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Creative Planning, a well-known financial planning and investment management firm, recently announced that it had increased its position in Premier Financial Corp. by a staggering 189.5% during the fourth quarter of last year. This came to light after Creative Planning disclosed this information in its most recent Form 13F filing with the Securities & Exchange Commission.
As per their disclosure, Creative Planning now owns an additional 16,058 shares of Premier Financial Corp., resulting in them owning 24,533 shares of the company’s stock. This represents a substantial increase from their previous holding and means that Creative Planning now owns approximately 0.07% of Premier Financial’s outstanding shares. The total value of their holdings is estimated to be around $662,000 at the end of the most recent quarter.
Premier Financial Corp. offers various banking services and is primarily involved in providing demand deposits, checking accounts, savings accounts, certificates of deposit, and investment products for customers. The bank also provides loans for various purposes such as residential and commercial real estate loans, construction loans, home improvement loans, home equity lines of credit, as well as consumer loans.
At present, PFC opened at $17.00 on Friday and has a market capitalization of $607.41 million with a price-to-earnings ratio of 6.44 and a beta value of 1.18. The company has a debt-to-equity ratio of 0.81 while maintaining a current ratio of 1:00 along with a quick ratio of 0:99.
Additionally worth noting is PFC’s past performance: they have seen fluctuations between $13.60 (their lowest price in one year) and $30:80 (the highest point they’ve hit within one year.) Currently residing at their fifty day moving average price of $16:60 with their two-hundred-day moving average price sitting comfortably at $22:47.
Although the reason behind Creative Planning’s decision to increase their holdings in Premier Financial Corp. by 189.5% is unknown at this time, it should be mentioned that the move has caught the attention of many investors. Their recent investment has received praise and sparked discussions throughout various financial platforms.
In conclusion, Creative Planning’s decision to increase its position in Premier Financial Corp. adds a new dynamic for both companies and their investors. The sector will look forward with great interest on any future decisions made by these two entities or further developments from outside market factors.
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Date:08 June, 2023
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Premier Financial Corp sees increase in institutional investor activity despite rating downgrades
Premier Financial Corp, a leading provider of various banking services, has recently seen an increase in hedge funds and institutional investors buying and selling shares. Invesco Ltd boosted its stake in the company by 1,681.2%, while Alliancebernstein L.P increased its stake by 40.1% during the third quarter alone. State Street Corp also raised its stake by 34.8% within the first quarter, followed by Dimensional Fund Advisors LP which raised its stake by 2.9% to over 2 million shares.
Sequoia Financial Advisors LLC also recently increased its Premier Financial holdings by 120% in the fourth quarter alone, taking its total stake to over $2 million in value. Furthermore, it is interesting to note that around two-thirds of the stock is owned by institutional investors.
The bank has experienced a number of rating deviations from equity analysts on Wall Street recently. TheStreet downgraded Premier Financial from b- to c+ while Keefe, Bruyette & Woods reduced their price objective from $30.00 to $27.00 and issued a “market perform” rating for the bank’s performance.
Despite this news, Premier Financial remains one of the leading providers of commercial real estate lending and investment products among other financial offerings including home loans, personal savings schemes aimed at keeping pace with rising consumer demand alongside meeting customer expectations for a range of complex banking solutions.
Premier Financial last released earnings results on April 25th reporting $0.63 per share on revenue reaching $68.75 million for Q1 fiscal year 2017 – missing analysts’ consensus estimates of $0.70 EPS though there has been optimism predicting they will reach projected earnings per share figures of up to 2.34 for this fiscal year by experts identified within major reviews within corporate analytics media spaces tracking the company’s progress closely.
It should be noted that PFC recently declared quarterly dividends that were paid to shareholders on May 12th, issuing a dividend of $0.31 per share for those with shares as of May 5th this year. This represents an annualized dividend yield of 7.29%, providing investors with hope for future prospects in the company and a good sign for the overall performance growth measures.
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