Premier Financial Corp. (NASDAQ:PFC) Plans $0.31 Quarterly Dividend

Premier Financial Corp. (NASDAQ:PFC) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, May 3rd will be paid a dividend of 0.31 per share on Friday, May 10th. This represents a $1.24 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date is Thursday, May 2nd.

Premier Financial has raised its dividend by an average of 12.1% annually over the last three years and has raised its dividend every year for the last 3 years. Premier Financial has a dividend payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Premier Financial to earn $2.31 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 53.7%.

Premier Financial Stock Down 2.0 %

Shares of NASDAQ PFC traded down $0.41 during trading hours on Thursday, hitting $19.97. 8,271 shares of the stock were exchanged, compared to its average volume of 134,986. The firm has a fifty day moving average price of $19.75 and a 200-day moving average price of $20.40. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.37. Premier Financial has a 12 month low of $13.60 and a 12 month high of $24.87. The company has a market cap of $714.93 million, a PE ratio of 6.43 and a beta of 1.27.

Premier Financial (NASDAQ:PFC) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Premier Financial had a net margin of 23.67% and a return on equity of 9.19%. The business had revenue of $108.84 million during the quarter, compared to the consensus estimate of $63.93 million. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, sell-side analysts expect that Premier Financial will post 2.13 EPS for the current year.

Insider Buying and Selling at Premier Financial

In other Premier Financial news, Director Donald P. Hileman sold 1,500 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $20.07, for a total transaction of $30,105.00. Following the transaction, the director now owns 31,311 shares of the company’s stock, valued at $628,411.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on PFC. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $23.00 price objective (down from $25.00) on shares of Premier Financial in a research report on Thursday. Piper Sandler upped their price objective on shares of Premier Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Hovde Group raised shares of Premier Financial from a “market perform” rating to an “outperform” rating and set a $22.50 target price for the company in a research note on Monday, April 1st.

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.