Primis Financial (FRST) AI Stock Analysis

• Market Cap: $274.67M
• Dividend Yield: 3.54%
• Average Volume (3M): 77.36K
• Price to Earnings (P/E): 69.3
• Beta (1Y): 1.06
• Revenue Growth: 5.36%
• EPS Growth: N/A
• Country: US
• Employees: 592
• Sector: Financial
• Sector Strength: 81
• Industry: Banks - Regional
• EPS (TTM): 0.14
• Shares Outstanding: 24,722,734
• 10 Day Avg. Volume: 92,606
• 30 Day Avg. Volume: 77,358
• PEG Ratio: -8.30
• Price to Book (P/B): 1.04
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 11.03
• Enterprise Value/Market Cap: 2.00
• Enterprise Value/Revenue: 0.82
• Enterprise Value/Gross Profit: 4.38
• Enterprise Value/Ebitda: 27.21
• 1Y Price Target: $14.00
• Price Target Upside: 26.01% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 59 Neutral
• Price Target: $11.50 ▲(3.51%Upside)

Primis Financial's stock score reflects a challenging financial performance with high valuation concerns. Despite strong technical momentum and strategic growth initiatives highlighted in the earnings call, risks such as overvaluation and operational challenges weigh heavily on the score.

Primis Financial Business Overview & Revenue Model

Company Description

Primis Financial Corp (FRST) is a financial holding company that operates primarily through its subsidiaries to provide a wide range of banking and financial services. The company is based in the United States and focuses on delivering community banking services, which include personal and business banking solutions. Its core offerings include deposit accounts, loans, and wealth management services. Primis Financial is committed to serving the financial needs of individuals, small to medium-sized businesses, and commercial clients in its local markets.

How the Company Makes Money

Primis Financial makes money primarily through the interest income earned on its loan portfolio, which includes commercial, consumer, and real estate loans. It also generates revenue from fees and service charges associated with its deposit accounts and other banking services. Additionally, the company earns income from its wealth management and investment advisory services, providing clients with financial planning and asset management solutions. Key revenue streams include net interest income, derived from the difference between interest earned on loans and interest paid on deposits, and non-interest income from fees and service charges. Strategic partnerships with financial technology firms and other financial institutions may enhance its service offerings and contribute to its earnings.

Primis Financial Financial Statement Overview

Summary

Primis Financial faces a challenging financial environment. The income statement shows declining profitability and inconsistent revenue growth. The balance sheet reflects moderate leverage but weakening equity, while the cash flow indicates strong operational cash generation, highlighting the need for strategic management to stabilize finances.

Income Statement

The income statement reveals a challenging period for Primis Financial, with fluctuating revenues and declining margins over recent periods. The TTM (Trailing-Twelve-Months) data shows a gross profit margin of approximately 58.3% and a negative net profit margin of -1.95%, indicating struggles in converting revenue into profit. Revenue growth has been inconsistent, with recent declines contributing to a negative trajectory.

Balance Sheet

Primis Financial's balance sheet shows a moderate level of stability with a debt-to-equity ratio of approximately 0.27, reflecting manageable leverage. However, the declining stockholders' equity over recent periods poses a concern. The equity ratio is around 9.67%, indicating a relatively low equity buffer compared to total assets, which could be a potential risk.

Cash Flow

The cash flow statement highlights a positive operating cash flow, with an operating cash flow to net income ratio of -18.67 in the TTM period, suggesting efficient cash generation relative to reported losses. However, the free cash flow growth has been erratic, and the company faces challenges in sustaining positive cash flow trends given the considerable financing outflows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	196.67M	107.70M	143.96M	125.81M	123.71M	99.80M
Gross Profit	125.13M	96.74M	135.79M	115.42M	110.47M	91.79M
EBITDA	3.04M	-19.98M	-2.09M	24.77M	47.78M	38.09M
Net Income	3.96M	-16.20M	-7.83M	14.15M	31.25M	23.29M
Balance Sheet
Total Assets	3.68B	3.70B	3.86B	3.57B	3.41B	3.09B
Cash, Cash Equivalents and Short-Term Investments	57.04M	243.96M	230.28M	314.17M	801.50M	349.42M
Total Debt	95.95M	95.88M	157.67M	426.08M	201.53M	223.57M
Total Liabilities	3.31B	3.33B	3.46B	3.18B	201.53M	223.57M
Stockholders Equity	355.60M	360.46M	376.16M	394.40M	411.88M	390.55M
Cash Flow
Free Cash Flow	55.00M	0.00	26.89M	12.09M	24.86M	28.58M
Operating Cash Flow	55.00M	19.53M	28.82M	13.11M	27.32M	29.66M
Investing Cash Flow	-190.01M	0.00	-312.76M	-617.51M	10.46M	-204.27M
Financing Cash Flow	-179.35M	-140.88M	283.63M	152.10M	296.21M	338.87M

