Geode Capital Management LLC Has $9.91 Million Stake in Peoples Financial Services Corp. (NASDAQ:PFIS)

Geode Capital Management LLC grew its position in Peoples Financial Services Corp. (NASDAQ:PFIS) by 14.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,451 shares of the financial services provider’s stock after acquiring an additional 27,463 shares during the period. Geode Capital Management LLC’s holdings in Peoples Financial Services were worth $9,914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC raised its position in Peoples Financial Services by 58.6% in the 3rd quarter. Empowered Funds LLC now owns 45,345 shares of the financial services provider’s stock valued at $2,126,000 after purchasing an additional 16,753 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Peoples Financial Services by 45.0% in the third quarter. PNC Financial Services Group Inc. now owns 50,884 shares of the financial services provider’s stock valued at $2,385,000 after buying an additional 15,802 shares in the last quarter. State Street Corp raised its holdings in shares of Peoples Financial Services by 6.6% in the third 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 during the last quarter. Stifel Financial Corp lifted its position in Peoples Financial Services by 60.2% during the 3rd quarter. Stifel Financial Corp now owns 12,308 shares of the financial services provider’s stock worth $577,000 after buying an additional 4,627 shares in the last quarter. Finally, Alliance Wealth Advisors LLC grew its holdings 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 worth $1,811,000 after acquiring an additional 31,102 shares during the last quarter. 31.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFIS has been the subject of a number of research analyst reports. Stephens raised shares of Peoples Financial Services from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Hovde Group raised their price target on shares of Peoples Financial Services from $48.00 to $53.00 and gave the company a “market perform” rating in a report on Monday, November 11th. Finally, StockNews.com raised Peoples Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

Peoples Financial Services Stock Performance

Shares of NASDAQ:PFIS opened at $51.18 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Peoples Financial Services Corp. has a 1-year low of $36.26 and a 1-year high of $59.70. The stock has a market capitalization of $511.54 million, a P/E ratio of 49.69 and a beta of 0.55. The business has a 50-day moving average price of $52.48 and a two-hundred day moving average price of $48.00.

Peoples Financial Services (NASDAQ:PFIS) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $74.01 million during the quarter. Equities analysts predict that Peoples Financial Services Corp. will post 4.39 earnings per share for the current year.

Peoples Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.618 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Friday, November 29th. Peoples Financial Services’s dividend payout ratio (DPR) is currently 239.81%.

About Peoples Financial Services

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.