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

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

Primis Financial has raised its dividend payment by an average of 0.0%annually over the last three years. Primis Financial has a dividend payout ratio of 24.8% 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 Price Performance

Shares of FRST stock traded down $0.06 during mid-day trading on Friday, hitting $13.52. 11,714 shares of the stock traded hands, compared to its average volume of 64,914. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.02. The firm has a market cap of $333.16 million, a price-to-earnings ratio of 96.71 and a beta of 0.77. The company’s 50-day simple moving average is $12.86 and its 200-day simple moving average is $11.58. Primis Financial has a twelve month low of $7.59 and a twelve month high of $14.38.

Primis Financial (NASDAQ:FRST) last announced its earnings results on Thursday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $80.87 million for the quarter, compared to the consensus estimate of $30.01 million. As a group, equities research analysts expect that Primis Financial will post 1.4 earnings per share for the current year.

Primis Financial declared that its board has authorized a stock buyback plan on Thursday, December 18th that allows the company to buyback $750,000.00 in shares. This buyback authorization allows the company to buy up to 0.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is 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.