Primis Financial (NASDAQ:FRST) Reports Quarterly Earnings

Primis Financial (NASDAQ:FRST) released its quarterly earnings report on Thursday, reflecting significant results for the company. For the quarter, Primis recorded an earnings per share (EPS) of $0.08. This number fell short of analysts' expectations, which had forecasted a consensus estimate of $0.43, resulting in a miss of $0.35. Additionally, the firm posted revenue totaling $66.40 million for this quarter. To provide context, during the same period last year, the company had reported an EPS of $0.32.

Stock Performance

In response to the earnings report, Primis Financial's stock experienced a decline of 3.8% in midday trading on Friday, approaching a value of $11.35. The trading volume for the day reached 152,166 shares, significantly higher than the average of 65,600 shares. Currently, the company's stock has a 50-day moving average of $11.85 and a 200-day moving average of $11.21. Over the past year, the stock has reached a low of $7.71 and a high of $13.69. Primis Financial carries a market capitalization of $280.14 million, with a price-to-earnings (PE) ratio of 13.20 and a beta of 0.75.

Dividend Declaration

Primis Financial also made an announcement regarding a quarterly dividend. The company stated that a dividend of $0.10 per share will be distributed on Friday, November 22nd, to shareholders who are on record as of Friday, November 8th. This indicates an annualized dividend of $0.40, equating to a yield of 3.52%. The ex-dividend date is set for November 8th, and the company's payout ratio stands at 46.51%.

Company Overview

Primis Financial Corp. is a bank holding company for Primis Bank, which provides a variety of financial services to individuals as well as small to medium-sized businesses across the United States. Services offered include a range of deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

Investment Insights

Considering the performance of Primis Financial, potential investors may want to reevaluate their positions. Despite the current hold rating among analysts, there may be alternative stocks that show greater potential. MarketBeat has highlighted five other stocks that are currently favored by top analysts and may offer better investment opportunities at this time.

Primis, Earnings, Stock, Dividend, Performance