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

Primis Financial Corp. (NASDAQ:FRST) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Friday, May 10th will be given a dividend of 0.10 per share on Friday, May 24th. This represents a $0.40 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 9th.

Primis Financial has a payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Primis Financial to earn $1.79 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 22.3%.

Primis Financial Stock Performance

NASDAQ FRST traded down $0.52 on Friday, hitting $10.17. 72,029 shares of the company traded hands, compared to its average volume of 55,758. The company has a market capitalization of $251.02 million, a price-to-earnings ratio of 11.83 and a beta of 0.73. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $11.67 and its 200-day moving average price is $11.22. Primis Financial has a 52-week low of $7.01 and a 52-week high of $13.69.

Primis Financial (NASDAQ:FRST) last released its earnings results on Thursday, January 25th. The company reported $0.35 earnings per share for the quarter, beating 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 company had revenue of $39.24 million for the quarter, compared to the consensus estimate of $36.17 million. Equities analysts expect that Primis Financial will post 1.57 earnings per share for the current year.

Insider Activity

In other news, Director Charles A. Kabbash bought 3,390 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average cost of $12.51 per share, for a total transaction of $42,408.90. Following the completion of the transaction, the director now owns 76,183 shares of the company’s stock, valued at $953,049.33. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 7,500 shares of company stock worth $91,631 over the last ninety days. Corporate insiders own 11.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.