Primis Financial (NASDAQ:FRST) Announces Quarterly Earnings Results

Primis Financial (NASDAQ:FRST) released its quarterly earnings results on Tuesday. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.76), Zacks reports. Primis Financial had a net margin of 6.00% and a return on equity of 3.28%.

Primis Financial Stock Performance

Primis Financial stock opened at $10.60 on Thursday. The stock has a market cap of $262.03 million, a P/E ratio of 11.87 and a beta of 0.79. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 0.99. Primis Financial has a fifty-two week low of $9.52 and a fifty-two week high of $13.69. The firm’s fifty day moving average price is $11.78 and its 200-day moving average price is $11.88.

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Wednesday, February 12th.

Insiders Place Their Bets

In other news, Director F L. Garrett III bought 3,660 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $12.32 per share, for a total transaction of $45,091.20. Following 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens reduced their target price on Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a research report 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.