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

Premier Financial Corp. (NASDAQ:PFC - Get Free Report) 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 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend is Thursday, May 2nd.

Premier Financial has increased its dividend by an average of 12.1% per year over the last three years and has increased its dividend every year for the last 3 years. Premier Financial has a payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

PFC stock traded down $0.30 during midday trading on Thursday, hitting $20.08. The stock had a trading volume of 223,926 shares, compared to its average volume of 137,715. The firm has a market capitalization of $718.86 million, a price-to-earnings ratio of 6.48 and a beta of 1.27. Premier Financial has a 52 week low of $13.60 and a 52 week high of $24.87. The stock has a 50-day simple moving average of $19.73 and a 200 day simple moving average of $20.40. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.37.

Premier Financial (NASDAQ:PFC - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The company reported $0.50 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 analysts' expectations of $63.93 million. Premier Financial had a return on equity of 9.19% and a net margin of 23.67%. During the same period last year, the business earned $0.63 earnings per share. As a group, equities research analysts anticipate that Premier Financial will post 2.13 earnings per share 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 Premier Financial 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 completion of the transaction, the director now directly owns 31,311 shares of the company's stock, valued at $628,411.77. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.22% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PFC shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $23.00 target price (down from $25.00) on shares of Premier Financial in a research report on Thursday. Hovde Group raised Premier Financial from a "market perform" rating to an "outperform" rating and set a $22.50 price objective for the company in a report on Monday, April 1st. Finally, Piper Sandler lifted their price objective on Premier Financial from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday.

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.