State Street Corp Increases Stake in Premier Financial Corp. (NASDAQ:PFC)

State Street Corp grew its position in Premier Financial Corp. (NASDAQ:PFC) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,055,377 shares of the company’s stock after acquiring an additional 35,682 shares during the period. State Street Corp owned about 2.94% of Premier Financial worth $24,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PFC. Capital Performance Advisors LLP acquired a new position in Premier Financial during the 3rd quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Premier Financial during the second quarter worth $36,000. Allspring Global Investments Holdings LLC purchased a new position in Premier Financial in the second quarter worth $84,000. SG Americas Securities LLC acquired a new stake in Premier Financial in the third quarter valued at $200,000. Finally, Arizona State Retirement System purchased a new stake in shares of Premier Financial during the 2nd quarter worth $205,000. 66.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Premier Financial news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $27.98, for a total value of $55,960.00. Following the sale, the executive vice president now owns 36,144 shares of the company’s stock, valued at $1,011,309.12. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.22% of the company’s stock.

Premier Financial Stock Performance

Shares of PFC opened at $26.21 on Monday. The company has a market capitalization of $939.39 million, a PE ratio of 13.30 and a beta of 1.27. Premier Financial Corp. has a 52-week low of $18.63 and a 52-week high of $29.63. The company has a 50-day simple moving average of $26.69 and a 200-day simple moving average of $24.13. The company has a quick ratio of 0.93, a current ratio of 0.95 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 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $64.55 million. During the same period last year, the firm earned $0.69 EPS. Equities research 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 declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Friday, November 8th. Premier Financial’s dividend payout ratio is currently 62.94%.

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.