Hovde Group Issues Pessimistic Forecast for Peoples Financial Services (NASDAQ:PFIS) Stock Price

Peoples Financial Services (NASDAQ:PFIS) had its price objective reduced by Hovde Group from $54.00 to $50.00 in a report released on Monday, Marketbeat.com reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price target would suggest a potential upside of 11.19% from the company’s previous close.

PFIS has been the subject of a number of other reports. Weiss Ratings restated a “hold (c+)” rating on shares of Peoples Financial Services in a report on Wednesday, October 8th. Wall Street Zen cut shares of Peoples Financial Services from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Peoples Financial Services currently has a consensus rating of “Hold” and an average target price of $50.00.

Peoples Financial Services Price Performance

Shares of NASDAQ PFIS opened at $44.97 on Monday. Peoples Financial Services has a twelve month low of $38.90 and a twelve month high of $59.70. The firm has a fifty day simple moving average of $49.39 and a 200 day simple moving average of $49.11. The company has a market capitalization of $449.48 million, a PE ratio of 13.42 and a beta of 0.78. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.39.

Peoples Financial Services (NASDAQ:PFIS) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $3.19. The business had revenue of $140.93 million during the quarter, compared to analysts’ expectations of $49.00 million. Peoples Financial Services had a net margin of 11.80% and a return on equity of 12.20%. On average, sell-side analysts forecast that Peoples Financial Services will post 5.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp grew its holdings in shares of Peoples Financial Services by 1,338.3% during the third quarter. Jones Financial Companies Lllp now owns 863 shares of the financial services provider’s stock valued at $43,000 after buying an additional 803 shares during the last quarter. Stoneridge Investment Partners LLC boosted its holdings in Peoples Financial Services by 7.9% during the third quarter. Stoneridge Investment Partners LLC now owns 6,125 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 451 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Peoples Financial Services by 5.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,768 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 427 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Peoples Financial Services during the third quarter worth about $354,000. Finally, LVW Advisors LLC purchased a new position in Peoples Financial Services during the third quarter worth about $262,000. 31.67% of the stock is currently owned by institutional investors and hedge funds.

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.