Bank of New York Mellon Corp Acquires 8,911 Shares of Peoples Financial Services Corp. (NASDAQ:PFIS)

Bank of New York Mellon Corp grew its position in shares of Peoples Financial Services Corp. (NASDAQ:PFIS - Free Report) by 20.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 52,100 shares of the financial services provider's stock after acquiring an additional 8,911 shares during the quarter. Bank of New York Mellon Corp owned about 0.52% of Peoples Financial Services worth $2,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Peoples Financial Services by 14.9% during the third quarter. Geode Capital Management LLC now owns 211,451 shares of the financial services provider's stock valued at $9,914,000 after purchasing an additional 27,463 shares in the last quarter. State Street Corp raised its position in shares of Peoples Financial Services by 6.6% during the 3rd quarter. State Street Corp now owns 181,656 shares of the financial services provider's stock valued at $8,516,000 after buying an additional 11,236 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Peoples Financial Services by 45.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 50,884 shares of the financial services provider's stock valued at $2,385,000 after acquiring an additional 15,802 shares during the last quarter. Empowered Funds LLC grew its position in Peoples Financial Services by 58.6% in the third quarter. Empowered Funds LLC now owns 45,345 shares of the financial services provider's stock worth $2,126,000 after acquiring an additional 16,753 shares in the last quarter. Finally, Alliance Wealth Advisors LLC increased its stake in Peoples Financial Services by 0.6% during the fourth quarter. Alliance Wealth Advisors LLC now owns 38,857 shares of the financial services provider's stock worth $1,989,000 after acquiring an additional 225 shares during the last quarter. 31.67% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Separately, Stephens raised Peoples Financial Services from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th.

Peoples Financial Services Trading Up 2.2 %

NASDAQ:PFIS traded up $0.97 during mid-day trading on Monday, hitting $45.97. 18,112 shares of the stock traded hands, compared to its average volume of 21,824. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. Peoples Financial Services Corp. has a 52 week low of $36.26 and a 52 week high of $59.70. The stock has a market capitalization of $459.56 million, a price-to-earnings ratio of 40.68 and a beta of 0.56. The firm's 50 day moving average is $49.39 and its two-hundred day moving average is $49.71.

Peoples Financial Services (NASDAQ:PFIS - Get Free Report) last announced its earnings results on Thursday, February 6th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.17). Peoples Financial Services had a net margin of 3.70% and a return on equity of 8.97%. On average, equities research analysts predict that Peoples Financial Services Corp. will post 5.92 earnings per share for the current year.

Peoples Financial Services Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.6175 dividend. This represents a $2.47 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Friday, February 28th. Peoples Financial Services's dividend payout ratio (DPR) is presently 218.58%.

Insiders Place Their Bets

In related news, Director Richard S. Lochen, Jr. purchased 1,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $47.12 per share, for a total transaction of $47,120.00. Following the completion of the acquisition, the director now owns 17,129 shares in the company, valued at approximately $807,118.48. This trade represents a 6.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.10% of the company's stock.

Peoples Financial Services 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.