Peoples Financial Services (NASDAQ:PFIS) Shares Cross Above 50-Day Moving Average - Should You Sell?

Key Points

• PFIS shares crossed above their 50-day moving average, reaching $71.15 and last trading at $70.64, compared with a 50-day average of $68.22.
• Analyst sentiment remains cautious: the stock carries an overall “Hold” rating with an average price target of $65.50, despite Hovde Group raising its target to $75.
• The company reported quarterly EPS of $1.48, below the $1.64 consensus estimate, while announcing a quarterly dividend of $0.625 per share, equivalent to a 3.5% annual yield.

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 $68.22 and traded as high as $71.15. Peoples Financial Services shares last traded at $70.64, with a volume of 41,893 shares changing hands.

Analyst Ratings Changes

PFIS has been the topic of several analyst reports. Hovde Group increased their target price on shares of Peoples Financial Services from $61.00 to $75.00 and gave the stock a "market perform" rating in a report on Tuesday, August 4th. Weiss Ratings restated a "buy (b)" rating on shares of Peoples Financial Services in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $65.50.

Peoples Financial Services Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average price of $68.22 and a two-hundred day moving average price of $60.62. The firm has a market cap of $707.11 million, a P/E ratio of 8.00 and a beta of 0.75.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.16). The business had revenue of $97.74 million for the quarter, compared to the consensus estimate of $52.35 million. Peoples Financial Services had a return on equity of 17.27% and a net margin of 20.66%.

Peoples Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, August 31st. Peoples Financial Services's dividend payout ratio (DPR) is presently 28.31%.

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. Royal Bank of Canada increased its holdings 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 in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Peoples Financial Services by 27.7% in 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. Alliance Wealth Advisors LLC boosted its position in shares of Peoples Financial Services by 0.5% during the second quarter. Alliance Wealth Advisors LLC now owns 44,933 shares of the financial services provider's stock worth $2,982,000 after buying an additional 227 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Peoples Financial Services by 4.4% during 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 buying an additional 234 shares during the period. Finally, BNP Paribas Financial Markets grew 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 worth $48,000 after buying an additional 360 shares in the last quarter. 31.67% of the stock is owned by institutional investors and hedge funds.

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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