Primis Financial (NASDAQ:FRST) Announces Quarterly Earnings Results

Primis Financial (NASDAQ:FRST - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.76), Zacks reports. Primis Financial had a negative return on equity of 2.95% and a negative net margin of 2.97%.

Primis Financial Price Performance

Shares of FRST traded down $0.11 during mid-day trading on Friday, hitting $11.07. 49,339 shares of the company traded hands, compared to its average volume of 58,693. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $273.63 million, a price-to-earnings ratio of 11.28 and a beta of 0.79. The business has a 50-day moving average of $11.75 and a 200 day moving average of $11.88. Primis Financial has a one year low of $9.52 and a one year high of $13.65.

Primis Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Wednesday, February 12th.

Insider Buying and Selling

In other news, Director F L. Garrett III acquired 3,660 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 41,169 shares in the company, valued at $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 at this hyperlink. 10.89% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Stephens reduced their price objective on Primis Financial from $16.00 to $14.00 and set an "overweight" rating on the stock 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.