Premier Financial (NASDAQ:PFC) Reaches New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott reissued a “neutral” rating on shares of Premier Financial in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Premier Financial currently has an average rating of “Hold” and an average target price of $22.50.

Premier Financial Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 0.95 and a quick ratio of 0.93. The stock’s fifty day moving average is $25.02 and its 200-day moving average is $23.14. The stock has a market cap of $1.04 billion, a PE ratio of 14.64 and a beta of 1.25.

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

Premier Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Friday, November 8th. Premier Financial’s dividend payout ratio is presently 62.94%.

Insider Buying and Selling

In related news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $27.98, for a total transaction 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 trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Premier Financial by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 1,983,708 shares of the company’s stock worth $40,269,000 after acquiring an additional 10,557 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Premier Financial by 153.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 14,286 shares of the company’s stock valued at $289,000 after acquiring an additional 8,656 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 purchasing an additional 1,473 shares during the period. EJF Capital LLC grew its stake in Premier Financial by 490.8% during the 1st quarter. EJF Capital LLC now owns 158,633 shares of the company’s stock worth $3,220,000 after purchasing an additional 131,783 shares in the last quarter. Finally, EMC Capital Management increased its holdings in Premier Financial by 56.9% during the 1st quarter. EMC Capital Management now owns 8,392 shares of the company’s stock worth $170,000 after purchasing an additional 3,043 shares during the period. 66.14% of the stock is currently owned by institutional investors and hedge funds.

Premier Financial Company Profile

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.