Peoples Financial Services (NASDAQ:PFIS) Hits New 1-Year High – Still a Buy?

Peoples Financial Services Corp. (NASDAQ:PFIS) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $65.09 and last traded at $64.80, with a volume of 12893 shares traded. The stock had previously closed at $64.24.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PFIS shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Peoples Financial Services in a research report on Tuesday, June 9th. Hovde Group raised their target price on shares of Peoples Financial Services from $59.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Peoples Financial Services currently has a consensus rating of “Hold” and an average price target of $58.50.

Peoples Financial Services Trading Up 0.6%

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’s 50 day moving average price is $59.50 and its 200 day moving average price is $55.10. The stock has a market capitalization of $655.73 million, a P/E ratio of 7.25 and a beta of 0.77.

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

Peoples Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, May 29th. Peoples Financial Services’s dividend payout ratio (DPR) is currently 27.69%.

Hedge Funds Weigh In On Peoples Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in Peoples Financial Services by 116.0% in the first 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 during the period. Empowered Funds LLC increased its position in Peoples Financial Services by 9.7% during the 1st quarter. Empowered Funds LLC now owns 55,811 shares of the financial services provider’s stock valued at $2,976,000 after purchasing an additional 4,917 shares during the period. Quantinno Capital Management LP raised its holdings in 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 purchasing an additional 4,774 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 purchasing an additional 17,655 shares in the last quarter. Finally, Archer Investment Corp purchased a new stake in shares of Peoples Financial Services in the 1st quarter worth about $267,000. 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.