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

Hovde Group upgraded shares of Premier Financial (NASDAQ:PFCFree Report) from a market perform rating to an outperform rating in a research note published on Monday morning, reports. Hovde Group currently has $22.50 price objective on the stock.

Several other equities analysts have also issued reports on the company. TheStreet raised Premier Financial from a c+ rating to a b- rating in a research report on Wednesday, December 13th. Keefe, Bruyette & Woods reduced their price objective on Premier Financial from $26.00 to $25.00 and set a market perform rating for the company in a report on Thursday, January 25th. Finally, Piper Sandler initiated coverage on Premier Financial in a report on Friday, February 23rd. They issued a neutral rating and a $21.00 price objective for the company.

View Our Latest Analysis on PFC

Premier Financial Stock Performance

Shares of Premier Financial stock opened at $20.30 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $726.74 million, a P/E ratio of 6.53 and a beta of 1.27. The business has a fifty day simple moving average of $20.26 and a two-hundred day simple moving average of $20.10. Premier Financial has a 12 month low of $13.60 and a 12 month high of $24.87.

Premier Financial (NASDAQ:PFCGet Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.02). The firm had revenue of $64.34 million for the quarter, compared to analysts’ expectations of $66.15 million. Premier Financial had a net margin of 24.39% and a return on equity of 9.76%. On average, equities analysts forecast that Premier Financial will post 2.13 earnings per share for the current fiscal year.

Premier Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.11%. Premier Financial’s dividend payout ratio is currently 39.87%.

Insider Buying and Selling at Premier Financial

In other news, Director Donald P. Hileman sold 1,500 shares of Premier Financial 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 directly owns 31,311 shares of the company’s stock, valued at approximately $628,411.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.22% of the company’s stock.

Institutional Trading of Premier Financial

Several hedge funds have recently modified their holdings of PFC. BlackRock Inc. raised its holdings in Premier Financial by 6.3% during the 2nd quarter. BlackRock Inc. now owns 4,148,292 shares of the company’s stock valued at $66,456,000 after buying an additional 244,224 shares during the period. Dimensional Fund Advisors LP raised its holdings in Premier Financial by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,319,181 shares of the company’s stock valued at $70,341,000 after buying an additional 24,792 shares during the period. Vanguard Group Inc. raised its holdings in Premier Financial by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 1,973,151 shares of the company’s stock valued at $47,553,000 after buying an additional 42,193 shares during the period. Alliancebernstein L.P. raised its holdings in Premier Financial by 19.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,425,847 shares of the company’s stock valued at $38,455,000 after buying an additional 234,891 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Premier Financial by 0.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,380,678 shares of the company’s stock valued at $41,876,000 after buying an additional 4,233 shares during the period. 66.14% of the stock is owned by hedge funds and other institutional investors.

Premier Financial Company Profile

(Get Free Report)

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.

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