Cutler Capital Management LLC Invests $1.24 Million in Peoples Financial Services Corp. $PFIS

Key Points

• Cutler Capital Management LLC acquired a new stake in Peoples Financial Services Corp., purchasing 27,948 shares valued at approximately $1,243,000, which represents about 0.28% of the company as of their latest SEC filing.
• Peoples Financial Services recently reported a strong earnings impact, with $1.69 EPS for the quarter, surpassing analysts' expectations of $1.48.
• The company announced a quarterly dividend of $0.6175 per share, resulting in an annualized yield of 4.9%, with distribution set for September 15th.

Cutler Capital Management LLC bought a new position in Peoples Financial Services Corp. (NASDAQ:PFIS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 27,948 shares of the financial services provider's stock, valued at approximately $1,243,000. Cutler Capital Management LLC owned about 0.28% of Peoples Financial Services at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Stoneridge Investment Partners LLC bought a new position in shares of Peoples Financial Services in the first quarter worth $203,000. Squarepoint Ops LLC bought a new position in shares of Peoples Financial Services in the fourth quarter worth $239,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Peoples Financial Services by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,279 shares of the financial services provider's stock worth $270,000 after acquiring an additional 228 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Peoples Financial Services in the fourth quarter worth $301,000. Finally, First Trust Advisors LP bought a new position in shares of Peoples Financial Services in the fourth quarter worth $310,000. 31.67% of the stock is owned by institutional investors.

Peoples Financial Services Price Performance

NASDAQ:PFIS traded up $0.60 during trading hours on Tuesday, hitting $53.28. 19,619 shares of the company's stock traded hands, compared to its average volume of 25,572. The firm has a market cap of $532.27 million, a P/E ratio of 15.90 and a beta of 0.79. Peoples Financial Services Corp. has a 52 week low of $38.90 and a 52 week high of $59.70. The business's fifty day simple moving average is $50.22 and its two-hundred day simple moving average is $47.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.39.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.21. Peoples Financial Services had a return on equity of 12.20% and a net margin of 11.80%.The company had revenue of $48.44 million during the quarter, compared to analyst estimates of $46.75 million. On average, research analysts anticipate that Peoples Financial Services Corp. will post 5.92 earnings per share for the current fiscal year.

Peoples Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.6175 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.47 annualized dividend and a yield of 4.6%. Peoples Financial Services's payout ratio is 73.73%.

Insider Transactions at Peoples Financial Services

In other news, Director Richard S. Lochen, Jr. purchased 1,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $47.67 per share, with a total value of $47,670.00. Following the completion of the purchase, the director directly owned 18,319 shares in the company, valued at approximately $873,266.73. This trade represents a 5.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Wall Street Zen raised Peoples Financial Services from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Peoples Financial Services 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.