Premier Financial (NASDAQ:PFC) Upgraded to Outperform by Hovde Group

Hovde Group upgraded shares of Premier Financial (NASDAQ:PFC - Free Report) from a market perform rating to an outperform rating in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has $22.50 target price on the stock.

A number of other research firms have also recently weighed in on PFC. TheStreet upgraded Premier Financial from a c+ rating to a b- rating in a report on Wednesday, December 13th. Piper Sandler began coverage on Premier Financial in a research report on Friday, February 23rd. They set a neutral rating and a $21.00 price target for the company. Finally, Keefe, Bruyette & Woods dropped their price target on Premier Financial from $26.00 to $25.00 and set a market perform rating for the company in a research report on Thursday, January 25th.

Premier Financial Stock Performance

PFC traded down $0.18 on Monday, hitting $20.12. 186,987 shares of the company traded hands, compared to its average volume of 139,984. The company has a 50 day moving average of $20.19 and a 200-day moving average of $20.11. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $720.30 million, a PE ratio of 6.47 and a beta of 1.27. Premier Financial has a 12-month low of $13.60 and a 12-month high of $24.87.

Premier Financial (NASDAQ:PFC - Get Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.02). The business had revenue of $64.34 million for the quarter, compared to analysts' expectations of $66.15 million. Premier Financial had a return on equity of 9.76% and a net margin of 24.39%. Sell-side analysts anticipate that Premier Financial will post 2.13 earnings per share for the current year.

Premier Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date was Thursday, February 8th. Premier Financial's dividend payout ratio is currently 39.87%.

Insider Activity

In related 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 value 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.22% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PFC. Citigroup Inc. lifted its stake in shares of Premier Financial by 14.3% in the first quarter. Citigroup Inc. now owns 17,666 shares of the company's stock worth $536,000 after acquiring an additional 2,213 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Premier Financial by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 21,517 shares of the company's stock valued at $653,000 after buying an additional 1,892 shares during the last quarter. D.A. Davidson & CO. bought a new stake in Premier Financial in the first quarter valued at about $316,000. MetLife Investment Management LLC increased its holdings in Premier Financial by 54.4% in the first quarter. MetLife Investment Management LLC now owns 18,425 shares of the company's stock valued at $559,000 after buying an additional 6,493 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Premier Financial by 0.8% in the first quarter. BlackRock Inc. now owns 3,936,296 shares of the company's stock valued at $119,390,000 after buying an additional 32,779 shares during the last quarter. 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.