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Richard S. Lochen Jr., a director at Peoples Financial Services Corp. (NASDAQ:PFIS), recently purchased shares in the company, according to a filing with the Securities and Exchange Commission. On March 5, Lochen acquired a total of 1,000 shares of common stock, with transaction prices ranging from $47.1147 to $47.1446 per share, amounting to a total value of $47,123. According to InvestingPro analysis, PFIS currently trades at a P/E ratio of 47.09, suggesting a premium valuation relative to peers.
Following these transactions, Lochen’s direct ownership in the company has increased to 17,128.946 shares. Additionally, he holds shares indirectly through an Individual Retirement Account (IRA) and as a custodian for a child under the UTMA/PA, bringing his total indirect holdings to 4,569.447 shares. For comprehensive insider trading analysis and more insights, consider subscribing to InvestingPro.
These transactions reflect Lochen’s continued investment in Peoples Financial Services, a national commercial bank headquartered in Dunmore, Pennsylvania. The company has maintained dividend payments for 24 consecutive years and recently showed strong dividend growth of 50.6% over the last twelve months, with a current dividend yield of 5.28%.
In other recent news, Peoples Financial Services Corp. has announced a significant 50.6% increase in its quarterly cash dividend, setting it at $0.6175 per share. This dividend is scheduled to be paid on March 14, 2025, to shareholders recorded by February 28, 2025. This development follows the company’s merger with FNCB Bancorp, Inc., completed on July 1, 2024, which was anticipated to bring synergies and operational efficiencies. Peoples Financial Services has expressed optimism about the merger’s potential benefits, though it acknowledges risks and uncertainties related to these expectations. The company operates 39 full-service community banking offices across Pennsylvania, New Jersey, and New York. The recent dividend increase underscores Peoples Financial Services’ financial strength and its commitment to shareholder value. Investors are advised to consider the factors influencing the company’s financial performance and the actual benefits realized from the merger.
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