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

Key Points

• Primis Financial Corp. announced a quarterly dividend of $0.10 per share, with shareholders of record on November 7th to be paid on November 21st, indicating a 4.1% yield.
• The company reported $0.28 earnings per share for the quarter, missing analysts' estimates, while its revenue significantly exceeded expectations at $41.05 million.
• Primis Financial has a payout ratio of 24.8%, suggesting its dividend is well-covered by earnings, with projections for a future payout ratio of 22.9%.

Primis Financial Corp. (NASDAQ:FRST - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Shareholders of record on Friday, November 7th will be paid a dividend of 0.10 per share on Friday, November 21st. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, November 7th.

Primis Financial has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 1.7%

Shares of FRST stock opened at $9.70 on Friday. Primis Financial has a 1 year low of $7.59 and a 1 year high of $12.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.95. The stock's 50 day simple moving average is $10.69 and its two-hundred day simple moving average is $10.21. The company has a market cap of $239.01 million, a PE ratio of -107.78 and a beta of 0.81.

Primis Financial (NASDAQ:FRST - Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). Primis Financial had a negative net margin of 0.93% and a negative return on equity of 2.02%. The company had revenue of $41.05 million for the quarter, compared to analysts' expectations of $27.96 million. Research analysts predict that Primis Financial will post 1.4 earnings per share for the current year.

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.

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