Primis Financial Corp. (FRST) to Issue Quarterly Dividend of $0.10 on November 22nd

Primis Financial Corp. (NASDAQ:FRST) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.10 per share on Friday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, November 8th.

Primis Financial has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Primis Financial to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 21.6%.

Primis Financial Stock Up 0.9 %

NASDAQ:FRST opened at $11.22 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.98. The firm’s 50-day moving average price is $11.79 and its 200-day moving average price is $11.25. The company has a market capitalization of $277.36 million, a PE ratio of 11.83 and a beta of 0.75. Primis Financial has a 1-year low of $9.41 and a 1-year high of $13.69.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). Primis Financial had a return on equity of 4.63% and a net margin of 7.31%. The business had revenue of $66.40 million during the quarter. During the same quarter in the previous year, the business posted $0.32 EPS. On average, equities analysts predict that Primis Financial will post 1.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Stephens cut their target price on Primis Financial from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th.

Primis Financial Company Profile

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits.