Premier Financial (NASDAQ:PFC) Sets New 1-Year High – Here’s What Happened

Premier Financial Corp. (NASDAQ:PFC)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $29.51 and last traded at $29.51, with a volume of 1102 shares. The stock had previously closed at $28.85.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott reiterated a “neutral” rating on shares of Premier Financial in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.50.

Premier Financial Price Performance

The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 14.20 and a beta of 1.25. The firm has a 50-day simple moving average of $25.17 and a two-hundred day simple moving average of $23.24. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42.

Premier Financial (NASDAQ:PFC) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). Premier Financial had a net margin of 16.06% and a return on equity of 7.43%. The company had revenue of $112.74 million for the quarter, compared to analysts’ expectations of $64.55 million. During the same quarter in the prior year, the business posted $0.69 earnings per share. As a group, analysts predict that Premier Financial Corp. will post 2 earnings per share for the current fiscal year.

Premier Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, November 8th. Premier Financial’s dividend payout ratio is currently 62.94%.

Insider Buying and Selling

In related news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $27.98, for a total value of $55,960.00. Following the completion of the transaction, the executive vice president now owns 36,144 shares of the company’s stock, valued at approximately $1,011,309.12. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.22% of the stock is currently owned by insiders.

Institutional Trading of Premier Financial

A number of institutional investors and hedge funds have recently made changes to their positions in PFC. Capital Performance Advisors LLP acquired a new stake in shares of Premier Financial in the third quarter valued at about $25,000. Rhumbline Advisers boosted its holdings in Premier Financial by 1.9% in the 2nd quarter. Rhumbline Advisers now owns 58,144 shares of the company’s stock worth $1,190,000 after buying an additional 1,075 shares during the last quarter. Victory Capital Management Inc. increased its stake in Premier Financial by 2.8% during the 2nd quarter. Victory Capital Management Inc. now owns 48,300 shares of the company’s stock worth $988,000 after buying an additional 1,300 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Premier Financial by 8.6% during the second quarter. Evergreen Capital Management LLC now owns 17,912 shares of the company’s stock valued at $366,000 after acquiring an additional 1,414 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Premier Financial by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,630 shares of the company’s stock valued at $500,000 after acquiring an additional 1,473 shares in the last quarter. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

About Premier Financial

Premier Financial Corp., through its subsidiaries, provides various banking services. It offers demand, checking, money market, and savings accounts, as well as certificates of deposits and certificates of deposit account registry service; and investment products. The company also provides residential and commercial real estate, commercial, construction, home improvement and home equity, installment, and consumer loans.