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

Primis Financial Corp. (NASDAQ:FRST) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Wednesday, February 12th.

Primis Financial has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Primis Financial to earn $1.08 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 37.0%.

Primis Financial Trading Down 7.3 %

Shares of NASDAQ:FRST traded down $0.83 during trading on Wednesday, hitting $10.60. 152,281 shares of the company’s stock were exchanged, compared to its average volume of 57,052. The firm has a market cap of $262.03 million, a P/E ratio of 11.87 and a beta of 0.79. The firm has a 50-day moving average price of $11.81 and a two-hundred day moving average price of $11.89. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. Primis Financial has a 1-year low of $9.52 and a 1-year high of $13.69.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.76). Primis Financial had a net margin of 6.00% and a return on equity of 3.28%. Equities analysts predict that Primis Financial will post 0.5 earnings per share for the current year.

Insider Transactions at Primis Financial

In other news, Director F L. Garrett III purchased 3,660 shares of the business’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $12.32 per share, for a total transaction of $45,091.20. Following the completion of the purchase, the director now directly owns 41,169 shares in the company, valued at $507,202.08. The trade was a 9.76 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Stephens cut their price target on shares of 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.