Premier Financial (NASDAQ:PFC) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Premier Financial (NASDAQ:PFC) announced its earnings results on Friday. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.06), Zacks reports. The company had revenue of $110.55 million for the quarter, compared to analysts’ expectations of $63.20 million. Premier Financial had a net margin of 18.07% and a return on equity of 8.23%. During the same quarter in the previous year, the business posted $0.68 earnings per share.

Premier Financial Price Performance

Shares of PFC opened at $26.19 on Monday. The firm has a market cap of $937.86 million, a price-to-earnings ratio of 8.45 and a beta of 1.28. The stock has a 50 day moving average of $20.80 and a 200-day moving average of $20.53. 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 52 week low of $15.79 and a 52 week high of $26.19.

Premier Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 9th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.24 annualized dividend and a dividend yield of 4.73%. Premier Financial’s payout ratio is 40.00%.

Insider Transactions at Premier Financial

In other news, Director Donald P. Hileman sold 1,500 shares of Premier Financial stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $21.19, for a total value of $31,785.00. Following the completion of the transaction, the director now owns 29,811 shares in the company, valued at approximately $631,695.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.22% of the company’s stock.

Analyst Upgrades and Downgrades

PFC has been the topic of several analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $23.00 price objective (down from $25.00) on shares of Premier Financial in a report on Thursday, April 25th. Hovde Group upgraded Premier Financial from a “market perform” rating to an “outperform” rating and set a $22.50 price objective on the stock 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 stock a “neutral” rating in a report on Thursday, April 25th.

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.