Hovde Group Cuts Peoples Financial Services (NASDAQ:PFIS) Price Target to $43.00

Peoples Financial Services (NASDAQ:PFIS) had its price target decreased by stock analysts at Hovde Group from $48.00 to $43.00 in a report issued on Monday, Briefing.com reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price target suggests a potential upside of 8.59% from the stock’s previous close.

Peoples Financial Services Stock Up 2.9 %

Shares of PFIS opened at $39.60 on Monday. Peoples Financial Services has a 52-week low of $30.60 and a 52-week high of $49.99. The company has a market capitalization of $279.58 million, a PE ratio of 12.15 and a beta of 0.48. The stock has a fifty day simple moving average of $39.52 and a two-hundred day simple moving average of $42.39. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.17.

Institutional Trading of Peoples Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of Peoples Financial Services by 87.7% during the 1st quarter. BNP Paribas Financial Markets now owns 3,400 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,589 shares during the last quarter. SG Americas Securities LLC acquired a new position in Peoples Financial Services in the 3rd quarter valued at about $139,000. Trexquant Investment LP acquired a new position in Peoples Financial Services in the 4th quarter valued at about $281,000. Quadrature Capital Ltd purchased a new position in shares of Peoples Financial Services in the 4th quarter valued at about $355,000. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Peoples Financial Services by 13.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,031 shares of the financial services provider’s stock valued at $322,000 after buying an additional 956 shares during the period. 31.67% of the stock is owned by institutional investors and hedge funds.

Peoples Financial Services Company 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.