of 28,887. The firm has a market cap of $521.55 million, a PE ratio of 5.78 and a beta of 0.78. Peoples Financial Services has a fifty-two week low of $38.90 and a fifty-two week high of $57.71. The stock has a fifty day simple moving average of $53.00 and a two-hundred day simple moving average of $50.54. 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 (NASDAQ:PFISGet Free Report) last announced its earnings results on Friday, January 30th. The financial services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.16). Peoples Financial Services had a return on equity of 18.84% and a net margin of 21.50%.The company had revenue of $89.23 million during the quarter, compared to analyst estimates of $48.25 million. As a group, sell-side analysts forecast that Peoples Financial Services will post 5.92 earnings per share for the current year.

Peoples Financial Services Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings upgraded shares of Peoples Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report 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, Wall Street Zen downgraded Peoples Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $53.00.

View Our Latest Research Report on PFIS

Institutional Investors Weigh In On Peoples Financial Services

Institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of Peoples Financial Services by 25.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,504 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 1,124 shares during the last quarter. Empowered Funds LLC boosted its holdings in Peoples Financial Services by 10.6% during the fourth quarter. Empowered Funds LLC now owns 50,894 shares of the financial services provider’s stock worth $2,479,000 after purchasing an additional 4,867 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in Peoples Financial Services by 7.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 73,794 shares of the financial services provider’s stock worth $3,595,000 after purchasing an additional 4,867 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Peoples Financial Services by 12.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,573 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 637 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Peoples Financial Services by 7.4% in the 4th quarter. Royal Bank of Canada now owns 2,559 shares of the financial services provider’s stock valued at $125,000 after buying an additional 176 shares during the last quarter. Institutional investors own 31.67% of the company’s stock.

About Peoples Financial Services

(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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