Dimensional Fund Advisors LP recently announced the acquisition of new stake in Premier Financial Corp. (NASDAQ:PFC). The institutional investor has increased its shareholding in the Financial company by 2.88% to 2.49 million shares with purchase of 69788.0 shares. This fresh investment now brings its stake to 7.01% valued currently at $67.25 million. In addition, AllianceBernstein LP raised its holdings by 0.34 million to 1.19 million shares. And Invesco Capital Management LLC has lifted its position by 0.46% or 5283.0 shares – to 1.15 million shares.
With over 75782.0 Premier Financial Corp. (PFC) shares trading Tuesday and a closing price of $27.17 on the day, the dollar volume was approximately $2.06 million. The shares have shown a positive half year performance of 0.04% and its price on 01/24/23 lost nearly -1.09%. Currently, there are 35.58M common shares owned by the public and among those 34.95M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for PFC have a consensus price objective of $32.00. The analysts have set the share’s price value over the next 12 months at a high of $34.50 and a low of $29.50. The average price target is 15.09% above its recent price level and an upside to the estimated low will see the stock gain 7.9% over that period. But an upside of 21.25% will see the stock hit the forecast high price target while median target price for the stock is $32.00.
Insiders at the company have transacted a total of 30 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 50,455 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 38,377 shares.
The top 3 mutual fund holders in Premier Financial Corp. are Invesco High Yield Equity Dividen, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Invesco High Yield Equity Dividen owns 1.08 million shares of the company’s stock, all valued at over $29.2 million. The company bought an additional 1898.0 shares recently to bring their total holdings to about 3.04% of the shares outstanding. Vanguard Total Stock Market Index bought 12007.0 shares to see its total holdings expand to 1.06 million shares valued at over $28.6 million and representing 2.98% of the shares outstanding. iShares Russell 2000 ETF sold 8662.0 shares to bring its total holdings to over 0.83 million shares at a value of $22.47 million. iShares Russell 2000 ETF now owns shares totaling to 2.34% of the shares outstanding.
However, the script later moved the day high at 27.47, down -1.09%. The company’s stock has a 5-day price change of -1.42% and -1.31% over the past three months. PFC shares are trading 0.74% year to date (YTD), with the 12-month market performance down to -7.87% lower. It has a 12-month low price of $24.35 and touched a high of $32.88 over the same period. PFC has an average intraday trading volume of 95.85K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.10%, -2.64%, and -0.43% respectively.
Institutional ownership of Premier Financial Corp. (NASDAQ: PFC) shares accounts for 68.10% of the company’s 35.58M shares outstanding. Mutual fund holders own 25.98%, while other institutional holders and individual stakeholders account for 41.36% and 1.71% respectively.
It has a market capitalization of $950.95M and a beta (3y monthly) value of 1.23. The stock’s trailing 12-month PE ratio is 9.58, while the earnings-per-share (ttm) stands at $2.84. The company has a PEG of 1.06 and the debt-to-equity ratio at 0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.99% over the week and 1.81% over the month.
Analysts forecast that Premier Financial Corp. (PFC) will achieve an EPS of $0.81 for the current quarter, $0.79 for the next quarter and $3.25 for 2023. The lowest estimate earnings-per-share for the quarter is $0.8 while analysts give the company a high EPS estimate of $0.83. Comparatively, EPS for the current quarter was $0.69 a year ago. Earnings per share for the fiscal year are expected to increase by 93.20%, and 8.59% over the next financial year. EPS should shrink at an annualized rate of 9.00% over the next five years, compared to 16.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Premier Financial Corp. (PFC) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PFC, a number of firms have released research notes about the stock. Keefe Bruyette stated their Mkt Perform rating for the stock in a research note on December 13, 2022, with the firm’s price target at $32.