Premier Financial (NASDAQ:PFC) Price Target Cut to $28.00 by Analysts at Piper Sandler

Premier Financial (NASDAQ:PFCGet Rating) had its target price reduced by Piper Sandler from $29.00 to $28.00 in a research note published on Monday morning, The Fly reports. Piper Sandler currently has a neutral rating on the stock.

Premier Financial Price Performance

Shares of PFC stock opened at $27.09 on Monday. The stock has a 50-day moving average price of $27.27 and a 200 day moving average price of $27.62. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.52. The firm has a market cap of $963.43 million, a price-to-earnings ratio of 9.64 and a beta of 1.28. Premier Financial has a 12 month low of $24.35 and a 12 month high of $34.00.

Premier Financial (NASDAQ:PFCGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.09). The firm had revenue of $73.46 million during the quarter, compared to analyst estimates of $74.97 million. Premier Financial had a return on equity of 10.50% and a net margin of 32.75%. During the same quarter in the previous year, the business earned $0.84 earnings per share. Research analysts expect that Premier Financial will post 2.97 EPS for the current year.

Premier Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, August 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Thursday, August 4th. Premier Financial’s dividend payout ratio (DPR) is currently 42.70%.

Hedge Funds Weigh In On Premier Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Premier Financial by 0.8% during the first quarter. BlackRock Inc. now owns 3,936,296 shares of the company’s stock worth $119,390,000 after buying an additional 32,779 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 purchasing an additional 24,792 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Premier Financial by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,911,114 shares of the company’s stock valued at $57,964,000 after purchasing an additional 11,103 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 purchasing an additional 4,233 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Premier Financial by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 1,226,216 shares of the company’s stock valued at $37,210,000 after purchasing an additional 26,662 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

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.

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