Citigroup Inc. Grows Position in Premier Financial Corp. (NASDAQ:PFC)

Citigroup Inc. grew its holdings in shares of Premier Financial Corp. (NASDAQ:PFC - Free Report) by 2,017.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 751,923 shares of the company's stock after purchasing an additional 716,406 shares during the period. Citigroup Inc. owned approximately 2.10% of Premier Financial worth $17,655,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Foundry Partners LLC raised its position in shares of Premier Financial by 1.4% in the 3rd 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 last quarter. Quest Partners LLC raised its holdings in 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 buying an additional 15,604 shares during the last quarter. Empowered Funds LLC lifted its stake 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 buying an additional 4,422 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Premier Financial by 15.3% during the third quarter. Royce & Associates LP now owns 177,965 shares of the company's stock valued at $4,179,000 after buying an additional 23,589 shares during the last quarter. Finally, Versor Investments LP increased its position in shares of Premier Financial by 538.1% during the third quarter. Versor Investments LP now owns 68,431 shares of the company's stock valued at $1,607,000 after acquiring an additional 57,707 shares in the last quarter. 66.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Dennis E. Rose, Jr. sold 2,000 shares of Premier Financial stock in a transaction on Monday, November 18th. The shares were sold at an average price of $27.98, for a total transaction of $55,960.00. Following the transaction, the executive vice president now owns 36,144 shares in the company, valued at $1,011,309.12. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.22% of the company's stock.

Analyst Ratings Changes

Separately, Janney Montgomery Scott reiterated a "neutral" rating on shares of Premier Financial in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $22.50.

Premier Financial Stock Performance

Shares of PFC stock traded down $0.09 during trading hours on Thursday, reaching $27.88. The company had a trading volume of 107,839 shares, compared to its average volume of 153,961. The firm has a market cap of $999.25 million, a PE ratio of 14.15 and a beta of 1.25. The business has a fifty day moving average price of $25.24 and a 200-day moving average price of $23.27. Premier Financial Corp. has a one year low of $18.63 and a one year high of $29.63. 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 - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The company had revenue of $112.74 million for the quarter, compared to analysts' expectations of $64.55 million. Premier Financial had a net margin of 16.06% and a return on equity of 7.43%. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Sell-side analysts predict that Premier Financial Corp. will post 2 earnings per share for the current fiscal year.

Premier Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Friday, November 8th. Premier Financial's dividend payout ratio is 62.94%.

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.