Peoples Financial Services (NASDAQ:PFIS) EVP James Chiaro Sells 605 Shares of Company Stock

Key Points

• EVP James Chiaro sold 605 shares at an average price of $73.26, totaling $44,322.30; he retained 3,100 shares after reducing his stake by 16.33%.
• Peoples Financial Services reported quarterly EPS of $1.90, beating the $1.71 consensus estimate, while revenue of $52.97 million fell short of estimates.
• The company declared a quarterly dividend of $0.625 per share, equivalent to $2.50 annually and a 3.5% yield. Analysts’ consensus rating is “Hold,” with a $65.50 price target.

Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) EVP James Chiaro sold 605 shares of the firm's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $73.26, for a total value of $44,322.30. Following the sale, the executive vice president directly owned 3,100 shares of the company's stock, valued at $227,106. This trade represents a 16.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Peoples Financial Services Stock Down 1.9%

Shares of Peoples Financial Services stock traded down $1.42 during trading on Friday, hitting $71.52. 21,182 shares of the stock traded hands, compared to its average volume of 53,462. The stock has a market cap of $715.90 million, a P/E ratio of 11.83 and a beta of 0.77. The company has a fifty day moving average price of $70.06 and a two-hundred day moving average price of $62.60. Peoples Financial Services Corp. has a twelve month low of $45.95 and a twelve month high of $76.49. 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 data on Friday, October 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. The firm had revenue of $52.97 million for the quarter, compared to analyst estimates of $53.80 million. Peoples Financial Services had a net margin of 20.51% and a return on equity of 11.76%. Equities research analysts predict that Peoples Financial Services Corp. will post 6.37 EPS for the current fiscal year.

Peoples Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.6250 per share. The ex-dividend date is Monday, November 30th. This represents a $2.50 annualized dividend and a dividend yield of 3.5%. Peoples Financial Services's dividend payout ratio is 41.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Peoples Financial Services to a "hold" rating in a research note on Thursday, September 24th. Weiss Ratings raised shares of Peoples Financial Services from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday. Finally, Hovde Group increased their target price on shares of 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $65.50.

Institutional Investors Weigh In On Peoples Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new position in shares of Peoples Financial Services in the second quarter worth about $61,000. Ieq Capital LLC acquired a new position in shares of Peoples Financial Services during the 2nd quarter worth about $201,000. Van Hulzen Asset Management LLC bought a new stake in Peoples Financial Services during the 2nd quarter valued at approximately $215,000. Man Group plc bought a new stake in Peoples Financial Services during the 2nd quarter valued at approximately $233,000. Finally, Canada Pension Plan Investment Board bought a new stake in Peoples Financial Services during the 2nd quarter valued at approximately $319,000. 31.67% of the stock is currently owned by institutional investors and hedge funds.

About Peoples Financial Services

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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