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

Peoples Financial Services Corp. (NASDAQ:PFIS) declared a quarterly dividend on Friday, July 31st. Investors 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) annualized dividend 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 every year for the last 8 years. Peoples Financial Services has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings.

Peoples Financial Services Stock Performance

PFIS opened at $69.63 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $68.83 and its two-hundred day moving average price is $60.97. The firm has a market capitalization of $697.00 million, a P/E ratio of 7.89 and a beta of 0.75. Peoples Financial Services has a 12-month low of $43.64 and a 12-month high of $73.37.

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

Wall Street Analyst Weigh In

PFIS has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Peoples Financial Services in a research report on Tuesday, June 9th. Hovde Group increased their price target on Peoples Financial Services from $61.00 to $75.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company 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.