NasdaqGM:FRST

Stock Analysis Report

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Market Cap

US$375.1m

Last Updated

2021/07/27 02:05 UTC

Data Sources

Company Financials +

Executive Summary

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. More Details


Snowflake Analysis

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has Primis Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FRST is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: FRST's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

3.2%

FRST

3.7%

US Banks

3.3%

US Market


1 Year Return

80.8%

FRST

59.0%

US Banks

37.8%

US Market

Return vs Industry: FRST exceeded the US Banks industry which returned 55% over the past year.

Return vs Market: FRST exceeded the US Market which returned 39.1% over the past year.


Shareholder returns

FRSTIndustryMarket
7 Day3.2%3.7%3.3%
30 Day0.7%-4.8%1.1%
90 Day6.5%-3.8%2.9%
1 Year87.4%80.8%63.5%59.0%39.9%37.8%
3 Year-3.6%-11.6%17.7%7.6%65.8%55.4%
5 Year34.1%18.0%96.5%71.8%124.3%99.4%

Long-Term Price Volatility Vs. Market

How volatile is Primis Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Primis Financial undervalued compared to its fair value and its price relative to the market?

20.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FRST ($15.31) is trading below our estimate of fair value ($19.18)

Significantly Below Fair Value: FRST is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FRST is poor value based on its PE Ratio (11.4x) compared to the US Banks industry average (11x).

PE vs Market: FRST is good value based on its PE Ratio (11.4x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: FRST's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FRST is good value based on its PB Ratio (0.9x) compared to the US Banks industry average (1.1x).


Future Growth

How is Primis Financial forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-9.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FRST's earnings are forecast to decline over the next 3 years (-9% per year).

Earnings vs Market: FRST's earnings are forecast to decline over the next 3 years (-9% per year).

High Growth Earnings: FRST's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FRST's revenue is expected to decline over the next 3 years (-6.8% per year).

High Growth Revenue: FRST's revenue is forecast to decline over the next 3 years (-6.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FRST's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Primis Financial performed over the past 5 years?

27.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FRST has high quality earnings.

Growing Profit Margin: FRST's current net profit margins (30.3%) are higher than last year (29.6%).


Past Earnings Growth Analysis

Earnings Trend: FRST's earnings have grown significantly by 27.7% per year over the past 5 years.

Accelerating Growth: FRST's earnings growth over the past year (20.1%) is below its 5-year average (27.7% per year).

Earnings vs Industry: FRST earnings growth over the past year (20.1%) underperformed the Banks industry 28.4%.


Return on Equity

High ROE: FRST's Return on Equity (8.2%) is considered low.


Financial Health

How is Primis Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FRST's Assets to Equity ratio (8.4x) is low.

Allowance for Bad Loans: FRST has a sufficient allowance for bad loans (245%).

Low Risk Liabilities: 92% of FRST's liabilities are made up of primarily low risk sources of funding.

Loan Level: FRST has an appropriate level of Loans to Assets ratio (71%).

Low Risk Deposits: FRST's Loans to Deposits ratio (88%) is appropriate.

Level of Bad Loans: FRST has an appropriate level of bad loans (0.6%).


Dividend

What is Primis Financial current dividend yield, its reliability and sustainability?

2.61%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FRST's dividend (2.61%) is higher than the bottom 25% of dividend payers in the US market (1.32%).

High Dividend: FRST's dividend (2.61%) is low compared to the top 25% of dividend payers in the US market (3.56%).


Stability and Growth of Payments

Stable Dividend: FRST has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: FRST's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (29.8%), FRST's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.4yrs

Average management tenure


CEO

Dennis Zember (51 yo)

1.42yrs

Tenure

US$1,348,430

Compensation

Mr. Dennis J. Zember, Jr., serves as President, Chief Executive Officer and Director of Primis Financial Corp. (formerly known as Southern National Bancorp of Virginia, Inc.) and Primis Bank since February...


CEO Compensation Analysis

Compensation vs Market: Dennis's total compensation ($USD1.35M) is about average for companies of similar size in the US market ($USD1.75M).

Compensation vs Earnings: Insufficient data to compare Dennis's compensation with company performance.


Leadership Team

Experienced Management: FRST's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

Experienced Board: FRST's board of directors are considered experienced (4.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FRST insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Primis Financial Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Primis Financial Corp.
  • Ticker: FRST
  • Exchange: NasdaqGM
  • Founded: 2004
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$375.070m
  • Shares outstanding: 24.53m
  • Website: https://www.primisbank.com

Number of Employees


Location

  • Primis Financial Corp.
  • 6830 Old Dominion Drive
  • McLean
  • Virginia
  • 22101
  • United States

Listings


Biography

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 deposi...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/07/27 02:05
End of Day Share Price2021/07/26 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.