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

Primis Financial Corp. (NASDAQ:FRST) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors 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 3.74%. The ex-dividend date is Thursday, May 9th.

Primis Financial has a payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Equities research 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

NASDAQ FRST opened at $10.71 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $264.20 million, a PE ratio of 12.45 and a beta of 0.78. Primis Financial has a 12-month low of $7.01 and a 12-month high of $13.69. The company has a 50 day moving average price of $11.36 and a two-hundred day moving average price of $11.38.

Insider Transactions at Primis Financial

In related news, Director Charles A. Kabbash purchased 3,390 shares of the stock in a transaction on Tuesday, March 12th. The shares were 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 approximately $953,049.33. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 7,500 shares of company stock worth $91,631. 10.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, TheStreet upgraded shares of Primis Financial from a “c” rating to a “b” rating in a report on Friday, January 26th.

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.