Primis Financial (FRST) to Release Quarterly Earnings on Thursday

Primis Financial (NASDAQ:FRST) is set to release its earnings data after the market closes on Thursday, April 25th. Analysts expect Primis Financial to post earnings of $0.33 per share for the quarter.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.07. The business had revenue of $39.24 million during the quarter, compared to analysts’ expectations of $36.17 million. Primis Financial had a return on equity of 5.90% and a net margin of 8.73%. 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 Trading Up 0.5 %

Shares of FRST stock opened at $10.54 on Friday. 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 stock has a market cap of $260.13 million, a P/E ratio of 12.26 and a beta of 0.73. The stock has a 50 day simple moving average of $11.88 and a 200 day simple moving average of $11.10. Primis Financial has a 1 year low of $7.01 and a 1 year high of $13.69.

Primis Financial Announces Dividend

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Primis Financial news, Director Charles A. Kabbash bought 3,390 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was purchased at an average cost of $12.51 per share, for a total transaction of $42,408.90. Following the completion of the purchase, the director now directly owns 76,183 shares of the company’s stock, valued at $953,049.33. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders acquired 7,500 shares of company stock worth $91,631 over the last three months. Insiders own 11.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Primis Financial by 34.1% in the 2nd quarter. BlackRock Inc. now owns 1,835,909 shares of the company’s stock valued at $15,458,000 after acquiring an additional 467,085 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Primis Financial by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,189,572 shares of the company’s stock valued at $11,456,000 after acquiring an additional 12,341 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Primis Financial by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 1,100,218 shares of the company’s stock valued at $13,929,000 after acquiring an additional 39,853 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Primis Financial by 26.0% in the second quarter. Alliancebernstein L.P. now owns 581,323 shares of the company’s stock valued at $4,895,000 after purchasing an additional 119,802 shares during the period. Finally, Kennedy Capital Management LLC increased its holdings in Primis Financial by 15.7% in the second quarter. Kennedy Capital Management LLC now owns 488,957 shares of the company’s stock valued at $4,117,000 after purchasing an additional 66,195 shares during the period. 74.96% of the stock is currently owned by institutional investors.

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.