Premier Financial Corp. (NASDAQ:PFC) Sees Significant Growth in Short Interest

Premier Financial Corp. (NASDAQ:PFCGet Rating) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 655,800 shares, a growth of 39.2% from the March 15th total of 471,100 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average trading volume of 183,800 shares, the short-interest ratio is currently 3.6 days.

NASDAQ PFC traded up $0.05 during trading hours on Monday, hitting $28.71. The company had a trading volume of 2,746 shares, compared to its average volume of 176,010. Premier Financial has a fifty-two week low of $25.80 and a fifty-two week high of $34.00. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.45 and a beta of 1.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.89 and a quick ratio of 0.86. The firm’s 50 day moving average is $30.45 and its 200 day moving average is $30.93.

Premier Financial (NASDAQ:PFCGet Rating) last announced its quarterly earnings results on Monday, January 24th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.08). The company had revenue of $75.03 million during the quarter, compared to analyst estimates of $74.53 million. Premier Financial had a net margin of 38.96% and a return on equity of 12.35%. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, equities analysts anticipate that Premier Financial will post 2.9 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 18th. Shareholders of record on Friday, February 11th were given a $0.30 dividend. This is a boost from Premier Financial’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Thursday, February 10th. Premier Financial’s dividend payout ratio is presently 35.40%.

A number of analysts have recently commented on the company. Piper Sandler downgraded Premier Financial from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $35.00 to $34.00 in a report on Wednesday, January 12th. They noted that the move was a valuation call. Zacks Investment Research downgraded Premier Financial from a “buy” rating to a “hold” rating in a report on Saturday, February 26th. Finally, Janney Montgomery Scott upgraded Premier Financial from a “neutral” rating to a “buy” rating in a report on Wednesday, February 23rd.

In other news, Director Donald P. Hileman sold 1,000 shares of the company’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $30.56, for a total transaction of $30,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Schiraldi sold 26,700 shares of the company’s stock in a transaction on Friday, February 11th. The stock was sold at an average price of $30.80, for a total value of $822,360.00. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

A number of large investors have recently bought and sold shares of PFC. Moors & Cabot Inc. purchased a new position in Premier Financial in the 3rd quarter valued at about $27,000. Clearstead Advisors LLC bought a new position in shares of Premier Financial during the fourth quarter worth about $31,000. New York State Teachers Retirement System bought a new position in shares of Premier Financial during the fourth quarter worth about $99,000. Advisor Group Holdings Inc. lifted its position in shares of Premier Financial by 14.5% during the third quarter. Advisor Group Holdings Inc. now owns 5,982 shares of the company’s stock worth $190,000 after purchasing an additional 759 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Premier Financial during the fourth quarter worth about $202,000. 68.54% of the stock is owned by institutional investors.

About Premier Financial (Get Rating)

Premier Financial Corp., through its subsidiaries, provides various banking services. It offers various 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, and consumer loans.

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