Peoples Financial Services (NASDAQ:PFIS) Sees Large Volume Increase - Here's Why

Key Points

• Shares experienced an unusually large volume spike—about 67,311 shares traded, up 95% from the prior session—and last traded near $58; analysts are mixed (Stephens raised its target to $56 and Weiss Ratings upgraded to buy), but the consensus rating remains Hold with a $53 target.
• In the most recent quarter PFIS reported EPS of $1.36, missing estimates of $1.52 while reporting revenue of $89.23 million; the company trades at a P/E of 6.34 and recently raised its quarterly dividend to $0.625 (annualized $2.50, yield 4.4%).

Shares of Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 67,311 shares traded hands during trading, an increase of 95% from the previous session's volume of 34,597 shares.The stock last traded at $58.0820 and had previously closed at $58.22.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PFIS shares. Stephens raised their price objective on Peoples Financial Services from $50.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 11th. Weiss Ratings upgraded Peoples Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $53.00.

Peoples Financial Services Price Performance

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $574.67 million, a P/E ratio of 6.34 and a beta of 0.77. The business has a 50 day simple moving average of $54.70 and a 200-day simple moving average of $51.14.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last posted its earnings results on Friday, January 30th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.16). The company had revenue of $89.23 million during the quarter, compared to the consensus estimate of $48.25 million. Peoples Financial Services had a net margin of 21.50% and a return on equity of 18.60%.

Peoples Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.625 dividend. The ex-dividend date was Friday, February 27th. This is a positive change from Peoples Financial Services's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 4.4%. Peoples Financial Services's dividend payout ratio (DPR) is 27.62%.

Institutional Investors Weigh In On Peoples Financial Services

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in shares of Peoples Financial Services during the third quarter valued at about $37,000. Jones Financial Companies Lllp raised its stake in shares of Peoples Financial Services by 1,338.3% during the third quarter. Jones Financial Companies Lllp now owns 863 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 803 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Peoples Financial Services during the second quarter valued at about $44,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Peoples Financial Services by 27.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 941 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 204 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Peoples Financial Services by 434.3% during the third quarter. CWM LLC now owns 967 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 786 shares in the last quarter. 31.67% of the stock is currently owned by institutional investors.

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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