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

Primis Financial Corp. (NASDAQ:FRST) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Friday, May 10th will be given 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 of this dividend is Thursday, May 9th.

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

Shares of FRST stock opened at $10.71 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.99. The stock has a market capitalization of $264.20 million, a price-to-earnings ratio of 12.45 and a beta of 0.78. Primis Financial has a one year low of $7.01 and a one year high of $13.69. The company’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $11.38.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Primis Financial

In other Primis Financial news, Director Charles A. Kabbash purchased 3,390 shares of Primis Financial stock in a transaction dated Tuesday, March 12th. The shares were bought at an average cost of $12.51 per share, for a total transaction of $42,408.90. Following the transaction, the director now owns 76,183 shares in the company, valued at approximately $953,049.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders acquired a total of 7,500 shares of company stock worth $91,631 over the last 90 days. Insiders own 10.63% of the company’s stock.

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.