Stephens analyst Russell Gunther lowered the firm’s price target on Primis Financial (FRST) to $14 from $16 and keeps an Overweight rating on the shares following quarterly results that were accompanied by the announced sale of the Life Premium Finance division to EverBank. Related revenue will be replaced and ultimately enhanced by the entry into mortgage warehouse, says the analyst, who thinks the “air pocket in volume” should be absorbed by Q2 of 2025 alongside an estimated 150 basis point higher effective yield.
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