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

Primis Financial Corp. (NASDAQ:FRST) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Friday, May 10th will be paid a dividend of 0.10 per share on Friday, May 24th. This represents a $0.40 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Thursday, May 9th.

Primis Financial has a dividend payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Primis Financial to earn $1.79 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 22.3%.

Primis Financial Trading Down 4.9 %

Shares of NASDAQ FRST traded down $0.52 during trading on Friday, reaching $10.17. The company had a trading volume of 72,029 shares, compared to its average volume of 55,758. The company’s fifty day moving average price is $11.67 and its 200-day moving average price is $11.22. Primis Financial has a 12 month low of $7.01 and a 12 month high of $13.69. The stock has a market cap of $251.02 million, a P/E ratio of 11.83 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. Primis Financial had a return on equity of 5.90% and a net margin of 8.73%. The firm had revenue of $39.24 million for the quarter, compared to analyst estimates of $36.17 million. As a group, research analysts expect that Primis Financial will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Primis Financial

In other Primis Financial news, Director Charles A. Kabbash bought 3,390 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average price of $12.51 per share, for a total transaction of $42,408.90. Following the transaction, the director now directly owns 76,183 shares in the company, valued at $953,049.33. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have purchased 7,500 shares of company stock worth $91,631. Insiders own 11.08% of the company’s stock.

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.