Goldman Sachs Group Inc. Sells 9,453 Shares of Peoples Financial Services Corp. $PFIS

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Peoples Financial Services Corp. by 37.5%, now holding 15,782 shares valued at approximately $702,000 after selling 9,453 shares in Q1.
• Wall Street analysts have upgraded Peoples Financial Services from a "hold" to a "buy" rating, with a consensus price target set at $53.00.
• Peoples Financial Services reported $1.69 earnings per share for the last quarter, exceeding analysts' expectations, along with a quarterly dividend yielding 4.9%.

Goldman Sachs Group Inc. lowered its position in Peoples Financial Services Corp. (NASDAQ:PFIS - Free Report) by 37.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,782 shares of the financial services provider's stock after selling 9,453 shares during the quarter. Goldman Sachs Group Inc. owned about 0.16% of Peoples Financial Services worth $702,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Peoples Financial Services by 67,838.9% during the 1st quarter. GAMMA Investing LLC now owns 12,229 shares of the financial services provider's stock valued at $544,000 after purchasing an additional 12,211 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Peoples Financial Services by 35.1% during the fourth quarter. Deutsche Bank AG now owns 8,193 shares of the financial services provider's stock valued at $419,000 after buying an additional 2,129 shares during the period. Nuveen LLC purchased a new position in shares of Peoples Financial Services during the first quarter valued at approximately $1,259,000. Cutler Capital Management LLC purchased a new position in shares of Peoples Financial Services during the first quarter valued at approximately $1,243,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Peoples Financial Services by 35.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,946 shares of the financial services provider's stock worth $353,000 after acquiring an additional 2,066 shares during the last quarter. Hedge funds and other institutional investors own 31.67% of the company's stock.

Wall Street Analysts Forecast Growth

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

Peoples Financial Services Trading Down 0.5%

PFIS opened at $50.58 on Thursday. Peoples Financial Services Corp. has a 52 week low of $38.90 and a 52 week high of $59.70. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock's fifty day moving average is $51.05 and its two-hundred day moving average is $48.28. The company has a market capitalization of $505.29 million, a P/E ratio of 15.10 and a beta of 0.80.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $48.44 million for the quarter, compared to the consensus estimate of $46.75 million. Analysts forecast that Peoples Financial Services Corp. will post 5.92 earnings per share for the current year.

Peoples Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.6175 dividend. The ex-dividend date was Friday, August 29th. This represents a $2.47 annualized dividend and a dividend yield of 4.9%. Peoples Financial Services's payout ratio is currently 73.73%.

Insider Activity at Peoples Financial Services

In other Peoples Financial Services news, Director Richard S. Lochen, Jr. purchased 1,000 shares of Peoples Financial Services stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $47.67 per share, for a total transaction of $47,670.00. Following the acquisition, the director owned 18,319 shares in the company, valued at $873,266.73. This trade represents a 5.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.00% of the company's stock.

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.

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