Peoples Financial Services Corp. (NASDAQ:PFIS) Declares $0.62 Quarterly Dividend

Peoples Financial Services Corp. (NASDAQ:PFIS) announced a quarterly dividend on Friday, July 31st. Stockholders of record on Monday, August 31st will be given a dividend of 0.625 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 31st.

Peoples Financial Services has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Peoples Financial Services has a dividend payout ratio of 39.4% indicating that its dividend is sufficiently covered by earnings.

Peoples Financial Services Stock Performance

Shares of NASDAQ PFIS opened at $69.63 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $697.00 million, a P/E ratio of 7.89 and a beta of 0.75. The business’s 50-day moving average price is $68.83 and its two-hundred day moving average price is $60.97. Peoples Financial Services has a one year low of $43.64 and a one year high of $73.37.

Peoples Financial Services (NASDAQ:PFIS) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.16). Peoples Financial Services had a net margin of 20.66% and a return on equity of 17.27%. The business had revenue of $97.74 million during the quarter, compared to analyst estimates of $52.35 million.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PFIS shares. Hovde Group increased their price target on shares of Peoples Financial Services from $61.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Financial Services in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $65.50.

About Peoples Financial Services

Peoples Financial Services Corporation is the bank holding company for PeoplesBank, a community-focused commercial bank headquartered in Holyoke, Massachusetts. Through its wholly owned subsidiary, PeoplesBank, PFIS offers a full suite of banking services to individuals, small businesses, and commercial clients. These services include deposit accounts, consumer and residential mortgage lending, commercial and industrial lending, and treasury management solutions.

Founded in 1842, PeoplesBank has grown organically and through selective acquisitions to become a prominent community bank in Western Massachusetts and Northern Connecticut.