Primis Financial (FRST) to Release Quarterly Earnings on Thursday

Primis Financial (NASDAQ:FRST) is scheduled to announce its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.33 per share for the quarter.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.07. Primis Financial had a return on equity of 5.90% and a net margin of 8.73%. The firm had revenue of $39.24 million for the quarter, compared to analysts’ expectations of $36.17 million. On average, analysts expect Primis Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Primis Financial Stock Performance

Shares of FRST opened at $10.54 on Friday. The business’s fifty day moving average price is $11.88 and its 200 day moving average price is $11.10. Primis Financial has a 12-month low of $7.01 and a 12-month high of $13.69. The stock has a market capitalization of $260.13 million, a PE ratio of 12.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.97.

Primis Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.80%. The ex-dividend date was Thursday, February 8th. Primis Financial’s dividend payout ratio (DPR) is presently 46.51%.

Analyst Upgrades and Downgrades

Separately, TheStreet raised Primis Financial from a “c” rating to a “b” rating in a research report on Friday, January 26th.

Insiders Place Their Bets

In related news, Director Charles A. Kabbash bought 3,390 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were purchased at an average cost of $12.51 per share, with a total value of $42,408.90. Following the completion of the transaction, the director now directly owns 76,183 shares of the company’s stock, valued at $953,049.33. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 7,500 shares of company stock valued at $91,631 over the last three months. Company insiders own 11.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FRST. American Century Companies Inc. increased its holdings in shares of Primis Financial by 28.8% during the first quarter. American Century Companies Inc. now owns 89,684 shares of the company’s stock valued at $1,254,000 after purchasing an additional 20,032 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Primis Financial by 54.8% during the first quarter. MetLife Investment Management LLC now owns 13,159 shares of the company’s stock valued at $184,000 after purchasing an additional 4,656 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Primis Financial by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,029,525 shares of the company’s stock valued at $14,393,000 after purchasing an additional 26,515 shares during the period. Vanguard Group Inc. increased its holdings in shares of Primis Financial by 12.5% during the first quarter. Vanguard Group Inc. now owns 1,016,838 shares of the company’s stock valued at $14,215,000 after purchasing an additional 112,657 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Primis Financial by 9.8% during the first quarter. First Trust Advisors LP now owns 12,518 shares of the company’s stock valued at $175,000 after purchasing an additional 1,114 shares during the period. 74.96% of the stock is owned by institutional investors and hedge funds.

About Primis Financial

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.