Peoples Financial Services (NASDAQ:PFIS) Price Target Raised to $61.00 at Hovde Group

Peoples Financial Services (NASDAQ:PFIS) had its price target lifted by stock analysts at Hovde Group from $59.00 to $61.00 in a research note issued to investors on Monday. The firm currently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s target price would indicate a potential upside of 7.56% from the stock’s current price.

PFIS has been the topic of several other reports. Weiss Ratings raised Peoples Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Stephens increased their target price on Peoples Financial Services from $50.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.50.

Peoples Financial Services Stock Performance

PFIS stock opened at $56.71 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43. The firm has a market cap of $567.67 million, a P/E ratio of 6.28 and a beta of 0.77. Peoples Financial Services has a 12-month low of $43.64 and a 12-month high of $59.42. The stock’s 50 day simple moving average is $54.84 and its 200 day simple moving average is $51.71.

Peoples Financial Services (NASDAQ:PFIS) last posted its quarterly 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 firm had revenue of $92.63 million for 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 18.21%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Peoples Financial Services by 7.4% during the fourth 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 in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake 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 valued at $46,000 after buying an additional 204 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Peoples Financial Services by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,513 shares of the financial services provider’s stock valued at $245,000 after buying an additional 234 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Peoples Financial Services by 59.1% during the second quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider’s stock valued at $48,000 after buying an additional 360 shares in the last quarter. Finally, Barclays PLC boosted its stake in Peoples Financial Services by 2.6% during the fourth quarter. Barclays PLC now owns 14,507 shares of the financial services provider’s stock valued at $707,000 after buying an additional 373 shares in the last quarter. 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.