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

Primis Financial (NASDAQ:FRST) issued its quarterly earnings results on Tuesday. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates 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 Trading Down 7.3 %

NASDAQ:FRST opened at $10.60 on Thursday. The firm’s 50 day moving average is $11.78 and its 200 day moving average is $11.88. Primis Financial has a 12 month low of $9.52 and a 12 month high of $13.69. The stock has a market capitalization of $262.03 million, a PE ratio of 11.87 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24.

Primis Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 3.77%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Primis Financial

In other Primis Financial news, Director F L. Garrett III bought 3,660 shares of the business’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $12.32 per share, for a total transaction of $45,091.20. Following the completion of the transaction, the director now directly owns 41,169 shares of the company’s stock, valued at $507,202.08. This trade represents a 9.76 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.89% of the stock is owned by corporate insiders.

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.