Alps Advisors Inc. Makes New Investment in Premier Financial Corp. (NASDAQ:PFC)

Alps Advisors Inc. acquired a new stake in Premier Financial Corp. (NASDAQ:PFCFree Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,190 shares of the company’s stock, valued at approximately $310,000. Alps Advisors Inc. owned about 0.05% of Premier Financial as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of Premier Financial by 1,681.2% in the 1st quarter. Invesco Ltd. now owns 759,094 shares of the company’s stock valued at $23,023,000 after buying an additional 716,477 shares during the period. ProShare Advisors LLC purchased a new stake in Premier Financial during the 2nd quarter worth approximately $7,725,000. Alliancebernstein L.P. grew its position in shares of Premier Financial by 40.1% in the 3rd quarter. Alliancebernstein L.P. now owns 1,190,956 shares of the company’s stock worth $30,608,000 after acquiring an additional 340,964 shares in the last quarter. State Street Corp grew its position in shares of Premier Financial by 34.8% in the 1st quarter. State Street Corp now owns 1,038,636 shares of the company’s stock worth $31,502,000 after acquiring an additional 268,057 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Premier Financial by 6.3% during the 2nd quarter. BlackRock Inc. now owns 4,148,292 shares of the company’s stock valued at $66,456,000 after purchasing an additional 244,224 shares during the period. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Insider Buying and Selling

In related news, Director Donald P. Hileman sold 1,500 shares of Premier Financial stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.07, for a total transaction of $30,105.00. Following the completion of the transaction, the director now owns 31,311 shares in the company, valued at $628,411.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Premier Financial Stock Performance

PFC stock opened at $19.92 on Wednesday. The business’s fifty day moving average is $21.14 and its 200-day moving average is $20.02. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.37. The company has a market cap of $711.74 million, a P/E ratio of 6.41 and a beta of 1.26. Premier Financial Corp. has a twelve month low of $13.60 and a twelve month high of $24.87.

Premier Financial (NASDAQ:PFCGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). Premier Financial had a net margin of 24.39% and a return on equity of 9.76%. The firm had revenue of $64.34 million during the quarter, compared to analyst estimates of $66.15 million. Equities research analysts forecast that Premier Financial Corp. will post 2.14 EPS for the current year.

Premier Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 6.22%. The ex-dividend date was Thursday, February 8th. Premier Financial’s payout ratio is 39.87%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PFC shares. TheStreet upgraded Premier Financial from a “c+” rating to a “b-” rating in a research report on Wednesday, December 13th. Keefe, Bruyette & Woods cut their price target on Premier Financial from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Hovde Group assumed coverage on Premier Financial in a report on Tuesday, November 21st. They issued a “market perform” rating and a $23.00 target price for the company. Finally, Piper Sandler initiated coverage on Premier Financial in a research report on Friday, February 23rd. They set a “neutral” rating and a $21.00 price target on the stock.

Get Our Latest Analysis on PFC

Premier Financial Profile

(Free Report)

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, and consumer loans.

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Institutional Ownership by Quarter for Premier Financial (NASDAQ:PFC)

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