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

Primis Financial Corp. (NASDAQ:FRST) declared 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 yield of 3.13%. The ex-dividend date is Friday, November 8th.

Primis Financial has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Research 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 FRST stock opened at $12.78 on Thursday. The firm has a market cap of $315.92 million, a price-to-earnings ratio of 11.83 and a beta of 0.75. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.31. Primis Financial has a 12 month low of $9.41 and a 12 month high of $13.69. The stock has a 50-day moving average price of $11.78 and a 200 day moving average price of $11.26.

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

Analysts Set New Price Targets

Separately, Stephens decreased their price target on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

About Primis Financial

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.