Peoples Financial Services (NASDAQ:PFIS) Sees Large Volume Increase – Here’s Why

Peoples Financial Services Corp. (NASDAQ:PFIS) saw unusually-high trading volume on Tuesday . Approximately 50,784 shares traded hands during mid-day trading, an increase of 23% from the previous session’s volume of 41,125 shares.The stock last traded at $56.6770 and had previously closed at $57.36.

Analyst Ratings Changes

PFIS has been the topic of several recent research reports. Hovde Group upped their price target on 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. Stephens upped their price target on Peoples Financial Services from $50.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings raised Peoples Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 27th. One investment 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 presently has a consensus rating of “Hold” and an average target price of $58.50.

Peoples Financial Services Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 0.96. The company has a market capitalization of $577.83 million, a PE ratio of 6.39 and a beta of 0.77. The firm has a 50-day moving average of $55.26 and a 200 day moving average of $52.26.

Peoples Financial Services (NASDAQ:PFIS) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.43 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 business had revenue of $92.63 million for the quarter, compared to analysts’ expectations of $49.95 million.

Peoples Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.50 annualized dividend and a dividend yield of 4.3%. Peoples Financial Services’s dividend payout ratio (DPR) is 27.69%.

Institutional Investors Weigh In On Peoples Financial Services

Institutional investors have recently modified their holdings of the business. Archer Investment Corp purchased a new stake in shares of Peoples Financial Services during the first quarter valued at $267,000. CANADA LIFE ASSURANCE Co lifted its holdings in Peoples Financial Services by 27.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 941 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 204 shares during the period. Strs Ohio bought a new position in Peoples Financial Services in the fourth quarter valued at about $63,000. Alliance Wealth Advisors LLC lifted its holdings in Peoples Financial Services by 19.0% in the fourth quarter. Alliance Wealth Advisors LLC now owns 44,797 shares of the financial services provider’s stock valued at $2,182,000 after acquiring an additional 7,159 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Peoples Financial Services by 29.5% in the third quarter. JPMorgan Chase & Co. now owns 10,619 shares of the financial services provider’s stock valued at $516,000 after acquiring an additional 2,420 shares during the period. 31.67% of the stock is owned by hedge funds and other 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.