Key Points
- EVP Jeffrey Drobins sold 2,500 shares of Peoples Financial Services at an average $74.47, for $186,175. After the sale, he held 3,563 shares—a 41.23% reduction in his position.
- The company beat quarterly EPS expectations, reporting $1.90 versus analysts’ $1.71 estimate, but revenue of $52.97 million fell short of the $53.80 million forecast.
- Peoples declared a quarterly dividend of $0.625 per share, equivalent to $2.50 annually and a 3.4% yield. Analysts’ consensus rating is “Hold,” with an average price target of $65.50.
Peoples Financial Services Corp. (NASDAQ:PFIS - Get Free Report) EVP Jeffrey Drobins sold 2,500 shares of the company's stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $74.47, for a total value of $186,175.00. Following the sale, the executive vice president owned 3,563 shares of the company's stock, valued at $265,336.61. This trade represents a 41.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Peoples Financial Services Stock Performance
NASDAQ PFIS opened at $73.15 on Tuesday. The company has a fifty day moving average price of $70.18 and a 200-day moving average price of $62.81. The firm has a market cap of $732.23 million, a price-to-earnings ratio of 12.11 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.99. Peoples Financial Services Corp. has a 1 year low of $46.00 and a 1 year high of $76.49.
Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. Peoples Financial Services had a net margin of 20.51% and a return on equity of 11.76%. The company had revenue of $52.97 million for the quarter, compared to analyst estimates of $53.80 million. As a group, equities research analysts predict that Peoples Financial Services Corp. will post 6.37 EPS for the current fiscal year.
Peoples Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a $0.6250 dividend. The ex-dividend date is Monday, November 30th. This represents a $2.50 annualized dividend and a yield of 3.4%. Peoples Financial Services's dividend payout ratio (DPR) is 41.39%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on PFIS. Hovde Group boosted their target price on Peoples Financial Services from $61.00 to $75.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 4th. Weiss Ratings raised Peoples Financial Services from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, November 4th. Finally, Zacks Research raised Peoples Financial Services to a "hold" rating in a research report on Thursday, September 24th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $65.50.
Read Our Latest Research Report on Peoples Financial Services
Institutional Trading of Peoples Financial Services
Hedge funds and other institutional investors have recently bought and sold shares of the company. Alliance Wealth Advisors LLC lifted its stake 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 acquiring an additional 227 shares during the last quarter. Legal & General Group Plc purchased a new stake in Peoples Financial Services during the 2nd quarter valued at about $61,000. Royal Bank of Canada grew its position in Peoples Financial Services by 116.0% during the 1st quarter. Royal Bank of Canada now owns 5,527 shares of the financial services provider's stock worth $294,000 after acquiring an additional 2,968 shares during the last quarter. Ieq Capital LLC bought a new position in Peoples Financial Services during the 2nd quarter worth approximately $201,000. Finally, Van Hulzen Asset Management LLC bought a new position in Peoples Financial Services during the 2nd quarter worth approximately $215,000. Institutional investors own 31.67% of the company's stock.
About Peoples Financial Services
(
Get Free Report)
Peoples Financial Services Corp. is the bank holding company for Peoples Security Bank and Trust Company, a community banking institution headquartered in Scranton, Pennsylvania. The bank provides financial services to individuals, businesses, nonprofit organizations and municipal customers.
Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, business loans, lines of credit and other treasury-management services.
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