Primis Financial (NASDAQ:FRST) Posts Earnings Results, Misses Expectations By $0.76 EPS

Primis Financial (NASDAQ:FRST) issued its quarterly earnings data on Tuesday. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.76), Zacks reports. Primis Financial had a return on equity of 3.28% and a net margin of 6.00%.

Primis Financial Stock Down 1.4 %

Shares of Primis Financial stock traded down $0.16 on Tuesday, hitting $11.43. The company had a trading volume of 65,223 shares, compared to its average volume of 52,495. The stock has a 50-day moving average of $11.83 and a 200-day moving average of $11.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.86. Primis Financial has a twelve month low of $9.52 and a twelve month high of $13.69. The firm has a market capitalization of $282.55 million, a P/E ratio of 11.87 and a beta of 0.79.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director F L. Garrett III acquired 3,660 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $12.32 per share, for a total transaction of $45,091.20. Following the completion of the acquisition, the director now owns 41,169 shares in the company, valued at $507,202.08. This represents a 9.76 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.89% of the stock is currently owned by company insiders.

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.