Primis Financial (NASDAQ:FRST) Announces Earnings Results

Primis Financial (NASDAQ:FRST) posted its earnings results on Thursday. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07), reports. Primis Financial had a net margin of 19.19% and a return on equity of 5.49%. The firm had revenue of $49.23 million during the quarter, compared to the consensus estimate of $50.89 million.

Primis Financial Trading Down 4.1%

NASDAQ:FRST traded down $0.66 during trading hours on Friday, hitting $15.28. 178,777 shares of the company were exchanged, compared to its average volume of 117,694. The stock has a market capitalization of $378.94 million, a price-to-earnings ratio of 7.07 and a beta of 0.73. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Primis Financial has a one year low of $10.04 and a one year high of $16.88. The company has a fifty day simple moving average of $15.80 and a 200 day simple moving average of $15.37.

Primis Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, November 6th. Primis Financial’s dividend payout ratio is presently 18.52%.

Key Primis Financial News

Here are the key news stories impacting Primis Financial this week:

• Positive Sentiment: Third-quarter net income available to common shareholders increased to $8.7 million, or $0.35 per diluted share, from $6.8 million, or $0.28 per share, a year earlier. Net interest income rose 25% to $36.3 million, while net interest margin expanded to 3.66% from 3.18%. Primis Financial Reports $8.7 Million Third-Quarter Net Income
• Positive Sentiment: The board declared a quarterly cash dividend of $0.10 per share, payable November 20 to shareholders of record November 6. The dividend implies an annualized payout of $0.40 and a yield of approximately 2.6%. Primis Financial Corp. Reports Strong Results for the Third Quarter of 2026
• Positive Sentiment: Reported insider activity was favorable, with the cited data showing 24 purchases and no insider sales over the past six months. This may signal management confidence, although insider transactions are not a substitute for improving operating results.
• Neutral Sentiment: Primis ended the quarter with $4.3 billion in assets, $3.47 billion in deposits and $3.50 billion in loans held for investment. Institutional positioning was mixed, with several large investors adding shares while others reduced or eliminated holdings.
• Negative Sentiment: Adjusted for expectations, quarterly EPS of $0.35 missed consensus estimates ranging from $0.42 to $0.45, while revenue of $49.23 million was below the $50.89 million estimate. The earnings shortfall is the clearest reason for the weaker investor response. Primis Financial Earnings Results
• Negative Sentiment: Coverage characterized the quarter as one in which a mortgage-market slump dented earnings despite improved revenue trends. Investors may remain concerned about mortgage-related income and the company’s ability to convert balance-sheet growth into expected profitability. Primis Financial Q3 2026 Mortgage Slump Analysis
• Negative Sentiment: Primis also reported third-quarter net charge-offs, making credit quality an additional item for investors to monitor alongside noninterest expense of $37.2 million. Primis Financial Net Charge-Off Report

Wall Street Analysts Forecast Growth

FRST has been the subject of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primis Financial in a research note on Wednesday. Raymond James Financial dropped their price objective on shares of Primis Financial from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, Primis Financial has a consensus rating of “Buy” and a consensus target price of $17.50.

About Primis Financial

Primis Financial Corp. is a bank holding company headquartered in Glen Allen, Virginia. Its principal subsidiary, Primis Bank, provides banking and financial services to individuals, families, businesses and nonprofit organizations.

Primis Bank offers deposit products, residential and commercial real estate loans, consumer lending, business loans, treasury and cash-management services, mortgage banking and online and mobile banking. The bank also provides services designed to support small and middle-market businesses, including commercial lending and payment solutions.

The institution was formerly known as Sonabank and adopted the Primis name as part of a broader rebranding in 2020.