Primis Financial Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 11.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FRST, the sentiment is Positive. The current price of 11.11 is above the 20-day moving average (MA) of 10.32, above the 50-day MA of 9.57, and above the 200-day MA of 10.56, indicating a bullish trend. The MACD of 0.45 indicates Negative momentum. The RSI at 71.74 is Negative, neither overbought nor oversold. The STOCH value of 85.17 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FRST.

Primis Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LCNB	76 Outperform	$211.38M	13.06	6.54%	5.67%	24.45%	25.55%
LCNB	76 Outperform	$211.38M	13.06	6.54%	5.67%	24.45%	25.55%
PWOD	70 Outperform	$242.28M	11.40	10.50%	3.98%	14.11%	29.41%
PWOD	70 Outperform	$242.28M	11.40	10.50%	3.98%	14.11%	29.41%
Sector *	67 Neutral	$16.89B	11.79	9.73%	3.75%	11.97%	-8.33%
CHMG	67 Neutral	$247.21M	10.89	10.65%	2.54%	6.05%	-9.27%
CHMG	67 Neutral	$247.21M	10.89	10.65%	2.54%	6.05%	-9.27%
MBCN	63 Neutral	$249.06M	15.40	7.72%	2.63%	8.36%	-2.51%
MBCN	63 Neutral	$249.06M	15.40	7.72%	2.63%	8.36%	-2.51%
FRST	59 Neutral	$274.67M	69.26	1.06%	3.54%	5.36%	―

Primis Financial Corporate Events

Primis Financial Updates Board Structure and Bylaws

On July 2, 2025, Primis Financial Corp. amended its Articles of Incorporation to remove the classified structure of its Board of Directors, effective from the 2026 annual meeting. The company also updated its bylaws to reflect this change. Additionally, the Board adopted the Primis Financial Corp. Omnibus Incentive Plan, which was approved by stockholders at the annual meeting on June 26, 2025.

The most recent analyst rating on (FRST) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Primis Financial stock, see the FRST Stock Forecast page.

Primis Financial Holds Annual Stockholders Meeting

On June 26, 2025, Primis Financial Corp. held its Annual Meeting of Stockholders, where 21,611,844 shares were represented. The stockholders elected four directors to the board, approved the amendment to declassify the board, ratified the appointment of Crowe, LLP as auditors, and approved the Omnibus Incentive Plan and executive compensation.

The most recent analyst rating on (FRST) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Primis Financial stock, see the FRST Stock Forecast page.

Primis Financial Appeals Nasdaq Delisting Decision

Primis Financial Corp. announced that it has submitted a hearing request to Nasdaq to appeal a delisting determination and has received a stay of delisting pending a final decision by the Nasdaq Hearings Panel. The company plans to file its Form 10-K for the year ending December 31, 2024, before the scheduled hearing on May 15, 2025, to regain compliance with Nasdaq Listing Rules.

Primis Financial Faces Nasdaq Non-Compliance Notice

Primis Financial Corp. announced that it received a notice from Nasdaq on April 3, 2025, indicating non-compliance with the Nasdaq Listing Rule due to a delayed filing of its Form 10-K for the period ending December 31, 2024. Despite being under a one-year Panel Monitor, the company appealed the determination to delist its securities and requested a hearing, which automatically stayed any suspension of trading for 15 days. Primis plans to file the Form 10-K promptly and expects to regain compliance before the hearing, ensuring no immediate effect on its Nasdaq listing.