Peoples Financial Services (NASDAQ:PFIS) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Peoples Financial Services from a "hold" rating to a "buy" rating in their latest report.
• The company reported $1.69 earnings per share for the last quarter, exceeding expectations by $0.21, with revenues of $48.44 million.
• Institutional investors currently hold 31.67% of Peoples Financial Services stock, with significant investments from firms like Stoneridge Investment Partners and MIRAE ASSET GLOBAL ETFS HOLDINGS.

Wall Street Zen upgraded shares of Peoples Financial Services (NASDAQ:PFIS - Free Report) from a hold rating to a buy rating in a report published on Saturday morning.

Peoples Financial Services Stock Down 3.7%

Shares of NASDAQ:PFIS traded down $1.81 during midday trading on Friday, hitting $46.90. 30,745 shares of the company's stock were exchanged, compared to its average volume of 36,967. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50 day moving average price of $49.77 and a 200-day moving average price of $48.05. The company has a market cap of $469 million, a PE ratio of 14.00 and a beta of 0.79. Peoples Financial Services has a 12 month low of $38.90 and a 12 month high of $59.70.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.69 EPS for the quarter, topping the consensus estimate of $1.48 by $0.21. The company had revenue of $48.44 million during the quarter, compared to the consensus estimate of $46.75 million. Peoples Financial Services had a net margin of 11.80% and a return on equity of 12.32%. On average, sell-side analysts anticipate that Peoples Financial Services will post 5.92 EPS for the current fiscal year.

Peoples Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Friday, August 29th. Peoples Financial Services's dividend payout ratio is presently 73.73%.

Institutional Investors Weigh In On Peoples Financial Services

A number of institutional investors have recently added to or reduced their stakes in PFIS. JPMorgan Chase & Co. grew its position in Peoples Financial Services by 69.3% in the 4th quarter. JPMorgan Chase & Co. now owns 34,612 shares of the financial services provider's stock worth $1,771,000 after purchasing an additional 14,170 shares in the last quarter. Wells Fargo & Company MN grew its position in Peoples Financial Services by 5.1% in the 4th quarter. Wells Fargo & Company MN now owns 26,332 shares of the financial services provider's stock worth $1,348,000 after purchasing an additional 1,275 shares in the last quarter. Invesco Ltd. grew its position in Peoples Financial Services by 2.4% in the 4th quarter. Invesco Ltd. now owns 10,138 shares of the financial services provider's stock worth $519,000 after purchasing an additional 242 shares in the last quarter. Martingale Asset Management L P grew its position in Peoples Financial Services by 11.9% in the 4th quarter. Martingale Asset Management L P now owns 5,373 shares of the financial services provider's stock worth $275,000 after purchasing an additional 570 shares in the last quarter. Finally, Barclays PLC grew its position in Peoples Financial Services by 14.3% in the 4th quarter. Barclays PLC now owns 14,023 shares of the financial services provider's stock worth $718,000 after purchasing an additional 1,753 shares in the last quarter. 31.67% of the stock is owned by 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.