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

Primis Financial Corp. (NASDAQ:FRST) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Wednesday, February 12th.

Primis Financial has a payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Primis Financial to earn $1.75 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 22.9%.

Primis Financial Stock Down 0.1 %

Shares of NASDAQ:FRST opened at $11.14 on Monday. The stock has a market capitalization of $275.38 million, a P/E ratio of 11.86 and a beta of 0.78. The stock’s 50-day moving average price is $11.57 and its 200-day moving average price is $11.81. 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 12-month low of $9.52 and a 12-month high of $13.52.

Primis Financial (NASDAQ:FRST) last issued its earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.76). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.95%. On average, equities analysts anticipate that Primis Financial will post 1.4 earnings per share for the current year.

Insider Transactions at Primis Financial

In related news, Director F L. Garrett III purchased 3,660 shares of Primis Financial stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $12.32 per share, for a total transaction of $45,091.20. Following the completion of the transaction, the director now directly owns 41,169 shares of the company’s stock, valued at $507,202.08. This represents a 9.76 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 5,685 shares of company stock worth $67,449. Company insiders own 10.89% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens decreased their target price 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.