Primis Financial (NASDAQ:FRST) Issues Earnings Results, Misses Estimates By $0.07 EPS

Primis Financial (NASDAQ:FRST) issued its quarterly earnings data on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $49.23 million during the quarter, compared to the consensus estimate of $50.89 million.

Primis Financial Trading Down 4.1%

Shares of FRST traded down $0.66 during trading hours on Friday, hitting $15.28. 178,777 shares of the stock were exchanged, compared to its average volume of 117,694. Primis Financial has a fifty-two week low of $10.04 and a fifty-two week high of $16.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 0.96. The business has a 50-day moving average of $15.80 and a 200-day moving average of $15.37. The firm has a market capitalization of $378.94 million, a P/E ratio of 7.07 and a beta of 0.73.

Primis Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, November 6th. Primis Financial’s dividend payout ratio is currently 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 Analyst Weigh In

Several equities analysts have issued reports on the stock. Raymond James Financial decreased their price target on shares of Primis Financial from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Tuesday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Primis Financial in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, the company presently 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.