Short Interest in Premier Financial Corp. (NASDAQ:PFC) Grows By 72.4%

Premier Financial Corp. (NASDAQ:PFC) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 387,100 shares, an increase of 72.4% from the January 31st total of 224,500 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily volume of 175,800 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Investors Weigh In On Premier Financial

Hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp purchased a new stake in Premier Financial during the 4th quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in shares of Premier Financial during the 3rd quarter worth approximately $25,000. Sterling Capital Management LLC grew its position in shares of Premier Financial by 804.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 1,006 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Premier Financial during the fourth quarter worth approximately $106,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Premier Financial during the fourth quarter worth approximately $174,000. 66.14% of the stock is currently owned by institutional investors and hedge funds.

Premier Financial Price Performance

Shares of NASDAQ PFC traded up $0.06 during midday trading on Tuesday, hitting $28.13. The stock had a trading volume of 3,065,000 shares, compared to its average volume of 164,247. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $26.93 and a 200-day simple moving average of $25.98. The company has a market capitalization of $1.01 billion, a PE ratio of 14.13 and a beta of 1.28. Premier Financial has a 1 year low of $18.63 and a 1 year high of $29.64.

Premier Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 31st were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.24 annualized dividend and a yield of 4.41%. Premier Financial’s dividend payout ratio (DPR) is presently 62.31%.

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.