Algert Global LLC Trims Stock Position in Premier Financial Corp. (NASDAQ:PFC)

Algert Global LLC decreased its stake in Premier Financial Corp. (NASDAQ:PFC) by 69.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,206 shares of the company’s stock after selling 62,679 shares during the quarter. Algert Global LLC owned approximately 0.08% of Premier Financial worth $662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Premier Financial in the 3rd quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in shares of Premier Financial during the 2nd quarter worth approximately $36,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Premier Financial during the 2nd quarter valued at approximately $84,000. CWM LLC grew its stake in Premier Financial by 296.8% in the 2nd quarter. CWM LLC now owns 6,480 shares of the company’s stock valued at $133,000 after acquiring an additional 4,847 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Premier Financial in the 3rd quarter worth $200,000. 66.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Premier Financial news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the 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 completion of the sale, the executive vice president now owns 36,144 shares in the company, valued at approximately $1,011,309.12. This represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.22% of the stock is currently owned by corporate insiders.

Premier Financial Stock Performance

NASDAQ:PFC opened at $27.71 on Friday. The company has a fifty day moving average of $25.37 and a two-hundred day moving average of $23.35. Premier Financial Corp. has a fifty-two week low of $18.63 and a fifty-two week high of $29.63. The stock has a market capitalization of $993.13 million, a PE ratio of 14.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 0.95.

Premier Financial (NASDAQ:PFC) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.46 earnings per share 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 company had revenue of $112.74 million for the quarter, compared to analyst estimates of $64.55 million. During the same quarter last year, the company earned $0.69 EPS. As a group, research analysts forecast that Premier Financial Corp. will post 2 earnings per share for the current fiscal year.

Premier Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 4.47%. Premier Financial’s payout ratio is currently 62.94%.

About Premier Financial

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.