Peoples Financial Services (NASDAQ:PFIS) Hits New 12-Month High After Better-Than-Expected Earnings

Shares of Peoples Financial Services Corp. (NASDAQ:PFIS) hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $52.58 and last traded at $51.99, with a volume of 19705 shares trading hands. The stock had previously closed at $48.40.

The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.56. The business had revenue of $74.01 million during the quarter. Peoples Financial Services had a net margin of 10.07% and a return on equity of 5.93%.

Peoples Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.618 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Friday, November 29th. Peoples Financial Services’s payout ratio is 102.49%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Peoples Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday.

Hedge Funds Weigh In On Peoples Financial Services

Large investors have recently modified their holdings of the business. Empowered Funds LLC increased its holdings in Peoples Financial Services by 7.8% in the first quarter. Empowered Funds LLC now owns 26,612 shares of the financial services provider’s stock valued at $1,147,000 after purchasing an additional 1,925 shares during the period. Alliance Wealth Advisors LLC increased its stake in shares of Peoples Financial Services by 413.0% in the third quarter. Alliance Wealth Advisors LLC now owns 38,632 shares of the financial services provider’s stock valued at $1,811,000 after buying an additional 31,102 shares during the period. Quadrature Capital Ltd raised its position in shares of Peoples Financial Services by 46.7% during the first quarter. Quadrature Capital Ltd now owns 10,707 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 3,409 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Peoples Financial Services by 87.7% in the first quarter. BNP Paribas Financial Markets now owns 3,400 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 1,589 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Peoples Financial Services in the third quarter valued at approximately $149,000. Institutional investors own 31.67% of the company’s stock.

Peoples Financial Services Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $46.75 and its two-hundred day simple moving average is $43.92. The firm has a market cap of $546.01 million, a price-to-earnings ratio of 22.70 and a beta of 0.50.

Peoples Financial Services Company Profile

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.