Peoples Financial Services (NASDAQ:PFIS) Sets New 12-Month High Following Better-Than-Expected Earnings

Peoples Financial Services Corp. (NASDAQ:PFIS)’s stock price hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $52.58 and last traded at $51.99, with a volume of 19705 shares trading hands. The stock had previously closed at $48.40.

The financial services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.08 by $0.56. The business had revenue of $74.01 million during the quarter. Peoples Financial Services had a net margin of 10.07% and a return on equity of 5.93%.

Peoples Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.618 per share. The ex-dividend date is Friday, November 29th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.90%. Peoples Financial Services’s dividend payout ratio (DPR) is currently 102.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Peoples Financial Services from a “sell” rating to a “hold” rating in a report on Thursday.

Institutional Investors Weigh In On Peoples Financial Services

Institutional investors have recently made changes to their positions in the stock. Alliance Wealth Advisors LLC raised its holdings in Peoples Financial Services by 413.0% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 38,632 shares of the financial services provider’s stock valued at $1,811,000 after acquiring an additional 31,102 shares in the last quarter. Empowered Funds LLC raised its stake in Peoples Financial Services by 58.6% in the third quarter. Empowered Funds LLC now owns 45,345 shares of the financial services provider’s stock valued at $2,126,000 after purchasing an additional 16,753 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Peoples Financial Services by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 191,934 shares of the financial services provider’s stock valued at $8,740,000 after purchasing an additional 9,122 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Peoples Financial Services by 19.9% during the second 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 during the period. Finally, Vanguard Group Inc. grew its stake in Peoples Financial Services by 2.1% during the first quarter. Vanguard Group Inc. now owns 322,786 shares of the financial services provider’s stock worth $13,915,000 after buying an additional 6,776 shares in the last quarter. 31.67% of the stock is currently owned by institutional investors.

Peoples Financial Services Trading Down 7.7 %

The firm’s fifty day simple moving average is $46.80 and its 200 day simple moving average is $43.96. The stock has a market capitalization of $503.79 million, a P/E ratio of 20.95 and a beta of 0.50. 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 Company Profile

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.