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

Primis Financial Corp. (NASDAQ:FRST - Get Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.10 per share on Friday, May 24th. This represents a $0.40 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Thursday, May 9th.

Primis Financial has a dividend payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Primis Financial to earn $1.79 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 22.3%.

Primis Financial Price Performance

Shares of FRST traded down $0.52 during midday trading on Friday, hitting $10.17. 72,029 shares of the company traded hands, compared to its average volume of 55,758. The stock has a 50-day moving average of $11.67 and a 200-day moving average of $11.24. Primis Financial has a one year low of $7.01 and a one year high of $13.69. The firm has a market cap of $251.02 million, a P/E ratio of 11.83 and a beta of 0.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.97.

Primis Financial (NASDAQ:FRST - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.07. Primis Financial had a return on equity of 5.90% and a net margin of 8.73%. The firm had revenue of $39.24 million for the quarter, compared to analysts' expectations of $36.17 million. As a group, sell-side analysts predict that Primis Financial will post 1.57 EPS for the current fiscal year.

Insider Activity

In other Primis Financial news, Director Charles A. Kabbash bought 3,390 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The stock was bought at an average price of $12.51 per share, for a total transaction of $42,408.90. Following the completion of the acquisition, the director now directly owns 76,183 shares in the company, valued at $953,049.33. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders purchased 7,500 shares of company stock valued at $91,631. 11.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, TheStreet raised Primis Financial from a "c" rating to a "b" rating in a research note on Friday, January 26th.

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.