Premier Financial (NASDAQ:PFC) Shares Up 7.9% Following Dividend Announcement

Premier Financial Corp. (NASDAQ:PFC - Get Free Report) rose 7.9% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $27.10 and last traded at $27.25. Approximately 28,819 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 183,323 shares. The stock had previously closed at $25.24.

The newly announced dividend which will be paid on Friday, February 7th. Stockholders of record on Friday, January 31st will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, January 31st. Premier Financial's dividend payout ratio (DPR) is currently 62.31%.

Premier Financial Stock Up 2.5 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 0.95. The firm's 50-day moving average is $26.57 and its two-hundred day moving average is $25.08. The stock has a market cap of $978.43 million, a P/E ratio of 13.72 and a beta of 1.28.

Premier Financial (NASDAQ:PFC - Get Free Report) 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). Premier Financial had a return on equity of 7.66% and a net margin of 16.12%. The business had revenue of $112.74 million for the quarter, compared to analyst estimates of $64.55 million. During the same period in the prior year, the firm posted $0.69 EPS. On average, equities research analysts anticipate that Premier Financial Corp. will post 2.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the company's stock in a transaction on 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 transaction, the executive vice president now directly owns 36,144 shares of the company's stock, valued at approximately $1,011,309.12. This represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.22% of the company's stock.

Institutional Investors Weigh In On Premier Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. EMC Capital Management lifted its position in Premier Financial by 511.7% during the 4th quarter. EMC Capital Management now owns 8,392 shares of the company's stock worth $215,000 after buying an additional 7,020 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Premier Financial by 5.4% in the 4th quarter. Inspire Investing LLC now owns 38,592 shares of the company's stock valued at $987,000 after purchasing an additional 1,985 shares during the period. SG Americas Securities LLC raised its holdings in shares of Premier Financial by 13.4% in the 4th quarter. SG Americas Securities LLC now owns 9,646 shares of the company's stock valued at $247,000 after purchasing an additional 1,139 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Premier Financial by 32.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 383,616 shares of the company's stock valued at $9,809,000 after purchasing an additional 94,000 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Premier Financial by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 653,065 shares of the company's stock valued at $15,334,000 after purchasing an additional 49,367 shares during the period. 66.14% of the stock is owned by institutional investors.

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.