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

Key Points

• PFIS stock moved above its 50-day moving average, trading as high as $68.17 and last changing hands at $68.01. The move came on volume of 81,451 shares.
• Analyst sentiment remains cautious, with one Buy rating and two Hold ratings, leaving the consensus at Hold. The average price target is $58.50, below the recent trading level.
• Latest earnings were mixed: Peoples Financial Services reported $1.43 EPS, missing estimates, but revenue of $92.63 million came in well above expectations. The company also posted a net margin of 21.29% and return on equity of 18.06%.

Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $63.40 and traded as high as $68.17. Peoples Financial Services shares last traded at $68.01, with a volume of 81,451 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Hovde Group raised their target price on Peoples Financial Services from $59.00 to $61.00 and gave the company 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 report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $58.50.

Peoples Financial Services Trading Up 0.5%

The business's 50 day simple moving average is $63.40 and its two-hundred day simple moving average is $57.47. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.43. The stock has a market cap of $680.78 million, a P/E ratio of 7.53 and a beta of 0.76.

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

Institutional Trading of Peoples Financial Services

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in Peoples Financial Services by 7.4% during the 4th quarter. Royal Bank of Canada now owns 2,559 shares of the financial services provider's stock worth $125,000 after purchasing an additional 176 shares during the last quarter. CANADA LIFE ASSURANCE Co grew 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 valued at $46,000 after buying an additional 204 shares during the last quarter. Alliance Wealth Advisors LLC grew its position in shares of Peoples Financial Services by 0.5% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 44,933 shares of the financial services provider's stock valued at $2,982,000 after buying an additional 227 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 valued at $245,000 after buying an additional 234 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Peoples Financial Services by 59.1% in the second quarter. BNP Paribas Financial Markets now owns 969 shares of the financial services provider's stock valued at $48,000 after buying an additional 360 shares during the period. Institutional investors own 31.67% of the company's stock.

Peoples Financial Services Company Profile

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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