Premier Financial Corp. Announces Quarterly Dividend of $0.31 (NASDAQ:PFC)

Premier Financial Corp. (NASDAQ:PFC) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors of record on Friday, November 8th will be paid a dividend of 0.31 per share on Friday, November 15th. This represents a $1.24 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Friday, November 8th.

Premier Financial has increased its dividend by an average of 12.1% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Premier Financial has a payout ratio of 57.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Premier Financial to earn $2.15 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 57.7%.

Premier Financial Stock Performance

Shares of PFC opened at $24.94 on Wednesday. Premier Financial has a 12 month low of $18.12 and a 12 month high of $26.40. The business’s fifty day simple moving average is $24.06 and its two-hundred day simple moving average is $22.39. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49. The company has a market cap of $893.85 million, a price-to-earnings ratio of 12.66 and a beta of 1.25.

Premier Financial (NASDAQ:PFC) last posted its earnings results on Tuesday, October 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $112.74 million for the quarter, compared to the consensus estimate of $64.55 million. Premier Financial had a net margin of 16.06% and a return on equity of 7.51%. During the same quarter in the prior year, the company posted $0.69 EPS. Research analysts anticipate that Premier Financial will post 2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott restated a “neutral” rating on shares of Premier Financial in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.50.

Insiders Place Their Bets

In other news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $25.01, for a total value of $50,020.00. Following the transaction, the executive vice president now directly owns 38,114 shares in the company, valued at $953,231.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Dennis E. Rose, Jr. sold 2,000 shares of Premier Financial stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $25.01, for a total transaction of $50,020.00. Following the sale, the executive vice president now owns 38,114 shares in the company, valued at $953,231.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Donald P. Hileman sold 1,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction of $35,460.00. Following the transaction, the director now owns 28,311 shares of the company’s stock, valued at approximately $669,272.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.22% 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.