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

Primis Financial Corp. (NASDAQ:FRST) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors of record on Wednesday, February 12th will be given a dividend of 0.10 per share on Wednesday, February 26th. This represents a $0.40 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, February 12th.

Primis Financial has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Research 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 %

Primis Financial stock traded down $0.83 during mid-day trading on Wednesday, hitting $10.60. 152,281 shares of the stock were exchanged, compared to its average volume of 57,052. The company has a quick ratio of 0.86, a current ratio of 0.99 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 $13.69. The firm’s fifty day simple moving average is $11.81 and its two-hundred day simple moving average is $11.89. The stock has a market capitalization of $262.03 million, a price-to-earnings ratio of 11.87 and a beta of 0.79.

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

Insider Buying and Selling at Primis Financial

In other news, Director F L. Garrett III acquired 3,660 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $12.32 per share, with a total value of $45,091.20. Following the acquisition, the director now directly owns 41,169 shares of the company’s stock, valued at $507,202.08. The trade was a 9.76 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Stephens lowered their price objective on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company 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.