Peoples Financial Services Corp. (NASDAQ:PFIS) Plans Quarterly Dividend of $0.62

Key Points

• Peoples Financial Services declared a quarterly dividend of $0.625 per share, payable September 15 to shareholders of record on August 31. The dividend implies an annualized payout of approximately $2.50 per share and a 3.6% yield.
• The company has increased its dividend for eight consecutive years, while its 39.4% payout ratio suggests the dividend is well covered by earnings.
• Peoples Financial Services reported quarterly EPS of $1.48, missing analysts’ $1.64 consensus estimate. Institutional investors own approximately 31.7% of the company, with several funds recently adding or initiating positions.

Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) declared a quarterly dividend on Friday, July 31st. Stockholders of record on Monday, August 31st will be given a dividend of 0.625 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 31st.

Peoples Financial Services has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 8 years. Peoples Financial Services has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings.

Peoples Financial Services Price Performance

PFIS opened at $69.63 on Friday. Peoples Financial Services has a 1 year low of $43.64 and a 1 year high of $73.37. The company's 50 day simple moving average is $68.83 and its 200 day simple moving average is $60.97. The stock has a market capitalization of $697.00 million, a PE ratio of 7.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.99.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.48 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.16). Peoples Financial Services had a return on equity of 17.27% and a net margin of 20.66%.The company had revenue of $97.74 million for the quarter, compared to analyst estimates of $52.35 million.

Hedge Funds Weigh In On Peoples Financial Services

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its position in Peoples Financial Services by 1,611.9% in the second quarter. California State Teachers Retirement System now owns 8,628 shares of the financial services provider's stock worth $573,000 after buying an additional 8,124 shares during the period. Archer Investment Corp purchased a new position in Peoples Financial Services in the 2nd quarter worth about $332,000. Empowered Funds LLC acquired a new position in Peoples Financial Services in the 2nd quarter worth approximately $3,987,000. Bank of America Corp DE purchased a new stake in Peoples Financial Services in the 2nd quarter worth about $917,000. Finally, Man Group plc purchased a new position in Peoples Financial Services during the second quarter valued at approximately $233,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source