Primis Financial Corp.
$14.38
-3.4%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 deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits. The company also offers commercial business and real estate, construction, secured asset based, small business administration, mortgage warehouse lending products, as well as financing for medical, dental, and veterinary businesses; residential mortgage, trust mortgage, home equity lines of credit, secured and unsecured personal, and consumer loans, as well as life insurance premium financing and demand loans. It also offers cash management services comprising investment/sweep, zero balance, and controlled disbursement accounts; and wire transfer, employer/payroll processing, night depository, depository transfer, merchant, ACH origination, and remote deposit capture services. In addition, the company provides debit cards, ATM services, notary services, and mobile and online banking. As of December 31, 2021, it operated forty full-service branches in Virginia and Maryland. The company was formerly known as Southern National Bancorp of Virginia, Inc. and changed its name to Primis Financial Corp. Primis Financial Corp. was founded in 2004 and is based in McLean, Virginia.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is compressed (P/E 5.8).
Valuation inputs: P/E 5.8, earnings yield +17.3%, momentum -3.4%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is acceptable (ROE +14.5%, ROIC +3.1%).
Profitability stack: net margin +19.7%, ROE +14.5%, ROIC +3.1%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +89.6%, momentum -3.4%, net margin +19.7%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Primis Financial Corp. Market vs Earnings Trajectory
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Primis Financial Corp. Fair Value Envelope
Primis Financial Corp. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Healthy operating margins demonstrate effective cost control and strong business fundamentals.
Net Profit Margin
Strong net margins indicate efficient operations and favorable tax/interest management.
Effective Tax Rate
Moderate tax rate typical for most corporations. Represents standard tax burden on profits.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
Primis Financial Corp. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash Flow Quality Insight
Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.
Primis Financial Corp. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.
Debt-to-Equity Ratio
High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.
Working Capital
Negative working capital indicates short-term liabilities exceed short-term assets—potential liquidity stress.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Financial Health Insight
Financial stress indicators: Both liquidity and leverage metrics raise concerns. The company may face challenges meeting obligations and should focus on strengthening its balance sheet.
Primis Financial Corp. Street Expectations Map
Wall Street analysts project that FRST stock may see slight declines over the coming 12 months. The consensus 1-year price target stands at 14.00, with estimates ranging from a low of 14.00 to a high of 14.00.
The consensus 1-year price target stands at 14.00, with estimates ranging from a low of 14.00 to a high of 14.00.
Analyst Consensus Analysis
Upside Potential
Fair value territory. Stock trading near consensus target suggests limited near-term catalysts. Focus on fundamental developments.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Risk-Reward Profile
Balanced risk-reward. Upside and downside potential relatively symmetric. Suitable for moderate risk tolerance with conviction in thesis.
Analyst Conviction
Neutral sentiment. Fair value pricing with moderate agreement suggests wait-and-see approach or catalyst-driven opportunity.
Market Sentiment Insight
Efficient pricing: Stock trading at fair value with strong consensus suggests market has priced in expectations. Look for fundamental inflection points or new catalysts to drive meaningful moves.
Primis Financial Corp. Insider Positioning
During the last 12 months, insiders have purchased $351K worth of FRST shares, with no selling activity reported.
3 Months
10.1K
137.81K
0
0.00
+138K
+$138K
3-6 Months
7.3K
100.19K
0
0.00
+100K
+$100K
6-9 Months
6.2K
67.95K
0
0.00
+68K
+$68K
9-12 Months
4.1K
44.98K
0
0.00
+45K
+$45K
Top Buyers
Clagett Robert Yates
Director
$85K
Garrett F L Iii
Director
$65K
Cook William Rand
Director
$45K
Biagas John Fitzgerald
Director
$44K
Switzer Matthew Alan
Officer: Evp, Cfo
$35K
Top Sellers
No selling activity
Insider Activity Analysis
Net Insider Sentiment
Strong bullish signal with $351K net buying. Insiders are aggressively accumulating shares, suggesting significant confidence in future prospects.
Buy/Sell Ratio
Perfect buy/sell ratio. Only buying activity with zero selling—the most bullish possible insider signal.
Recent Trend (3 Months)
Very strong recent buying momentum. Recent insider purchases significantly outpace sales, suggesting near-term optimism.
Insider Participation
5 insider buyers vs. 0 sellers. Broad-based buying across management team suggests widespread confidence.
Insider Activity Insight
Strong confluence of bullish signals: High buy/sell ratio, multiple insiders participating, and recent buying momentum all point to significant insider confidence. This level of coordinated buying often precedes positive developments.
frst Dividend History
Learning Layer
Related Guides
Build conviction on FRST by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.