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

Primis Financial Corp. (NASDAQ:FRSTGet Rating) declared a quarterly dividend on Thursday, April 28th, Zacks reports. Shareholders of record on Friday, May 13th will be given a dividend of 0.10 per share on Friday, May 27th. This represents a $0.40 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, May 12th.

FRST opened at $13.65 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $336.06 million, a price-to-earnings ratio of 12.64 and a beta of 0.98. Primis Financial has a 52-week low of $12.88 and a 52-week high of $16.54. The firm’s fifty day simple moving average is $14.04 and its two-hundred day simple moving average is $14.82.

Primis Financial (NASDAQ:FRSTGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.04). Primis Financial had a return on equity of 8.18% and a net margin of 24.50%. During the same quarter in the previous year, the company earned $0.39 earnings per share. On average, research analysts forecast that Primis Financial will post 1.06 EPS for the current year.

In other news, CEO Dennis J. Zember, Jr. purchased 24,767 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The stock was bought at an average price of $13.79 per share, for a total transaction of $341,536.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles A. Kabbash acquired 2,400 shares of Primis Financial stock in a transaction dated Monday, February 7th. The shares were bought at an average price of $15.24 per share, with a total value of $36,576.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 40,031 shares of company stock valued at $557,326 and have sold 538 shares valued at $7,655. 2.88% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Primis Financial by 0.6% during the 4th quarter. BlackRock Inc. now owns 1,395,726 shares of the company’s stock worth $20,992,000 after buying an additional 8,796 shares during the last quarter. Wells Fargo & Company MN raised its position in Primis Financial by 91.4% in the 4th quarter. Wells Fargo & Company MN now owns 22,782 shares of the company’s stock valued at $342,000 after purchasing an additional 10,879 shares during the last quarter. MetLife Investment Management LLC increased its stake in Primis Financial by 140.5% in the 4th quarter. MetLife Investment Management LLC now owns 8,503 shares of the company’s stock valued at $128,000 after buying an additional 4,967 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Primis Financial by 37.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 49,563 shares of the company’s stock valued at $745,000 after buying an additional 13,524 shares during the period. Finally, Citadel Advisors LLC increased its stake in Primis Financial by 224.0% in the 4th quarter. Citadel Advisors LLC now owns 47,080 shares of the company’s stock valued at $709,000 after buying an additional 32,547 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Primis Financial from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday, March 7th.

About Primis Financial (Get Rating)

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.

See Also

Dividend History for Primis Financial (NASDAQ:FRST)

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