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

Peoples Financial Services Corp. (NASDAQ:PFIS) shares saw unusually-high trading volume on Friday . Approximately 55,595 shares traded hands during trading, an increase of 10% from the previous session’s volume of 50,528 shares.The stock last traded at $69.7160 and had previously closed at $71.11.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PFIS shares. Hovde Group increased their price objective on Peoples Financial Services from $59.00 to $61.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Financial Services in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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 0.97. The firm has a market cap of $697.75 million, a price-to-earnings ratio of 7.72 and a beta of 0.76. The stock has a 50-day moving average price of $64.68 and a 200 day moving average price of $58.25.

Peoples Financial Services (NASDAQ:PFIS) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.16). Peoples Financial Services had a return on equity of 18.06% and a net margin of 21.29%.The firm had revenue of $52.14 million for the quarter, compared to analysts’ expectations of $52.35 million.

Institutional Investors Weigh In On Peoples Financial Services

Several hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new position in shares of Peoples Financial Services in the third quarter valued at approximately $37,000. Raymond James Financial Inc. purchased a new position in Peoples Financial Services during the 2nd quarter worth $44,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Peoples Financial Services by 27.7% in the 4th 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 boosted its holdings in shares of Peoples Financial Services by 59.1% in the second quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 360 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Peoples Financial Services in the fourth quarter valued at about $63,000. Institutional investors and hedge funds 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.