Peoples Financial Services (NASDAQ:PFIS) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Peoples Financial Services (NASDAQ: PFIS) from “hold” to “buy.” Despite the upgrade, MarketBeat’s analyst consensus remained “hold,” with an average price target of $65.50.
• PFIS reported quarterly EPS of $1.90, beating the $1.71 consensus estimate, while revenue of $52.97 million came in below analysts’ $53.80 million estimate.
• Company insiders sold 7,089 shares worth about $517,624 over the past three months; insiders retained 8.2% ownership.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also commented on PFIS. Weiss Ratings upgraded Peoples Financial Services from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, November 4th. Hovde Group raised their price target on Peoples Financial Services from $61.00 to $75.00 and gave the company a "market perform" rating in a report on Tuesday, August 4th. Finally, Zacks Research upgraded Peoples Financial Services to a "hold" rating in a research report on Thursday, September 24th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Peoples Financial Services currently has a consensus rating of "Hold" and an average target price of $65.50.

Peoples Financial Services Price Performance

Shares of Peoples Financial Services stock opened at $72.69 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $727.63 million, a price-to-earnings ratio of 11.81 and a beta of 0.77. Peoples Financial Services has a 1-year low of $46.07 and a 1-year high of $76.49. The firm's 50-day moving average price is $70.42 and its two-hundred day moving average price is $63.24.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.19. Peoples Financial Services had a net margin of 20.51% and a return on equity of 11.75%. The company had revenue of $52.97 million during the quarter, compared to analyst estimates of $53.80 million. On average, equities analysts predict that Peoples Financial Services will post 6.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey A. Drobins sold 2,500 shares of Peoples Financial Services stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $74.47, for a total transaction of $186,175.00. Following the completion of the sale, the executive vice president directly owned 3,563 shares of the company's stock, valued at $265,336.61. The trade was a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James B. Nicholas sold 3,984 shares of the company's stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $72.07, for a total value of $287,126.88. The SEC filing for this sale provides additional information. Insiders sold a total of 7,089 shares of company stock valued at $517,624 over the last three months. Company insiders own 8.20% of the company's stock.

Hedge Funds Weigh In On Peoples Financial Services

Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of Peoples Financial Services in the 2nd quarter valued at approximately $61,000. Ieq Capital LLC acquired a new position in Peoples Financial Services during the second quarter valued at approximately $201,000. Van Hulzen Asset Management LLC acquired a new position in Peoples Financial Services during the second quarter valued at approximately $215,000. Man Group plc acquired a new position in Peoples Financial Services during the second quarter valued at approximately $233,000. Finally, Royal Bank of Canada increased its stake in Peoples Financial Services by 116.0% in the first quarter. Royal Bank of Canada now owns 5,527 shares of the financial services provider's stock valued at $294,000 after purchasing an additional 2,968 shares in the last quarter. 31.67% of the stock is currently owned by institutional investors and hedge funds.

Peoples Financial Services Company Profile

Peoples Financial Services Corp. is a bank holding company whose principal subsidiary, Peoples Security Bank and Trust Company, provides community banking services. The company serves individuals, businesses, and nonprofit organizations, with a presence across northeastern and central Pennsylvania. Its services include checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, and commercial lending. Customers can also access online and mobile banking and business cash-management services.

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