Premier Financial (NASDAQ:PFC) Price Target Raised to $22.00 at Piper Sandler

Premier Financial (NASDAQ:PFC) had its price objective boosted by Piper Sandler from $21.00 to $22.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

PFC has been the subject of a number of other research reports. Keefe, Bruyette & Woods lowered their price target on Premier Financial from $26.00 to $25.00 and set a market perform rating for the company in a research report on Thursday, January 25th. Hovde Group raised Premier Financial from a market perform rating to an outperform rating and set a $22.50 target price for the company in a research report on Monday, April 1st.

Premier Financial Price Performance

Shares of PFC traded down $0.10 during midday trading on Thursday, reaching $19.98. The stock had a trading volume of 27,712 shares, compared to its average volume of 136,341. The company’s 50-day moving average is $19.73 and its 200 day moving average is $20.40. Premier Financial has a 12-month low of $13.60 and a 12-month high of $24.87. 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 company has a market capitalization of $715.28 million, a price-to-earnings ratio of 6.48 and a beta of 1.27.

Premier Financial (NASDAQ:PFC) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Premier Financial had a return on equity of 9.19% and a net margin of 23.67%. The firm had revenue of $108.84 million during the quarter, compared to analysts’ expectations of $63.93 million. During the same period in the prior year, the business earned $0.63 EPS. On average, equities analysts predict that Premier Financial will post 2.13 EPS for the current fiscal year.

Premier Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, May 3rd will be issued a dividend of $0.31 per share. The ex-dividend date is Thursday, May 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 6.21%. Premier Financial’s dividend payout ratio is presently 40.00%.

Insider Buying and Selling at Premier Financial

In related 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 value of $30,105.00. Following the completion of the transaction, the director now owns 31,311 shares in the company, valued at $628,411.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in Premier Financial by 333.1% in the third quarter. AQR Capital Management LLC now owns 268,188 shares of the company’s stock worth $4,575,000 after buying an additional 206,258 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Premier Financial by 13.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,016,841 shares of the company’s stock worth $17,347,000 after purchasing an additional 124,126 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. grew its holdings in Premier Financial by 153.4% in the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 198,733 shares of the company’s stock worth $4,789,000 after purchasing an additional 120,299 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Premier Financial by 251.0% in the third quarter. Assenagon Asset Management S.A. now owns 113,906 shares of the company’s stock worth $1,943,000 after purchasing an additional 81,457 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Premier Financial in the third quarter worth $1,201,000. Hedge funds and other institutional investors own 66.14% 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.