Premier Financial (NASDAQ:PFC) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Premier Financial (NASDAQ:PFC) issued its quarterly earnings data on Tuesday. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02, Zacks reports. The business had revenue of $108.84 million for the quarter, compared to analysts’ expectations of $63.93 million. Premier Financial had a return on equity of 9.76% and a net margin of 24.39%. During the same period in the prior year, the firm earned $0.63 EPS.

Premier Financial Stock Down 2.9 %

Shares of PFC traded down $0.60 during midday trading on Wednesday, reaching $19.99. 17,823 shares of the stock were exchanged, compared to its average volume of 135,292. Premier Financial has a 52 week low of $13.60 and a 52 week high of $24.87. The company’s 50 day moving average is $19.74 and its two-hundred day moving average is $20.40. The company has a market capitalization of $715.64 million, a P/E ratio of 6.52 and a beta of 1.27. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.37.

Insider Activity at Premier Financial

In related news, Director Donald P. Hileman sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.07, for a total transaction of $30,105.00. Following the sale, the director now owns 31,311 shares of the company’s stock, valued at $628,411.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PFC has been the topic of several recent research reports. Piper Sandler initiated coverage on Premier Financial in a report on Friday, February 23rd. They set a “neutral” rating and a $21.00 price target on the stock. Keefe, Bruyette & Woods reduced their target price on Premier Financial from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Finally, Hovde Group raised Premier Financial from a “market perform” rating to an “outperform” rating and set a $22.50 price target on the stock in a research report on Monday, April 1st.

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.