Premier Financial (NASDAQ:PFC) Posts Earnings Results, Beats Expectations By $0.04 EPS

Premier Financial (NASDAQ:PFCGet Rating) released its quarterly earnings data on Tuesday. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.04, MarketWatch Earnings reports. Premier Financial had a net margin of 38.96% and a return on equity of 12.35%. During the same period in the previous year, the company posted $1.10 earnings per share.

Shares of Premier Financial stock traded down $0.07 during trading hours on Wednesday, reaching $27.69. 3,706 shares of the company’s stock were exchanged, compared to its average volume of 169,023. The company has a 50 day moving average of $30.17 and a two-hundred day moving average of $30.77. Premier Financial has a fifty-two week low of $25.80 and a fifty-two week high of $34.00. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.08. The stock has a market cap of $991.77 million, a P/E ratio of 8.19 and a beta of 1.32.

The business also recently announced a quarterly dividend, which was paid on Friday, February 18th. Investors of record on Friday, February 11th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 10th. This is a positive change from Premier Financial’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 4.33%. Premier Financial’s dividend payout ratio is presently 35.40%.

In other Premier Financial news, Director Richard J. Schiraldi sold 26,700 shares of the stock in a transaction dated Friday, February 11th. The shares were sold at an average price of $30.80, for a total value of $822,360.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Donald P. Hileman sold 1,000 shares of the stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $30.56, for a total transaction of $30,560.00. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in PFC. Sei Investments Co. increased its holdings in shares of Premier Financial by 22.3% during the fourth quarter. Sei Investments Co. now owns 86,431 shares of the company’s stock worth $2,671,000 after purchasing an additional 15,744 shares during the period. California State Teachers Retirement System boosted its position in shares of Premier Financial by 1.8% during the 4th quarter. California State Teachers Retirement System now owns 51,529 shares of the company’s stock worth $1,593,000 after acquiring an additional 928 shares in the last quarter. Invesco Ltd. boosted its position in shares of Premier Financial by 8.4% during the 3rd quarter. Invesco Ltd. now owns 44,798 shares of the company’s stock worth $1,426,000 after acquiring an additional 3,480 shares in the last quarter. Morgan Stanley boosted its position in shares of Premier Financial by 982.8% during the 2nd quarter. Morgan Stanley now owns 49,667 shares of the company’s stock worth $1,410,000 after acquiring an additional 45,080 shares in the last quarter. Finally, Credit Suisse AG boosted its position in shares of Premier Financial by 7.3% during the 4th quarter. Credit Suisse AG now owns 41,048 shares of the company’s stock worth $1,268,000 after acquiring an additional 2,795 shares in the last quarter. 68.54% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Premier Financial from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Wednesday. Janney Montgomery Scott upgraded shares of Premier Financial from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 23rd. Finally, Piper Sandler cut shares of Premier Financial from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $35.00 to $34.00 in a research report on Wednesday, January 12th. They noted that the move was a valuation call.

Premier Financial Company Profile (Get Rating)

Premier Financial Corp., through its subsidiaries, provides various banking services. It offers various 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, and consumer loans.

Further Reading

Earnings History for Premier Financial (NASDAQ:PFC)

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