Primis Financial Corp. Declares Quarterly Dividend of $0.10 (NASDAQ:FRST)

Primis Financial Corp. (NASDAQ:FRST) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Shareholders of record on Wednesday, February 12th will be paid a dividend of 0.10 per share on Wednesday, February 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Wednesday, February 12th.

Primis Financial has a dividend payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Primis Financial to earn $1.75 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 22.9%.

Primis Financial Stock Down 0.1 %

Shares of NASDAQ:FRST opened at $11.14 on Monday. The company has a market cap of $275.38 million, a price-to-earnings ratio of 11.86 and a beta of 0.78. Primis Financial has a 12 month low of $9.52 and a 12 month high of $13.52. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $11.57 and a 200 day moving average price of $11.81.

Primis Financial (NASDAQ:FRST) last released its earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.76). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.95%. As a group, equities research analysts predict that Primis Financial will post 1.4 earnings per share for the current year.

Insider Activity at Primis Financial

In related news, Director F L. Garrett III acquired 3,660 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $12.32 per share, for a total transaction of $45,091.20. Following the acquisition, the director now directly owns 41,169 shares of the company’s stock, valued at $507,202.08. This represents a 9.76 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders acquired a total of 5,685 shares of company stock worth $67,449 in the last quarter. 10.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stephens dropped their price target on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company 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.