Brokerages expect Premier Financial Corp. (NASDAQ: PFC) Posts Quarterly Sales Of $ 74.20 Million
Wall Street brokerage firms predict Premier Financial Corp. (NASDAQ: PFC) will post sales of $ 74.20 million for the current quarter, Zacks reports. Three analysts provided earnings estimates for Premier Financial, with the lowest sales estimate at $ 72.90 million and the highest estimate at $ 76.00 million. Premier Financial reported sales of $ 78.27 million in the same quarter last year, indicating a negative growth rate of 5.2% year-over-year. The company is expected to release its next results after the market closes on Tuesday, October 19.
Zacks says analysts expect Premier Financial to report annual revenue of $ 303.20 million for the current fiscal year, with estimates ranging from $ 299.50 million to $ 308.00 million of dollars. For the next fiscal year, analysts expect the company to report revenue of $ 300.83 million, with estimates ranging from $ 295.00 million to $ 307.00 million. Zacks’ sales calculations are an average based on a survey of seller-side analysts who provide coverage to Premier Financial.
Premier Financial (NASDAQ: PFC) last released its quarterly earnings data on Thursday, July 29. The company reported EPS of $ 0.84 for the quarter, beating the consensus estimate of $ 0.79 of $ 0.05 by the Zacks. The company posted revenue of $ 74.16 million in the quarter, compared to a consensus estimate of $ 76.30 million. Premier Financial posted a return on equity of 13.47% and a net margin of 38.97%.
PFC has been the subject of several recent research reports. Raymond James raised his price target on Premier Financial shares from $ 32.00 to $ 35 and gave the company an “outperformance” rating in a research report on Thursday, August 26. Zacks Investment Research upgraded Premier Financial from a “hold” rating to a “buy” rating and set a target price of $ 36.00 on the stock in a report released Thursday.
A number of institutional investors have recently increased or reduced their holdings in PFC. ProShare Advisors LLC increased its position in Premier Financial by 3,469.8% in the second quarter. ProShare Advisors LLC now owns 353,269 shares of the company valued at $ 10,036,000 after purchasing an additional 343,373 shares during the period. Amundi took a new equity stake in Premier Financial in the second quarter for $ 9,308,000. NFJ Investment Group LLC acquired a new equity stake in Premier Financial in the first quarter valued at $ 9,682,000. Monarch Partners Asset Management LLC purchased a new position in Premier Financial during the first quarter valued at approximately $ 6,139,000. Finally, Prudential Financial Inc. increased its stake in Premier Financial by 84.1% during the first quarter. Prudential Financial Inc. now owns 238,166 shares of the company valued at $ 7,921,000 after purchasing an additional 108,770 shares in the last quarter. 65.77% of the shares are currently held by hedge funds and other institutional investors.
Premier Financial stock opened at $ 32.36 on Friday. The company has a leverage ratio of 0.18, a quick ratio of 0.86, and a current ratio of 0.90. Premier Financial has a one-year minimum of $ 15.43 and a one-year maximum of $ 35.90. The company has a 50-day simple moving average of $ 29.52 and a 200-day simple moving average of $ 30.20. The company has a market cap of $ 1.20 billion, a P / E ratio of 9.38 and a beta of 1.53.
The company also recently declared a quarterly dividend, which was paid on Friday, August 27. Shareholders of record on Friday August 20 received a dividend of $ 0.27 per share. This represents a dividend of $ 1.08 on an annualized basis and a dividend yield of 3.34%. This is a positive change from Premier Financial’s previous quarterly dividend of $ 0.26. The ex-dividend date of this dividend was Thursday, August 19. Premier Financial’s dividend payout ratio (DPR) is 39.13%.
Premier Financial Company Profile
Premier Financial Corp. is a holding company, which engages in the provision of banking activities. It focuses on traditional banking products and P&C, life and group health insurance products. It offers family, multi-family residential and non-residential, consumer, commercial, construction, home equity and home improvement real estate loans.
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