Peoples Financial Services (NASDAQ:PFIS) Shares Gap Down – What’s Next?

Shares of Peoples Financial Services Corp. (NASDAQ:PFIS) gapped down before the market opened on Monday . The stock had previously closed at $52.79, but opened at $50.56. Peoples Financial Services shares last traded at $50.51, with a volume of 817 shares changing hands.

Analysts Set New Price Targets

PFIS has been the subject of a number of research reports. Wall Street Zen downgraded shares of Peoples Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 17th. Hovde Group reduced their price target on shares of Peoples Financial Services from $54.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Peoples Financial Services in a research report on Thursday, January 22nd. Finally, Stephens set a $50.00 price objective on shares of Peoples Financial Services and gave the stock an “equal weight” rating in a research note on Monday, December 8th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Peoples Financial Services has a consensus rating of “Hold” and a consensus target price of $50.00.

Peoples Financial Services Price Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $498.70 million, a price-to-earnings ratio of 5.89 and a beta of 0.81. The business’s 50 day simple moving average is $50.00 and its 200-day simple moving average is $49.60.

Peoples Financial Services (NASDAQ:PFIS) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $3.19. Peoples Financial Services had a return on equity of 18.32% and a net margin of 20.17%.The company had revenue of $65.88 million for the quarter, compared to analysts’ expectations of $49.00 million. Research analysts anticipate that Peoples Financial Services Corp. will post 5.92 earnings per share for the current year.

Peoples Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Friday, November 28th. Peoples Financial Services’s payout ratio is 29.16%.

Hedge Funds Weigh In On Peoples Financial Services

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in shares of Peoples Financial Services in the 3rd quarter worth approximately $37,000. Jones Financial Companies Lllp lifted its position in Peoples Financial Services by 1,338.3% in the third quarter. Jones Financial Companies Lllp now owns 863 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 803 shares during the period. Raymond James Financial Inc. acquired a new stake in Peoples Financial Services in the second quarter worth approximately $44,000. CWM LLC boosted its stake in Peoples Financial Services by 434.3% during the 3rd quarter. CWM LLC now owns 967 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 786 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Peoples Financial Services by 59.1% in the 2nd 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. Institutional investors and hedge funds 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.