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

Premier Financial Corp. (NASDAQ:PFC - Get Free Report) declared 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 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date is Friday, November 8th.

Premier Financial has raised its dividend by an average of 12.1% annually over the last three years and has raised its dividend every year for the last 13 years. Premier Financial has a dividend payout ratio of 57.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Premier Financial to earn $2.17 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 57.1%.

Premier Financial Trading Down 1.5 %

NASDAQ PFC traded down $0.37 during mid-day trading on Thursday, reaching $23.98. 136,206 shares of the stock were exchanged, compared to its average volume of 155,215. Premier Financial has a one year low of $15.79 and a one year high of $26.40. The stock has a 50 day simple moving average of $24.03 and a 200-day simple moving average of $22.09. The stock has a market cap of $858.80 million, a P/E ratio of 7.84 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.95.

Premier Financial (NASDAQ:PFC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). Premier Financial had a net margin of 18.07% and a return on equity of 8.19%. The company had revenue of $112.74 million during the quarter, compared to the consensus estimate of $64.55 million. During the same period last year, the firm posted $0.69 earnings per share. On average, analysts anticipate that Premier Financial will post 1.98 EPS for the current year.

Insider Activity

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

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott reaffirmed a "neutral" rating on shares of Premier Financial in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Premier Financial has an average rating of "Hold" and a consensus price target of $22.50.

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.