Primis Financial (NASDAQ:FRST) Announces 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 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 Trading Down 1.4 %

Shares of Primis Financial stock traded down $0.16 during trading hours on Tuesday, reaching $11.43. The stock had a trading volume of 65,215 shares, compared to its average volume of 52,495. 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 has a 1 year low of $9.52 and a 1 year high of $13.69. The firm has a market capitalization of $282.55 million, a price-to-earnings ratio of 11.87 and a beta of 0.79. The firm has a 50 day simple moving average of $11.83 and a two-hundred day simple moving average of $11.89.

Insider Buying and Selling

In related news, Director F L. Garrett III acquired 3,660 shares of the business’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $12.32 per share, with a total value 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.89% of the company’s stock.

Analysts Set New Price Targets

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

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.