Peoples Financial Services (NASDAQ:PFIS) Lowered to “Sell” at StockNews.com

StockNews.com cut shares of Peoples Financial Services (NASDAQ:PFIS) from a hold rating to a sell rating in a report released on Friday morning.

Peoples Financial Services Stock Down 3.0 %

Shares of PFIS stock opened at $47.84 on Friday. Peoples Financial Services has a 52-week low of $36.26 and a 52-week high of $51.00. The stock has a market cap of $477.44 million, a price-to-earnings ratio of 14.67 and a beta of 0.51. The firm’s 50-day moving average is $46.41 and its 200-day moving average is $42.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.92.

Peoples Financial Services (NASDAQ:PFIS) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Peoples Financial Services had a return on equity of 5.93% and a net margin of 10.07%. The company had revenue of $41.92 million during the quarter. Sell-side analysts predict that Peoples Financial Services will post 3.45 EPS for the current year.

Peoples Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.618 dividend. This is an increase from Peoples Financial Services’s previous quarterly dividend of $0.41. This represents a $2.47 annualized dividend and a dividend yield of 5.17%. The ex-dividend date was Friday, August 30th. Peoples Financial Services’s payout ratio is currently 75.77%.

Insider Transactions at Peoples Financial Services

In related news, Director Richard S. Lochen, Jr. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $43.90 per share, for a total transaction of $43,900.00. Following the purchase, the director now owns 15,555 shares in the company, valued at $682,864.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders purchased 1,604 shares of company stock worth $73,008. 4.10% of the stock is owned by insiders.

Institutional Trading of Peoples Financial Services

Several institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of Peoples Financial Services by 7.8% during the first quarter. Empowered Funds LLC now owns 26,612 shares of the financial services provider’s stock worth $1,147,000 after buying an additional 1,925 shares in the last quarter. Quadrature Capital Ltd increased its position in Peoples Financial Services by 46.7% during the first quarter. Quadrature Capital Ltd now owns 10,707 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 3,409 shares during the period. BNP Paribas Financial Markets raised its stake in Peoples Financial Services by 87.7% in the 1st quarter. BNP Paribas Financial Markets now owns 3,400 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,589 shares in the last quarter. Trexquant Investment LP bought a new stake in Peoples Financial Services in the 4th quarter valued at about $281,000. Finally, Bank of New York Mellon Corp grew its position in shares of Peoples Financial Services by 19.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 47,178 shares of the financial services provider’s stock worth $2,148,000 after purchasing an additional 7,831 shares in the last quarter. 31.67% of the stock is currently owned by institutional investors.

About Peoples Financial Services

Peoples Financial Services Corp. operates as the bank holding company for Peoples Security Bank and Trust Company that provides various commercial and retail banking services. The company accepts money market, negotiable order of withdrawal, savings, individual retirement, demand deposit, and certificates of deposit accounts.