English
Français
Deutsch
Italiano
Русский
Español
简体中文
हिन्दी
日本語
First Trust Advisors LP Takes a Leap of Faith with Premier Financial Corp.
Over the years, Premier Financial Corp. has made a name for itself as a reliable provider of banking services, catering to both personal and commercial needs. With demand accounts, checking accounts, money market funds, savings accounts and various investment options in its arsenal, it has built up quite the loyal customer base. However, in recent times, one of its stakeholders has taken a huge leap forward by upping their stake in the company.
According to First Trust Advisors LP’s recent Form 13F filing with Securities and Exchange Commission (SEC), they have increased their holdings in Premier Financial Corp. by an astounding 60.4% during the fourth quarter of (reference date). This means that First Trust Advisors LP now owns 29,024 shares in the company’s stock after acquiring an additional 10,928 shares during the said quarter. At present value this equates to being worth $783,000 as per SEC filing details. With this significant increase in ownership stake at Premier Financial Corp., First Trust Advisors LP now owns nearly 0.08% of total equity.
The rise earned PFC positive traction on NASDAQ: opening at $16.83 on Thursday (Reference Date) putting them within sight of their $13.60-$30.80 trading band.
It is important to mention that Premier Financial Corp.’s operations extend far beyond ordinary banking affairs; offering residential and commercial real estate financial solutions – encompassing commercial loans infused with construction finance or home improvement products covering both consumer and commercial bases. Moreover provision also extends towards investment based opportunities.
Premier Financial Corp’s outstanding offerings are part of what compelled many shareholders like First Trust Advisors LP to invest in such an impressive institution; while others ponder taking a similar route.
Treasury yields are maintaining their upward trend which is great causing most stocks to thrive too; It is still advised that potential investors review market fluctuations regularly before investing. Nevertheless, Premier Financial Corp. is one to keep an eye on as it continues to flourish at an impressive rate.
Social Sentiments
4:00 PM (UTC)
Date:08 June, 2023
0
Twitter Sentiment
0
Stocktwits Sentiment
Show more
Premier Financial Corp. – Banking Services and Performance Analysis
Premier Financial Corp. is a Cincinnati-based banking services provider offering a range of financial products to its customers. The company offers demand, checking, money market and savings accounts to depositors alongside certificates of deposits and investment products. Additionally, the firm’s residential and commercial real estate, commercial, construction, home improvement and home equity as well as consumer loans aim to cater its customer needs from varied sectors of the economy.
Recently analysts have weighed in on Premier Financial Corp.’s performance with TheStreet downgrading the firm from a “b-” rating to a “c+” rating in May earlier this year. Investment bank Keefe, Bruyette & Woods decreased its price objective for Premier Financial from $30.00 to $27.00 while assigning a “market perform” rating in contrast to Tuesday’s stock price reading of $16.60 per share.
Premier Financial Corporation reported quarterly earnings results on April 25th indicating an EPS (earnings-per-share) of $0.63 for the quarter lower than consensus estimates by ($0.07). The company’s return on equity was recorded at 11.02% with net margins standing at 26.19%. These angles stood against market expectations expecting Premier Financial Corporation to post an estimated EPS of 2.34 for the current fiscal year based on revenue projections considered by equities research analysts.
A number of hedge funds and institutional investors have modified their holdings in Premier Financial Corporation with groups including Point72 Hong Kong Ltd adding shares valued at around $66k during Q1-2017 alone while Clearstead Advisors LLC acquired an additional 1789 shares valued approximately at about$72k based on gains seen during last year’s third quarter actions taken by capital management firms such as Tower Research Capital LLC TRC boosting its stake in Premier Financial Corporation by investing over four thousand shares.
Notably, amidst this shift towards nominally more conservative outlooks concerning Premier Financial itself, the banking services provider recently paid its quarterly dividend. Records indicate investors of the firm on record on Friday, May 5th were given a $0.31 dividend while the ex-dividend date for said offering was Thursday, May 4th establishing Premier Financial’s dividend rate at an annualized yield of about 7.37%. Results for such firms that cater essentially to market participants with significant holding positions can often provide a basis for further interpretations by traders and analysts alike.
Read the full article here
