Peoples Financial Services (NASDAQ:PFIS) Sees Strong Trading Volume - Here's Why

Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) saw strong trading volume on Monday . 55,488 shares traded hands during mid-day trading, an increase of 132% from the previous session's volume of 23,897 shares.The stock last traded at $51.32 and had previously closed at $51.23.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Peoples Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, July 12th.

Peoples Financial Services Price Performance

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.27. The firm's 50 day simple moving average is $49.57 and its 200 day simple moving average is $47.99. The company has a market capitalization of $517.10 million, a PE ratio of 24.28 and a beta of 0.75.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.35 by $0.16. The company had revenue of $62.43 million during the quarter, compared to analyst estimates of $44.35 million. Peoples Financial Services had a net margin of 7.83% and a return on equity of 10.37%. As a group, research analysts anticipate that Peoples Financial Services Corp. will post 5.92 EPS for the current fiscal year.

Peoples Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Friday, May 30th. Peoples Financial Services's dividend payout ratio is currently 115.96%.

Institutional Trading of Peoples Financial Services

A number of large investors have recently made changes to their positions in PFIS. Hoey Investments Inc. purchased a new stake in shares of Peoples Financial Services during the fourth quarter valued at $126,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Peoples Financial Services during the first quarter valued at $203,000. Squarepoint Ops LLC purchased a new stake in shares of Peoples Financial Services during the fourth quarter valued at $239,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Peoples Financial Services by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,513 shares of the financial services provider's stock worth $245,000 after acquiring an additional 234 shares during the period. Finally, Martingale Asset Management L P lifted its stake in Peoples Financial Services by 11.9% in the fourth quarter. Martingale Asset Management L P now owns 5,373 shares of the financial services provider's stock worth $275,000 after acquiring an additional 570 shares during the period. 31.67% of the stock is owned by hedge funds and other institutional investors.

About Peoples Financial Services

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.