Empowered Funds LLC Invests $3.99 Million in Peoples Financial Services Corp. $PFIS

Key Points

• Empowered Funds LLC acquired 60,068 shares of Peoples Financial Services in the second quarter, a stake valued at about $3.99 million and representing approximately 0.60% of the company. Institutional investors collectively own 31.67% of PFIS.
• PFIS shares opened at $68.67, down 1.4%, after the company reported quarterly earnings of $1.48 per share, below the $1.64 analyst consensus. Revenue was $97.74 million, while net margin was 20.66% and return on equity was 17.27%.
• The company declared a quarterly dividend of $0.625 per share, equating to an annualized $2.50 payout and a 3.6% yield. Analysts maintain a consensus “Hold” rating with a $65.50 price target, although Hovde Group raised its target to $75.

Empowered Funds LLC purchased a new stake in Peoples Financial Services Corp. (NASDAQ:PFIS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 60,068 shares of the financial services provider's stock, valued at approximately $3,987,000. Empowered Funds LLC owned approximately 0.60% of Peoples Financial Services at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its holdings in Peoples Financial Services by 7.4% in the 4th quarter. Royal Bank of Canada now owns 2,559 shares of the financial services provider's stock valued at $125,000 after acquiring an additional 176 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Peoples Financial Services by 27.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 941 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 204 shares during the period. Alliance Wealth Advisors LLC grew its holdings in shares of Peoples Financial Services by 0.5% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 44,933 shares of the financial services provider's stock worth $2,982,000 after purchasing an additional 227 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Peoples Financial Services by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,513 shares of the financial services provider's stock worth $245,000 after purchasing an additional 234 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Peoples Financial Services by 59.1% in the second quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider's stock worth $48,000 after purchasing an additional 360 shares during the period. 31.67% of the stock is currently owned by institutional investors.

Peoples Financial Services Stock Down 1.4%

Shares of PFIS opened at $68.67 on Tuesday. The firm has a 50 day simple moving average of $68.94 and a two-hundred day simple moving average of $61.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.99. Peoples Financial Services Corp. has a one year low of $43.64 and a one year high of $73.37. The company has a market cap of $687.39 million, a P/E ratio of 7.78 and a beta of 0.75.

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

Peoples Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 31st. Peoples Financial Services's dividend payout ratio is currently 28.31%.

Analysts Set New Price Targets

A number of research analysts recently commented on PFIS shares. Hovde Group boosted their price target on Peoples Financial Services from $61.00 to $75.00 and gave the company a "market perform" rating in a research note on Tuesday, August 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Peoples Financial Services in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.50.

Peoples Financial Services Profile

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.

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