Peoples Financial Services (NASDAQ:PFIS) Reaches New 12-Month High - What's Next?

Key Points

• Peoples Financial Services reached a new 52-week high, trading as high as $71.84 and up 2.9%, well above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the consensus rating is “Hold” with an average price target of $58.50, despite one Buy rating and a target-price increase from Hovde Group.
• The company reported quarterly EPS of $1.43, missing the $1.54 consensus estimate, while posting a 21.29% net margin and 18.06% return on equity. Institutional investors own approximately 31.67% of the stock.

Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $71.84 and last traded at $71.8640, with a volume of 2161 shares changing hands. The stock had previously closed at $70.25.

Wall Street Analysts Forecast Growth

PFIS has been the subject of several analyst reports. Hovde Group boosted their target price on Peoples Financial Services from $59.00 to $61.00 and gave the stock a "market perform" rating in a report on Monday, May 4th. Weiss Ratings reissued a "buy (b)" rating on shares of Peoples Financial Services in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $58.50.

Peoples Financial Services Stock Up 2.9%

The firm has a 50-day moving average of $63.91 and a two-hundred day moving average of $57.76. The firm has a market cap of $723.72 million, a price-to-earnings ratio of 8.01 and a beta of 0.76. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last released its earnings results on Thursday, April 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.54 by ($0.11). Peoples Financial Services had a net margin of 21.29% and a return on equity of 18.06%. The business had revenue of $92.63 million during the quarter, compared to analyst estimates of $49.95 million.

Institutional Trading of Peoples Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in shares of Peoples Financial Services in the third quarter valued at about $37,000. Raymond James Financial Inc. acquired a new position in Peoples Financial Services in the 2nd quarter valued at approximately $44,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Peoples Financial Services by 27.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 941 shares of the financial services provider's stock worth $46,000 after acquiring an additional 204 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Peoples Financial Services by 59.1% during the 2nd 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 in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Peoples Financial Services during the 4th quarter worth approximately $63,000. 31.67% of the stock is currently owned by institutional investors and hedge funds.

About Peoples Financial Services

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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