Premier Financial Corp. to Issue Quarterly Dividend of $0.31 (NASDAQ:PFC)

Premier Financial Corp. (NASDAQ:PFC) announced a quarterly dividend on Friday, July 26th, Zacks reports. Investors of record on Friday, August 9th will be paid a dividend of 0.31 per share on Friday, August 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Friday, August 9th.

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 13 years. Premier Financial has a dividend payout ratio of 55.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Premier Financial to earn $2.16 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 57.4%.

Premier Financial Trading Up 2.8 %

NASDAQ:PFC opened at $26.19 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Premier Financial has a 1-year low of $15.79 and a 1-year high of $26.19. The firm has a market capitalization of $937.86 million, a price-to-earnings ratio of 8.45 and a beta of 1.28. The business’s 50-day moving average price is $20.80 and its two-hundred day moving average price is $20.57.

Premier Financial (NASDAQ:PFC) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Premier Financial had a return on equity of 9.12% and a net margin of 23.67%. The company had revenue of $108.84 million during the quarter, compared to analysts’ expectations of $63.93 million. During the same period in the prior year, the business posted $0.63 EPS. On average, equities analysts expect that Premier Financial will post 2.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PFC shares. Piper Sandler upped their target price on shares of Premier Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $23.00 price target (down previously from $25.00) on shares of Premier Financial in a report on Thursday, April 25th. Finally, Hovde Group raised Premier Financial from a “market perform” rating to an “outperform” rating and set a $22.50 price objective on the stock in a research note on Monday, April 1st.

Insider Activity at Premier Financial

In other Premier Financial news, Director Donald P. Hileman sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $21.19, for a total transaction of $31,785.00. Following the sale, the director now directly owns 29,811 shares in the company, valued at approximately $631,695.09. The sale 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.

About Premier Financial

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.