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

Primis Financial Corp. (NASDAQ:FRST) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Friday, August 7th will be given a dividend of 0.10 per share on Friday, August 21st. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, August 7th.

Primis Financial has a payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Primis Financial to earn $1.85 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 21.6%.

Primis Financial Price Performance

Shares of NASDAQ FRST opened at $15.69 on Friday. The firm has a market capitalization of $390.37 million, a P/E ratio of 7.40 and a beta of 0.72. The firm’s 50-day moving average price is $15.32 and its 200-day moving average price is $14.24. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Primis Financial has a 1-year low of $9.55 and a 1-year high of $16.77.

Primis Financial (NASDAQ:FRST) last issued its earnings results on Thursday, July 23rd. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.15). Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. The firm had revenue of $55.79 million during the quarter, compared to analyst estimates of $48.77 million. Equities research analysts anticipate that Primis Financial will post 1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Primis Financial by 12.6% in the 1st quarter. Royal Bank of Canada now owns 24,875 shares of the company’s stock valued at $243,000 after buying an additional 2,790 shares in the last quarter. AQR Capital Management LLC grew its holdings in Primis Financial by 25.5% during the 1st quarter. AQR Capital Management LLC now owns 23,904 shares of the company’s stock valued at $234,000 after buying an additional 4,864 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Primis Financial by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,072 shares of the company’s stock valued at $128,000 after buying an additional 1,370 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Primis Financial by 170.4% during the first quarter. Goldman Sachs Group Inc. now owns 248,639 shares of the company’s stock valued at $2,429,000 after buying an additional 156,703 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Primis Financial by 65.3% during the first quarter. Empowered Funds LLC now owns 26,621 shares of the company’s stock valued at $260,000 after buying an additional 10,515 shares during the period. Institutional investors own 74.96% of the company’s stock.

About Primis Financial

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.