ABC Arbitrage SA Takes Position in Premier Financial Corp. (NASDAQ:PFC)

ABC Arbitrage SA bought a new stake in Premier Financial Corp. (NASDAQ:PFC) in the fourth quarter, HoldingsChannel reports. The fund bought 192,268 shares of the company’s stock, valued at approximately $4,916,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Premier Financial in the third quarter worth about $25,000. SG Americas Securities LLC acquired a new stake in shares of Premier Financial during the third quarter worth approximately $200,000. EMC Capital Management increased its stake in shares of Premier Financial by 511.7% in the fourth quarter. EMC Capital Management now owns 8,392 shares of the company’s stock worth $215,000 after buying an additional 7,020 shares during the last quarter. CWM LLC raised its stake in shares of Premier Financial by 42.1% in the 3rd quarter. CWM LLC now owns 9,211 shares of the company’s stock valued at $216,000 after purchasing an additional 2,731 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Premier Financial by 23.3% in the 3rd quarter. Verition Fund Management LLC now owns 12,687 shares of the company’s stock worth $298,000 after acquiring an additional 2,395 shares in the last quarter. Institutional investors and hedge funds own 66.14% of the company’s stock.

Insider Activity

In related news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $27.98, for a total transaction of $55,960.00. Following the completion of the sale, the executive vice president now directly owns 36,144 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.22% of the stock is currently owned by company insiders.

Premier Financial Price Performance

Shares of PFC opened at $29.16 on Friday. The company has a market cap of $1.05 billion, a P/E ratio of 14.65 and a beta of 1.28. The stock has a fifty day moving average price of $26.66 and a 200 day moving average price of $25.59. Premier Financial Corp. has a 12 month low of $18.63 and a 12 month high of $29.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.95 and a quick ratio of 0.93.

Premier Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 31st were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.24 annualized dividend and a dividend yield of 4.25%. Premier Financial’s dividend payout ratio is currently 62.31%.

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.