Rhumbline Advisers Decreases Position in Premier Financial Corp. (NASDAQ:PFC)

Rhumbline Advisers trimmed its position in shares of Premier Financial Corp. (NASDAQ:PFC) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,258 shares of the company’s stock after selling 6,575 shares during the quarter. Rhumbline Advisers’ holdings in Premier Financial were worth $1,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFC. Alliancebernstein L.P. boosted its position in Premier Financial by 660.1% during the first quarter. Alliancebernstein L.P. now owns 971,279 shares of the company’s stock worth $32,305,000 after purchasing an additional 843,489 shares in the last quarter. NFJ Investment Group LLC acquired a new position in shares of Premier Financial in the first quarter worth $9,682,000. Monarch Partners Asset Management LLC acquired a new position in shares of Premier Financial in the first quarter worth $6,139,000. Prudential Financial Inc. raised its holdings in shares of Premier Financial by 84.1% in the first quarter. Prudential Financial Inc. now owns 238,166 shares of the company’s stock worth $7,921,000 after acquiring an additional 108,770 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Premier Financial by 3.0% in the first quarter. BlackRock Inc. now owns 3,556,275 shares of the company’s stock worth $118,283,000 after acquiring an additional 102,664 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Premier Financial stock opened at $30.77 on Friday. The firm has a market capitalization of $1.14 billion, a P/E ratio of 8.92 and a beta of 1.53. The stock has a fifty day moving average price of $28.90 and a 200 day moving average price of $30.28. Premier Financial Corp. has a 52 week low of $14.74 and a 52 week high of $35.90. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18.

Premier Financial (NASDAQ:PFC) last released its earnings results on Thursday, July 29th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.05. The firm had revenue of $74.16 million during the quarter, compared to analyst estimates of $76.30 million. Premier Financial had a return on equity of 13.47% and a net margin of 38.97%. As a group, equities analysts predict that Premier Financial Corp. will post 3.48 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Friday, August 20th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Thursday, August 19th. This is an increase from Premier Financial’s previous quarterly dividend of $0.26. Premier Financial’s payout ratio is 39.13%.

A number of equities analysts have recently weighed in on the company. Raymond James boosted their price target on Premier Financial from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. Zacks Investment Research cut Premier Financial from a “buy” rating to a “hold” rating in a report on Wednesday, August 4th.

Premier Financial Profile

Premier Financial Corp. is a holding company, which engages in the provision of banking business. It focuses on traditional banking and property and casualty, life and, group health insurance products. It offers family real estate, multi-family residential and non-residential, consumer, commercial, construction, and home equity and improvement loans.

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

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