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

Primis Financial Corp. (NASDAQ:FRST) declared a quarterly dividend on Thursday, January 29th. Investors of record on Friday, February 13th will be given a dividend of 0.10 per share on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, February 13th.

Primis Financial has raised its dividend payment by an average of 0.0%per year over the last three years. Primis Financial has a dividend payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Primis Financial to earn $1.75 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 22.9%.

Primis Financial Stock Down 0.4%

NASDAQ FRST traded down $0.06 during trading on Friday, reaching $13.52. The company’s stock had a trading volume of 11,714 shares, compared to its average volume of 64,914. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $333.16 million, a PE ratio of 96.71 and a beta of 0.77. The business has a 50-day moving average price of $12.86 and a 200-day moving average price of $11.58. Primis Financial has a 1-year low of $7.59 and a 1-year high of $14.38.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). Primis Financial had a net margin of 1.31% and a negative return on equity of 0.75%. The business had revenue of $80.87 million for the quarter, compared to the consensus estimate of $30.01 million. On average, research analysts forecast that Primis Financial will post 1.4 earnings per share for the current fiscal year.

Primis Financial announced that its Board of Directors has authorized a share repurchase program on Thursday, December 18th that authorizes the company to repurchase $750,000.00 in shares. This repurchase authorization authorizes the company to buy up to 0.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.