Primis Financial (NASDAQ:FRST) Issues Earnings Results

Posted by Stanley Muller on Oct 23rd, 2026

Primis Financial (NASDAQ:FRST – Get Free Report) announced its quarterly earnings data on Friday. 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 company had revenue of $49.23 million for the quarter, compared to analysts’ expectations of $50.89 million.

Here are the key takeaways from Primis Financial’s conference call:

Third-quarter earnings improved year over year to $8.7 million, or $0.35 per diluted share, while operating earnings rose substantially and pre-tax, pre-provision operating income increased 38% from the prior-year period.
Core banking performance remained strong, with net interest margin expanding to 3.66% and core margin reaching 3.59% excluding a $700,000 interest recovery. Management expects additional, though more moderate, margin expansion from loan repricing and stable deposit costs.
Mortgage banking revenue declined as higher rates reduced activity, and management expects annual mortgage volume to fall from roughly $1.6 billion to $1.1 billion if rates remain elevated. The mortgage division lost approximately $200,000 in the quarter, although the company has reduced fixed costs by about $4 million annually.
Credit quality and capital trends improved, with non-performing assets declining to 1.43% of total assets, tangible book value rising 18% year over year, and the TCE ratio increasing to 8.14%. Management is targeting a TCE ratio above 8.5% through continued earnings growth and disciplined balance-sheet expansion.

Primis Financial Stock Down 3.5%

NASDAQ FRST traded down $0.56 during mid-day trading on Friday, reaching $15.38. The stock had a trading volume of 20,823 shares, compared to its average volume of 173,163. The stock has a market cap of $381.30 million, a PE ratio of 7.12 and a beta of 0.73. Primis Financial has a 1 year low of $10.04 and a 1 year 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 company has a fifty day moving average price of $15.82 and a 200 day moving average price of $15.37.

Primis Financial Announces Dividend

The company 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 payout ratio is presently 18.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primis Financial in a research report on Wednesday. Raymond James Financial cut their price objective on shares of Primis Financial from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Primis Financial currently has a consensus rating of “Buy” and a consensus price target of $17.50.

View Our Latest Report on FRST

Primis Financial News Roundup

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 improved to 3.66% from 3.18%. Primis Financial third-quarter results
Positive Sentiment: Primis declared a quarterly cash dividend of $0.10 per share, equivalent to $0.40 annually and a yield of approximately 2.6%. The dividend is payable November 20 to shareholders of record November 6. Dividend announcement
Positive Sentiment: Reported data showed all listed Primis insiders made purchases, with no reported insider sales during the past six months. This may signal confidence, although the activity is not a direct indicator of near-term performance.
Neutral Sentiment: Assets totaled $4.3 billion at September 30, with $3.47 billion of deposits and $3.50 billion of loans held for investment. Institutional activity was mixed, with several large investors adding shares while others reduced or exited positions.
Negative Sentiment: Third-quarter EPS of $0.35 missed analyst estimates ranging from $0.42 to $0.45, while reported revenue of $49.23 million was below the $50.89 million consensus cited by MarketBeat. Primis Financial earnings report
Negative Sentiment: Coverage attributed the earnings shortfall to a mortgage slump, raising concerns about weaker mortgage-related activity despite stronger net interest income. The company also reported third-quarter net charge-offs, which investors may monitor for deterioration in credit quality. Primis Financial Q3 analysis

Primis Financial Company Profile

(Get Free Report)

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.