Premier Financial (NASDAQ:PFC) Trading Up 7.9% Following Dividend Announcement

Shares of Premier Financial Corp. (NASDAQ:PFC) shot up 7.9% during trading on Thursday after the company announced a dividend. The company traded as high as $27.10 and last traded at $27.25. 28,819 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 183,323 shares. The stock had previously closed at $25.24.

The newly announced dividend which will be paid on Friday, February 7th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, January 31st. Premier Financial’s dividend payout ratio is presently 62.31%.

Premier Financial Stock Performance

The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $986.50 million, a PE ratio of 13.70 and a beta of 1.28. The firm’s fifty day moving average is $26.60 and its 200-day moving average is $25.07.

Premier Financial (NASDAQ:PFC) last issued its quarterly earnings data 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 7.66% and a net margin of 16.12%. The company had revenue of $112.74 million during the quarter, compared to analyst estimates of $64.55 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. As a group, research analysts anticipate that Premier Financial Corp. will post 2.15 earnings per share for the current year.

Insider Activity at Premier Financial

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

Institutional Trading of Premier Financial

Several hedge funds have recently added to or reduced their stakes in PFC. Capital Performance Advisors LLP acquired a new stake in shares of Premier Financial during the 3rd quarter worth about $25,000. SG Americas Securities LLC purchased a new position in Premier Financial in the third quarter valued at approximately $200,000. Magnetar Financial LLC acquired a new stake in Premier Financial during the second quarter worth approximately $212,000. CWM LLC lifted its position in shares of Premier Financial by 42.1% during the 3rd quarter. CWM LLC now owns 9,211 shares of the company’s stock worth $216,000 after buying an additional 2,731 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Premier Financial in the 2nd quarter valued at $219,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

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.