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

Shares of Peoples Financial Services Corp. (NASDAQ:PFIS) saw unusually-strong trading volume on Wednesday . 52,688 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 49,495 shares.The stock last traded at $66.08 and had previously closed at $67.05.

Analyst Ratings Changes

PFIS has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Financial Services in a report on Tuesday, June 9th. Hovde Group increased their price target on shares of 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 analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Peoples Financial Services presently has a consensus rating of “Hold” and an average price target of $58.50.

Peoples Financial Services Price Performance

The company’s 50-day simple moving average is $61.36 and its 200-day simple moving average is $56.16. 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 $659.16 million, a price-to-earnings ratio of 7.29 and a beta of 0.76.

Peoples Financial Services (NASDAQ:PFIS) last posted its earnings results 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). The firm had revenue of $92.63 million during the quarter, compared to analyst estimates 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 company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.625 dividend. The ex-dividend date was Friday, May 29th. This represents a $2.50 annualized dividend and a yield of 3.8%. Peoples Financial Services’s payout ratio is 27.69%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of Peoples Financial Services during the third quarter worth $37,000. Raymond James Financial Inc. bought a new position in Peoples Financial Services during the second quarter worth about $44,000. CANADA LIFE ASSURANCE Co increased its position in Peoples Financial Services by 27.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 941 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 204 shares during the period. BNP Paribas Financial Markets raised its stake in Peoples Financial Services by 59.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 360 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Peoples Financial Services in the 4th quarter worth about $63,000. Institutional investors 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.