Charles Schwab Investment Management Inc. Reduces Stock Position in Premier Financial Corp. (NASDAQ:PFC)

Charles Schwab Investment Management Inc. lowered its stake in shares of Premier Financial Corp. (NASDAQ:PFC) by 5.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,244,518 shares of the company’s stock after selling 71,933 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Premier Financial were worth $29,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Foundry Partners LLC increased its holdings in shares of Premier Financial by 1.4% in the third quarter. Foundry Partners LLC now owns 191,030 shares of the company’s stock worth $4,485,000 after purchasing an additional 2,595 shares during the period. Quest Partners LLC increased its holdings in shares of Premier Financial by 133.5% in the third quarter. Quest Partners LLC now owns 27,295 shares of the company’s stock worth $641,000 after purchasing an additional 15,604 shares during the period. Empowered Funds LLC increased its holdings in shares of Premier Financial by 5.3% in the third quarter. Empowered Funds LLC now owns 88,183 shares of the company’s stock worth $2,071,000 after purchasing an additional 4,422 shares during the period. Royce & Associates LP increased its holdings in shares of Premier Financial by 15.3% in the third quarter. Royce & Associates LP now owns 177,965 shares of the company’s stock worth $4,179,000 after purchasing an additional 23,589 shares during the period. Finally, Versor Investments LP increased its holdings in shares of Premier Financial by 538.1% in the third quarter. Versor Investments LP now owns 68,431 shares of the company’s stock worth $1,607,000 after purchasing an additional 57,707 shares during the period. Hedge funds and other institutional investors own 66.14% of the company’s stock.

Premier Financial Stock Up 1.7 %

PFC opened at $27.91 on Thursday. The stock has a market cap of $1.00 billion, a PE ratio of 14.17 and a beta of 1.27. 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 Corp. has a 52 week low of $18.63 and a 52 week high of $29.63. The business’s fifty day simple moving average is $25.53 and its 200 day simple moving average is $23.47.

Premier Financial (NASDAQ:PFC) last released its earnings results on Tuesday, October 22nd. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The firm had revenue of $112.74 million during the quarter, compared to the consensus estimate of $64.55 million. Premier Financial had a net margin of 16.06% and a return on equity of 7.43%. During the same period in the prior year, the company earned $0.69 EPS. As a group, research analysts expect that Premier Financial Corp. will post 2 earnings per share for the current fiscal year.

Premier Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.31 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 4.44%. Premier Financial’s dividend payout ratio is presently 62.94%.

Insider Activity at Premier Financial

In other news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $27.98, for a total transaction of $55,960.00. Following the transaction, the executive vice president now directly owns 36,144 shares of the company’s stock, valued at approximately $1,011,309.12. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.22% of the stock is owned by insiders.

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.