Peoples Financial Services (NASDAQ:PFIS) Sets New 52-Week High After Earnings Beat

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

The financial services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.56. The company had revenue of $74.01 million for 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Friday, November 29th. Peoples Financial Services’s payout ratio is currently 102.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Peoples Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in shares of Peoples Financial Services by 87.7% during the first 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 during the period. SG Americas Securities LLC purchased a new stake in shares of Peoples Financial Services in the third quarter valued at approximately $149,000. Commonwealth Equity Services LLC grew its position in shares of Peoples Financial Services by 2.6% in the second quarter. Commonwealth Equity Services LLC now owns 8,749 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 220 shares during the period. Quadrature Capital Ltd lifted its position in shares of Peoples Financial Services by 46.7% in the first quarter. Quadrature Capital Ltd now owns 10,707 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 3,409 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Peoples Financial Services by 14.5% during the second quarter. Rhumbline Advisers now owns 12,450 shares of the financial services provider’s stock worth $567,000 after buying an additional 1,576 shares in the last quarter. 31.67% of the stock is currently owned by hedge funds and other institutional investors.

Peoples Financial Services Trading Up 8.0 %

The company has a fifty day moving average price of $46.60 and a two-hundred day moving average price of $43.84. The firm has a market capitalization of $521.35 million, a price-to-earnings ratio of 20.08 and a beta of 0.50. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17.

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.