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

Primis Financial Corp. (NASDAQ:FRST) declared a quarterly dividend on Thursday, April 24th, Wall Street Journal reports. Investors of record on Wednesday, May 14th will be paid a dividend of 0.10 per share on Wednesday, May 28th. This represents a $0.40 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Wednesday, May 14th.

Primis Financial has a dividend payout ratio of 23.5% indicating that 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 Stock Performance

Shares of Primis Financial stock opened at $8.96 on Monday. The firm has a market capitalization of $221.52 million, a P/E ratio of -29.87 and a beta of 0.65. 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 company has a 50 day moving average price of $9.08 and a 200 day moving average price of $10.69. Primis Financial has a 52 week low of $7.59 and a 52 week high of $13.52.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.12). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.05%. The company had revenue of $32.53 million during the quarter, compared to analysts’ expectations of $26.90 million. Sell-side analysts expect that Primis Financial will post 1.4 EPS for the current year.

Insiders Place Their Bets

In other Primis Financial news, Director John Fitzgerald Biagas purchased 10,000 shares of Primis Financial stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $9.97 per share, with a total value of $99,700.00. Following the transaction, the director now owns 88,469 shares of the company’s stock, valued at $882,035.93. This represents a 12.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.89% of the stock is currently owned by insiders.

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.