Peoples Financial Services (NASDAQ:PFIS) Sets New 52-Week High - Time to Buy?

Key Points

• 52-week high: PFIS hit a new 52-week high of $59.59 (last $58.69) and was trading up about 3.4%, while analysts moved—Hovde raised its target to $61 and Weiss upgraded to Buy, though the consensus rating remains Hold with a $58.50 target.
• Quarterly results showed EPS of $1.43 (missing estimates by $0.11) but revenue of $92.63M well above the $49.95M expectation, with strong profitability metrics (ROE 18.21%, net margin 21.29%).
• Peoples declared a quarterly dividend of $0.625 (annualized $2.50) for a yield of 4.2%; the stock also trades at a low PE of 6.52 and a market cap around $590M.

Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.59 and last traded at $58.6910, with a volume of 18850 shares changing hands. The stock had previously closed at $56.95.

Analyst Ratings Changes

PFIS has been the topic of a number of analyst reports. Hovde Group upped their target price on shares of Peoples Financial Services from $59.00 to $61.00 and gave the stock a "market perform" rating in a report on Monday. Weiss Ratings raised Peoples Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 27th. Finally, Stephens increased 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. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $58.50.

Peoples Financial Services Trading Up 3.4%

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $589.59 million, a PE ratio of 6.52 and a beta of 0.77. The stock's 50 day simple moving average is $54.85 and its two-hundred day simple moving average is $51.78.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.11). The company had revenue of $92.63 million for the quarter, compared to analysts' expectations of $49.95 million. Peoples Financial Services had a return on equity of 18.21% and a net margin of 21.29%.

Peoples Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, May 29th. Peoples Financial Services's dividend payout ratio is currently 27.69%.

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 PFIS. Archer Investment Corp bought a new stake in shares of Peoples Financial Services in the first quarter valued at approximately $267,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Peoples Financial Services by 25.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,504 shares of the financial services provider's stock worth $268,000 after acquiring an additional 1,124 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Peoples Financial Services by 10.6% in the fourth quarter. Empowered Funds LLC now owns 50,894 shares of the financial services provider's stock worth $2,479,000 after acquiring an additional 4,867 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Peoples Financial Services by 7.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 73,794 shares of the financial services provider's stock valued at $3,595,000 after purchasing an additional 4,867 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Peoples Financial Services by 12.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,573 shares of the financial services provider's stock worth $272,000 after purchasing an additional 637 shares in the last quarter. Institutional investors own 31.67% of the company's stock.

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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