Berkshire Asset Management LLC PA Purchases 8,673 Shares of Peoples Financial Services Corp. (NASDAQ:PFIS)

Berkshire Asset Management LLC PA increased its holdings in shares of Peoples Financial Services Corp. (NASDAQ:PFIS) by 67.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,464 shares of the financial services provider’s stock after purchasing an additional 8,673 shares during the period. Berkshire Asset Management LLC PA owned approximately 0.21% of Peoples Financial Services worth $1,091,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PFIS. SG Americas Securities LLC grew its position in Peoples Financial Services by 21.6% in the 4th quarter. SG Americas Securities LLC now owns 3,873 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 688 shares during the period. RBF Capital LLC acquired a new position in shares of Peoples Financial Services during the third quarter valued at about $342,000. Barclays PLC increased its position in shares of Peoples Financial Services by 304.8% during the third quarter. Barclays PLC now owns 12,270 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 9,239 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Peoples Financial Services by 60.2% in the 3rd quarter. Stifel Financial Corp now owns 12,308 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 4,627 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Peoples Financial Services by 4.1% in the 4th quarter. Rhumbline Advisers now owns 13,182 shares of the financial services provider’s stock worth $675,000 after acquiring an additional 518 shares during the last quarter. Institutional investors and hedge funds own 31.67% of the company’s stock.

Insider Buying and Selling at Peoples Financial Services

In other news, Director Richard S. Lochen, Jr. bought 1,000 shares of the stock in a transaction on 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 purchase, the director now directly owns 17,129 shares in the company, valued at $807,118.48. This represents a 6.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.

Peoples Financial Services Price Performance

Peoples Financial Services stock opened at $46.87 on Friday. The stock has a market cap of $468.47 million, a P/E ratio of 41.48 and a beta of 0.56. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average price is $50.21 and its two-hundred day moving average price is $49.73. Peoples Financial Services Corp. has a 52 week low of $36.26 and a 52 week high of $59.70.

Peoples Financial Services (NASDAQ:PFIS) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.99 EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts predict that Peoples Financial Services Corp. will post 5.92 earnings per share for the current year.

Peoples Financial Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.6175 dividend. This represents a $2.47 annualized dividend and a yield of 5.27%. The ex-dividend date is Friday, February 28th. Peoples Financial Services’s dividend payout ratio is 218.58%.

Wall Street Analyst Weigh In

PFIS has been the subject of several recent research reports. Stephens upgraded Peoples Financial Services from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Hovde Group upped their target price on shares of Peoples Financial Services from $48.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, November 11th.

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.