PNC Financial Services Group Inc. lifted its stake in Peoples Financial Services Corp. (NASDAQ:PFIS - Free Report) by 45.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,884 shares of the financial services provider's stock after purchasing an additional 15,802 shares during the quarter. PNC Financial Services Group Inc. owned about 0.51% of Peoples Financial Services worth $2,385,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in PFIS. SG Americas Securities LLC bought a new stake in Peoples Financial Services in the third quarter worth $149,000. Commonwealth Equity Services LLC boosted its stake in Peoples Financial Services by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,749 shares of the financial services provider's stock worth $398,000 after purchasing an additional 220 shares in the last quarter. Quadrature Capital Ltd grew its position in Peoples Financial Services by 46.7% during the 1st quarter. Quadrature Capital Ltd now owns 10,707 shares of the financial services provider's stock valued at $460,000 after purchasing an additional 3,409 shares during the last quarter. Rhumbline Advisers grew its position in Peoples Financial Services by 14.5% during the 2nd quarter. Rhumbline Advisers now owns 12,450 shares of the financial services provider's stock valued at $567,000 after purchasing an additional 1,576 shares during the last quarter. Finally, Alliance Wealth Advisors LLC increased its stake in Peoples Financial Services by 413.0% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 38,632 shares of the financial services provider's stock valued at $1,811,000 after purchasing an additional 31,102 shares in the last quarter. Hedge funds and other institutional investors own 31.67% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on PFIS shares. StockNews.com upgraded shares of Peoples Financial Services from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Hovde Group increased their target price on Peoples Financial Services from $48.00 to $53.00 and gave the company a "market perform" rating in a research note on Monday, November 11th.
Check Out Our Latest Research Report on Peoples Financial Services
Peoples Financial Services Stock Performance
PFIS traded down $1.93 during midday trading on Tuesday, hitting $56.83. 69,688 shares of the company traded hands, compared to its average volume of 18,403. The company's 50-day moving average is $48.62 and its 200 day moving average is $45.28. Peoples Financial Services Corp. has a 52 week low of $36.26 and a 52 week high of $59.70. The firm has a market capitalization of $568.02 million, a PE ratio of 55.17 and a beta of 0.50. 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 (NASDAQ:PFIS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.56. Peoples Financial Services had a net margin of 3.00% and a return on equity of 7.73%. The company had revenue of $74.01 million for the quarter. On average, research analysts expect that Peoples Financial Services Corp. will post 3.43 EPS for the current year.
Peoples Financial Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.618 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.47 annualized dividend and a yield of 4.35%. Peoples Financial Services's payout ratio is 239.81%.
Peoples Financial Services Company Profile
(
Free Report)
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.
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