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

Primis Financial Corp. (NASDAQ:FRST) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 7th will be given a dividend of 0.10 per share on Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 7th.

Primis Financial has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of FRST stock opened at $15.69 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $15.32 and a 200 day moving average price of $14.24. The company has a market cap of $390.37 million, a P/E ratio of 7.40 and a beta of 0.72. Primis Financial has a 12 month low of $9.55 and a 12 month high of $16.77.

Primis Financial (NASDAQ:FRST) last posted its earnings results on Thursday, July 23rd. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.15). Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. The business had revenue of $55.79 million during the quarter, compared to analysts’ expectations of $48.77 million. Sell-side analysts predict that Primis Financial will post 1.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings raised Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods initiated coverage on Primis Financial in a research report on Monday, April 20th. They set an “outperform” rating and a $17.00 target price on the stock. Wall Street Zen cut Primis Financial from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Raymond James Financial initiated coverage on Primis Financial in a report on Thursday, June 25th. They issued a “strong-buy” rating and a $19.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.00.

About Primis Financial

Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.

Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.