Primis Financial Corp. (FRST) to Distribute Quarterly Dividend of $0.10 on August 21st

Primis Financial Corp. (NASDAQ:FRST) declared a quarterly dividend on Thursday, July 23rd. Investors of record on Friday, August 7th will be paid a dividend of 0.10 per share on Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 7th.

Primis Financial has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of FRST stock opened at $16.40 on Wednesday. The business has a fifty day moving average of $15.61 and a 200 day moving average of $14.39. Primis Financial has a 1 year low of $9.55 and a 1 year high of $16.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market capitalization of $408.03 million, a price-to-earnings ratio of 7.59 and a beta of 0.73.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.15). The business had revenue of $55.79 million during the quarter, compared to analyst estimates of $48.77 million. Primis Financial had a return on equity of 5.56% and a net margin of 19.19%. As a group, research analysts expect that Primis Financial will post 1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FRST shares. Keefe, Bruyette & Woods assumed coverage on Primis Financial in a research report on Monday, April 20th. They set an “outperform” rating and a $17.00 price objective on the stock. Wall Street Zen downgraded Primis Financial from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings raised Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial started coverage on Primis Financial in a research note on Thursday, June 25th. They issued a “strong-buy” rating and a $19.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $18.00.

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.