Peoples Financial Services Corp (NASDAQ:PFIS) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 26,400 shares, a decline of 12.3% from the June 30th total of 30,100 shares. Based on an average daily trading volume, of 6,300 shares, the days-to-cover ratio is currently 4.2 days. Approximately 0.4% of the shares of the stock are sold short.
Large investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Peoples Financial Services during the second quarter worth $26,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Peoples Financial Services by 530.1% during the first quarter. BNP Paribas Arbitrage SA now owns 1,443 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 1,214 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Peoples Financial Services by 591.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,856 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 2,443 shares during the period. SG Americas Securities LLC acquired a new position in shares of Peoples Financial Services during the first quarter worth $155,000. Finally, Bank of America Corp DE lifted its holdings in Peoples Financial Services by 49.9% in the fourth quarter. Bank of America Corp DE now owns 5,147 shares of the financial services provider’s stock valued at $227,000 after buying an additional 1,714 shares during the period. Institutional investors own 25.07% of the company’s stock.
Shares of NASDAQ:PFIS traded up $0.19 during mid-day trading on Friday, reaching $43.70. 3,400 shares of the company’s stock were exchanged, compared to its average volume of 5,919. The firm has a market capitalization of $332.89 million, a price-to-earnings ratio of 12.50 and a beta of 0.30. The business’s fifty day moving average price is $44.95 and its 200-day moving average price is $44.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. Peoples Financial Services has a twelve month low of $39.01 and a twelve month high of $49.71.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.11%.
A number of analysts have weighed in on the stock. BidaskClub cut shares of Peoples Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine cut shares of Peoples Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.
About Peoples Financial Services
Peoples Financial Services Corp. operates as the bank holding company for Peoples Security Bank and Trust Company that provides financial services. The company accepts money market, NOW, savings, individual retirement, demand deposit, and certificates of deposit accounts. Its loan products include residential real estate, automobile, manufactured housing, personal, student, and home equity loans; and commercial real estate, working capital, construction, small business administration, and agricultural loans, as well as loans for equipment and other commercial needs, and mineral rights.
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