Peoples Financial Services (NASDAQ:PFIS) Stock Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Peoples Financial Services Corp. stock crossed above its 50-day moving average of $51.08, reaching a high of $51.59 before closing at $50.99 with a trading volume of 31,974 shares.
• Wall Street Zen upgraded the stock's rating from "hold" to "buy", with an average target price of $53.00, reflecting a generally positive outlook from analysts.
• The company reported earnings of $1.69 per share for the last quarter, exceeding analysts' expectations and indicating a strong net margin of 11.80% and a return on equity of 12.20%.

Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $51.08 and traded as high as $51.59. Peoples Financial Services shares last traded at $50.99, with a volume of 31,974 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Peoples Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Peoples Financial Services currently has an average rating of "Moderate Buy" and an average target price of $53.00.

Peoples Financial Services Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The business's fifty day moving average is $51.08 and its 200 day moving average is $48.25. The firm has a market capitalization of $509.39 million, a P/E ratio of 15.22 and a beta of 0.80.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.21. Peoples Financial Services had a net margin of 11.80% and a return on equity of 12.20%. The business had revenue of $48.44 million for the quarter, compared to the consensus estimate of $46.75 million. As a group, analysts forecast that Peoples Financial Services Corp. will post 5.92 EPS for the current year.

Peoples Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.6175 per share. The ex-dividend date was Friday, August 29th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.8%. Peoples Financial Services's payout ratio is currently 73.73%.

Insider Activity

In other news, Director Richard S. Lochen, Jr. purchased 1,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $47.67 per share, for a total transaction of $47,670.00. Following the completion of the acquisition, the director directly owned 18,319 shares of the company's stock, valued at $873,266.73. The trade was a 5.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peoples Financial Services

Large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Peoples Financial Services during the second quarter valued at approximately $44,000. BNP Paribas Financial Markets raised its holdings in shares of Peoples Financial Services by 59.1% during the second quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 360 shares during the period. State of Tennessee Department of Treasury acquired a new stake in shares of Peoples Financial Services during the second quarter valued at approximately $103,000. Tower Research Capital LLC TRC raised its holdings in shares of Peoples Financial Services by 896.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,452 shares of the financial services provider's stock valued at $121,000 after acquiring an additional 2,206 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in shares of Peoples Financial Services during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 31.67% of the company's stock.

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.

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