Premier Financial (NASDAQ:PFC) Price Target Raised to $22.00 at Piper Sandler

Premier Financial (NASDAQ:PFC) had its price target upped by Piper Sandler from $21.00 to $22.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods cut their target price on Premier Financial from $26.00 to $25.00 and set a market perform rating on the stock in a research note on Thursday, January 25th. Hovde Group upgraded Premier Financial from a market perform rating to an outperform rating and set a $22.50 target price on the stock in a research note on Monday, April 1st.

Premier Financial Price Performance

PFC opened at $19.75 on Thursday. The business’s 50-day moving average is $19.71 and its two-hundred day moving average is $20.46. Premier Financial has a 1 year low of $13.60 and a 1 year high of $24.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.97 and a quick ratio of 0.95. The firm has a market capitalization of $707.05 million, a PE ratio of 6.37 and a beta of 1.27.

Premier Financial (NASDAQ:PFC) last posted its earnings results on Tuesday, April 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Premier Financial had a return on equity of 9.19% and a net margin of 23.67%. The company had revenue of $108.84 million for the quarter, compared to analyst estimates of $63.93 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Research analysts anticipate that Premier Financial will post 2.18 earnings per share for the current fiscal year.

Premier Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, May 3rd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.28%. The ex-dividend date is Thursday, May 2nd. Premier Financial’s dividend payout ratio is presently 40.00%.

Insiders Place Their Bets

In related news, Director Donald P. Hileman sold 1,500 shares of Premier Financial stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.07, for a total transaction of $30,105.00. Following the completion of the sale, 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 available at the SEC website. Corporate insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Premier Financial

A number of institutional investors and hedge funds have recently modified their holdings of PFC. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Premier Financial by 6.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,335 shares of the company’s stock worth $330,000 after purchasing an additional 1,126 shares during the period. Teacher Retirement System of Texas raised its position in Premier Financial by 13.4% during the third quarter. Teacher Retirement System of Texas now owns 57,725 shares of the company’s stock valued at $985,000 after acquiring an additional 6,838 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Premier Financial during the third quarter valued at approximately $215,000. Assenagon Asset Management S.A. raised its position in Premier Financial by 251.0% during the third quarter. Assenagon Asset Management S.A. now owns 113,906 shares of the company’s stock valued at $1,943,000 after acquiring an additional 81,457 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Premier Financial during the third quarter valued at approximately $452,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

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.