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

Primis Financial Corp. (NASDAQ:FRST) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.10 per share on Friday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, November 8th.

Primis Financial has a dividend payout ratio of 36.4% indicating that 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 Stock Up 13.9 %

FRST opened at $12.78 on Thursday. Primis Financial has a fifty-two week low of $9.41 and a fifty-two week high of $13.69. The company has a market capitalization of $315.92 million, a P/E ratio of 11.83 and a beta of 0.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.98. The firm’s fifty day moving average price is $11.78 and its two-hundred day moving average price is $11.26.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The company had revenue of $66.40 million for the quarter. Primis Financial had a net margin of 7.31% and a return on equity of 4.63%. During the same quarter last year, the firm earned $0.32 earnings per share. On average, analysts anticipate that Primis Financial will post 1.65 EPS for the current year.

Wall Street Analysts Forecast Growth

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