Premier Financial Corp. (PFC) To Go Ex-Dividend on May 2nd

Premier Financial Corp. (NASDAQ:PFC) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Friday, May 3rd will be given a dividend of 0.31 per share on Friday, May 10th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date is Thursday, May 2nd.

Premier Financial has increased its dividend payment by an average of 12.1% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Premier Financial has a dividend payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Premier Financial to earn $2.35 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 52.8%.

Premier Financial Stock Down 1.1 %

PFC opened at $19.54 on Tuesday. The company has a market capitalization of $699.53 million, a P/E ratio of 6.30 and a beta of 1.27. 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’s fifty day moving average price is $19.70 and its two-hundred day moving average price is $20.48. Premier Financial has a fifty-two week low of $13.60 and a fifty-two week high of $24.87.

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

Insider Activity

In other Premier Financial news, Director Donald P. Hileman sold 1,500 shares of the firm’s 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 transaction, the director now owns 31,311 shares in the company, valued at $628,411.77. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PFC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $23.00 target price (down from $25.00) on shares of Premier Financial in a report on Thursday, April 25th. Piper Sandler increased their target price on Premier Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, Hovde Group upgraded 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.

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.