Insider Selling: Peoples Financial Services (NASDAQ:PFIS) EVP Sells 2,500 Shares of Company Stock

Key Points

• EVP Jeffrey Drobins sold 2,500 PFIS shares at an average price of $74.47, totaling $186,175. After the sale, he owned 3,563 shares, a 41.23% reduction in his position.
• Peoples Financial Services reported quarterly EPS of $1.90, beating analysts’ $1.71 consensus, while revenue of $52.97 million came in below expectations of $53.80 million.
• The company announced a quarterly dividend of $0.625 per share, equivalent to $2.50 annually and a 3.4% yield. Analysts’ consensus rating was “Hold,” with an average price target of $65.50.

Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) EVP Jeffrey Drobins sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $74.47, for a total transaction of $186,175.00. Following the transaction, the executive vice president owned 3,563 shares of the company's stock, valued at approximately $265,336.61. This represents a 41.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Peoples Financial Services Trading Up 1.3%

NASDAQ:PFIS traded up $0.91 during trading hours on Monday, hitting $73.15. The stock had a trading volume of 100,160 shares, compared to its average volume of 53,840. The business's 50 day moving average is $70.11 and its 200-day moving average is $62.71. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $732.23 million, a price-to-earnings ratio of 12.11 and a beta of 0.77. Peoples Financial Services Corp. has a one year low of $46.00 and a one year high of $76.49.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.19. Peoples Financial Services had a net margin of 20.51% and a return on equity of 11.76%. The company had revenue of $52.97 million for the quarter, compared to analysts' expectations of $53.80 million. Sell-side analysts anticipate that Peoples Financial Services Corp. will post 6.37 EPS for the current fiscal year.

Peoples Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a dividend of $0.6250 per share. The ex-dividend date is Monday, November 30th. This represents a $2.50 annualized dividend and a yield of 3.4%. Peoples Financial Services's payout ratio is currently 41.39%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Peoples Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its position in Peoples Financial Services by 466.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 79,954 shares of the financial services provider's stock worth $5,386,000 after acquiring an additional 65,846 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Peoples Financial Services during the 2nd quarter worth approximately $393,000. Van Hulzen Asset Management LLC bought a new position in shares of Peoples Financial Services during the 2nd quarter worth approximately $215,000. Engineers Gate Manager LP acquired a new stake in shares of Peoples Financial Services in the second quarter valued at approximately $336,000. Finally, Archer Investment Corp acquired a new stake in shares of Peoples Financial Services in the second quarter valued at approximately $332,000. 31.67% of the stock is owned by institutional investors and hedge funds.

Peoples Financial Services Company Profile

Peoples Financial Services Corp. is the bank holding company for Peoples Security Bank and Trust Company, a community banking institution headquartered in Scranton, Pennsylvania. The bank provides financial services to individuals, businesses, nonprofit organizations and municipal customers.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, business loans, lines of credit and other treasury-management services.

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