Primis Financial Corp. (FRST) To Go Ex-Dividend on February 12th

Primis Financial Corp. (NASDAQ:FRST) announced a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Investors of record on Wednesday, February 12th will be paid a dividend of 0.10 per share on Wednesday, February 26th. This represents a $0.40 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, February 12th.

Primis Financial has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ:FRST opened at $11.14 on Monday. The company has a 50-day moving average price of $11.57 and a two-hundred day moving average price of $11.81. Primis Financial has a twelve month low of $9.52 and a twelve month high of $13.52. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $275.38 million, a PE ratio of 11.86 and a beta of 0.78.

Primis Financial (NASDAQ:FRST) last issued its earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.76). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.95%. Equities analysts forecast that Primis Financial will post 1.4 EPS for the current year.

Insider Buying and Selling

In other news, Director F L. Garrett III purchased 3,660 shares of Primis Financial stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $12.32 per share, for a total transaction of $45,091.20. Following the transaction, the director now directly owns 41,169 shares of the company’s stock, valued at approximately $507,202.08. This trade represents a 9.76 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have bought 5,685 shares of company stock valued at $67,449. Company insiders own 10.89% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens reduced their target price on 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.