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

Primis Financial Corp. (NASDAQ:FRST) declared a quarterly dividend on Thursday, January 29th. Shareholders of record on Friday, February 13th will be paid a dividend of 0.10 per share on Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, February 13th.

Primis Financial has increased its dividend payment by an average of 0.0%annually over the last three years. Primis Financial has a payout ratio of 24.8% 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 Price Performance

Shares of FRST traded down $0.04 during mid-day trading on Friday, hitting $13.54. 12,610 shares of the company traded hands, compared to its average volume of 65,056. The stock has a market capitalization of $333.60 million, a price-to-earnings ratio of 96.21 and a beta of 0.77. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $12.86 and a 200 day moving average of $11.58. Primis Financial has a one year low of $7.59 and a one year high of $14.38.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.24). Primis Financial had a negative return on equity of 0.75% and a net margin of 1.31%.The business had revenue of $80.87 million for the quarter, compared to analyst estimates of $30.01 million. As a group, equities analysts expect that Primis Financial will post 1.4 earnings per share for the current fiscal year.

Primis Financial declared that its board has authorized a share repurchase plan on Thursday, December 18th that allows the company to repurchase $750,000.00 in shares. This repurchase authorization allows the company to reacquire up to 0.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Primis Financial Company Profile

Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.

Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.