Berkshire Asset Management LLC PA Has $1.09 Million Stake in Peoples Financial Services Corp. (NASDAQ:PFIS)

Berkshire Asset Management LLC PA increased its holdings in Peoples Financial Services Corp. (NASDAQ:PFIS - Free Report) by 67.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,464 shares of the financial services provider's stock after acquiring an additional 8,673 shares during the quarter. Berkshire Asset Management LLC PA owned approximately 0.21% of Peoples Financial Services worth $1,091,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in PFIS. Geode Capital Management LLC boosted its position in shares of 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 worth $9,914,000 after buying an additional 27,463 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Peoples Financial Services in the fourth quarter worth $938,000. Empowered Funds LLC lifted its stake 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 valued at $2,126,000 after acquiring an additional 16,753 shares during the last quarter. JPMorgan Chase & Co. grew its position in Peoples Financial Services by 377.8% in the third quarter. JPMorgan Chase & Co. now owns 20,442 shares of the financial services provider's stock worth $958,000 after acquiring an additional 16,164 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Peoples Financial Services by 45.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 50,884 shares of the financial services provider's stock worth $2,385,000 after purchasing an additional 15,802 shares during the last quarter. 31.67% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Hovde Group upped their price objective on shares of Peoples Financial Services from $48.00 to $53.00 and gave the stock a "market perform" rating in a report on Monday, November 11th. Stephens raised Peoples Financial Services from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th.

Peoples Financial Services Stock Performance

Shares of NASDAQ PFIS traded up $0.08 during trading hours on Friday, hitting $46.87. 17,231 shares of the stock were exchanged, compared to its average volume of 27,453. The firm has a market capitalization of $468.47 million, a P/E ratio of 41.48 and a beta of 0.56. Peoples Financial Services Corp. has a one year low of $36.26 and a one year high of $59.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The company's 50 day moving average is $50.21 and its 200 day moving average is $49.76.

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

Peoples Financial Services Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Friday, February 28th. Peoples Financial Services's dividend payout ratio (DPR) is presently 218.58%.

Insider Transactions at Peoples Financial Services

In other news, Director Richard S. Lochen, Jr. purchased 1,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $47.12 per share, with a total value of $47,120.00. Following the acquisition, the director now directly owns 17,129 shares in the company, valued at approximately $807,118.48. The trade was a 6.20 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 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.