State of New Jersey Common Pension Fund D Has $2 Million Position in Premier Financial Corp. (NASDAQ:PFC)

State of New Jersey Common Pension Fund D lessened its holdings in Premier Financial Corp. (NASDAQ:PFC) by 32.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,742 shares of the company’s stock after selling 46,795 shares during the period. State of New Jersey Common Pension Fund D owned 0.27% of Premier Financial worth $2,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PFC. Charles Schwab Investment Management Inc. raised its position in shares of Premier Financial by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,065,098 shares of the company’s stock valued at $25,669,000 after purchasing an additional 48,257 shares during the period. Dimensional Fund Advisors LP grew its stake in Premier Financial by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,254,801 shares of the company’s stock valued at $54,342,000 after buying an additional 17,231 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Premier Financial by 16.5% in the 4th quarter. Principal Financial Group Inc. now owns 14,679 shares of the company’s stock valued at $354,000 after acquiring an additional 2,084 shares during the period. Franklin Resources Inc. lifted its position in Premier Financial by 10.6% during the fourth quarter. Franklin Resources Inc. now owns 191,530 shares of the company’s stock worth $4,616,000 after acquiring an additional 18,284 shares during the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. boosted its holdings in shares of Premier Financial by 153.4% during the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 198,733 shares of the company’s stock worth $4,789,000 after acquiring an additional 120,299 shares during the period. Institutional investors and hedge funds own 66.14% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott reiterated 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 company’s stock. According to MarketBeat.com, Premier Financial currently has an average rating of “Hold” and a consensus price target of $22.50.

Insider Buying and Selling at Premier Financial

In other Premier Financial news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $25.01, for a total transaction of $50,020.00. Following the completion of the transaction, the executive vice president now owns 38,114 shares of the company’s stock, valued at $953,231.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $25.01, for a total value of $50,020.00. Following the completion of the sale, the executive vice president now directly owns 38,114 shares in the company, valued at $953,231.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald P. Hileman sold 1,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $23.64, for a total value of $35,460.00. Following the completion of the sale, the director now directly owns 28,311 shares of the company’s stock, valued at approximately $669,272.04. The disclosure for this sale can be found here. Insiders own 2.22% of the company’s stock.

Premier Financial Trading Down 4.0 %

Shares of Premier Financial stock opened at $24.09 on Friday. Premier Financial Corp. has a 52-week low of $15.79 and a 52-week high of $26.40. The stock has a market cap of $862.74 million, a PE ratio of 7.77 and a beta of 1.26. The firm has a 50-day moving average of $24.35 and a 200-day moving average of $21.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.95 and a current ratio of 0.97.

Premier Financial (NASDAQ:PFC) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). Premier Financial had a net margin of 18.07% and a return on equity of 8.19%. The business had revenue of $110.55 million during the quarter, compared to the consensus estimate of $63.20 million. During the same period in the prior year, the firm earned $0.68 EPS. As a group, sell-side analysts forecast that Premier Financial Corp. will post 1.98 EPS for the current year.

Premier Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Friday, August 9th. Premier Financial’s payout ratio is currently 40.00%.

Premier Financial 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.