Shares of Premier Financial Corp. (NASDAQ:PFC – Get Free Report) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $16.29, but opened at $17.44. Premier Financial shares last traded at $16.42, with a volume of 8,434 shares changing hands.
The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. Premier Financial had a net margin of 28.25% and a return on equity of 11.11%. The business had revenue of $67.52 million during the quarter, compared to the consensus estimate of $65.04 million.
Wall Street Analysts Forecast Growth
Separately, TheStreet downgraded shares of Premier Financial from a “b-” rating to a “c+” rating in a research note on Wednesday, September 6th.
Insider Activity
In other news, Director Donald P. Hileman sold 1,500 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $21.31, for a total transaction of $31,965.00. Following the transaction, the director now owns 101,886 shares in the company, valued at $2,171,190.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.
Hedge Funds Weigh In On Premier Financial
Several institutional investors have recently made changes to their positions in PFC. Tower Research Capital LLC TRC increased its position in shares of Premier Financial by 365.2% during the first quarter. Tower Research Capital LLC TRC now owns 1,335 shares of the company’s stock worth $28,000 after acquiring an additional 1,048 shares in the last quarter. US Bancorp DE increased its position in shares of Premier Financial by 149.9% during the second quarter. US Bancorp DE now owns 1,869 shares of the company’s stock worth $30,000 after acquiring an additional 1,121 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Premier Financial during the first quarter worth about $66,000. Lindbrook Capital LLC increased its position in shares of Premier Financial by 774.1% during the second quarter. Lindbrook Capital LLC now owns 2,325 shares of the company’s stock worth $37,000 after acquiring an additional 2,059 shares in the last quarter. Finally, Money Concepts Capital Corp bought a new stake in shares of Premier Financial during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 65.32% of the company’s stock.
Premier Financial Trading Up 1.9 %
The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $17.81 and its 200 day moving average price is $17.45. The company has a market capitalization of $593.12 million, a P/E ratio of 4.94 and a beta of 1.28.
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, and consumer loans.
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