Hovde Group Cuts Peoples Financial Services (NASDAQ:PFIS) Price Target to $43.00

Peoples Financial Services (NASDAQ:PFIS) had its price target trimmed by Hovde Group from $48.00 to $43.00 in a research note published on Monday, MarketBeat Ratings reports. The firm currently has a market perform rating on the financial services provider’s stock.

Peoples Financial Services Stock Up 0.4 %

Shares of NASDAQ PFIS opened at $38.06 on Monday. The company’s 50-day simple moving average is $39.43 and its 200-day simple moving average is $42.33. Peoples Financial Services has a 52-week low of $30.60 and a 52-week high of $49.99. The firm has a market cap of $268.67 million, a price-to-earnings ratio of 11.67 and a beta of 0.48. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.17.

Peoples Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Thursday, May 30th. Peoples Financial Services’s payout ratio is 50.31%.

Hedge Funds Weigh In On Peoples Financial Services

A number of institutional investors have recently added to or reduced their stakes in PFIS. Bank of New York Mellon Corp raised its stake in Peoples Financial Services by 2.4% during the third quarter. Bank of New York Mellon Corp now owns 46,766 shares of the financial services provider’s stock worth $1,875,000 after purchasing an additional 1,108 shares during the period. Eagle Wealth Strategies LLC acquired a new stake in Peoples Financial Services during the fourth quarter worth $1,394,000. Empowered Funds LLC raised its position in Peoples Financial Services by 7.8% in the first quarter. Empowered Funds LLC now owns 26,612 shares of the financial services provider’s stock valued at $1,147,000 after purchasing an additional 1,925 shares during the period. Fidelity D & D Bancorp Inc. acquired a new stake in shares of Peoples Financial Services during the 3rd quarter worth about $333,000. Finally, Commonwealth Equity Services LLC lifted its position in Peoples Financial Services by 13.5% in the third quarter. Commonwealth Equity Services LLC now owns 8,031 shares of the financial services provider’s stock valued at $322,000 after buying an additional 956 shares during the last quarter. Hedge funds and other institutional investors own 31.67% of the company’s stock.

Peoples Financial Services Company 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.