NASDAQ$FRST

Primis Financial Corp · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Primis Financial Corp reported earnings per share for the third quarter of 2024.

Primis Financial Corp. reported a net income available to common shareholders of $1.2 million, or $0.05 per diluted share, for the quarter ended September 30, 2024. Adjusting for non-recurring charges, operating net income available to common shareholders was $2.0 million, or $0.08 per diluted share.

  • Net income available to common shareholders was $1.2 million, or $0.05 per diluted share.
  • Operating net income available to common shareholders, adjusted for non-recurring items, was $2.0 million, or $0.08 per diluted share.
  • Net interest income increased by $3.2 million, or 13%, to $28.0 million.
  • The company announced the sale of its Life Premium Finance Division to EverBank for a premium of $6.0 million.

Headline financials

Total Revenue

$37.3M

Previous: $37.1M+0.6%
EPS

$0.05

Previous: $0.32-84.4%
Net Interest Margin

3.0%

Previous: 3.0%-1.7%
Cost of Funds

3.3%

Previous: 2.7%+19.0%
Return on Avg Assets

0.1%

No prior period
Operating ROA

0.2%

Previous: 0.8%-75.3%
PTPP ROA

0.9%

No prior period
Operating PTPP ROA

1.0%

No prior period
ROE

1.3%

No prior period
Operating ROE

2.1%

No prior period
Op. ROATCE

2.9%

No prior period
Loans to Deposits

89.9%

Previous: 95.5%-5.8%
Efficiency Ratio

82.8%

Previous: 69.9%+18.4%
Operating Efficiency

79.9%

No prior period
Book Value/Share

$15.41

No prior period
Tangible Book/Share

$11.59

No prior period
Dividend/Share

$0.10

No prior period
Non-perf. Assets/Assets

0.3%

No prior period
Net Charge-offs %

0.9%

No prior period
Core Net Charge-offs %

0.1%

No prior period
ACL to Total Loans

1.7%

No prior period
Common Eq./Assets

9.5%

No prior period
TCE/TA

7.3%

No prior period
Leverage Ratio

8.2%

Previous: 8.8%-6.8%
CET1 Ratio

8.2%

Previous: 9.8%-15.7%
Tier 1 Risk-Based

8.5%

Previous: 10.1%-15.5%
Total Risk-Based

11.7%

Previous: 13.5%-13.7%
Capital Expenditures

$0.00

Previous: $0.00
Free Cash Flow

$1.23M

Previous: -$3.57M+134.4%
Net Income

$1.23M

Previous: -$3.57M+134.4%
Operating Income

-$6.45M

Previous: -$11.1M+41.7%
Gross Profit

$37.3M

Previous: $37.1M+0.6%
Cash & Equivalents

$77.3M

Previous: $93.9M-17.7%
Total Assets

$4.02B

Previous: $3.81B+5.5%
Stock-Based Comp

$41K

Previous: $76K-46.1%

Revenue & EPS history

Primis · Revenue · Quarterly

$37.3M

Q3 2024+0.6%vs Q3 2023
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Revenue by segment

Primis · $2.03M total across 2 segments · Q3 2020

  • Account Fees
    $1.63M
  • BOLI Income
    $394K

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2024

Historical avgQ3 2024

+0.1%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+1.7%

Avg return

30 days after

49%

32 / 65 earnings

Positive

+12.2%

Q1 2020

Best reaction

-8.5%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.7%+4.8%+2.8%
Q4 2025-0.6%+5.4%-2.7%
Q3 2025+10.1%+10.7%+12.9%
Q2 2025-1.9%-4.5%-3.3%
Q1 2025-1.2%+7.0%+13.5%
Q4 2024-8.5%-4.3%-9.6%
Q3 2024-5.1%-3.1%+5.6%
Q2 2024+4.5%+3.5%-3.6%
Q1 2024-7.0%-11.1%-2.1%
Q4 2023+4.4%+8.2%-1.7%
Q3 2023+7.5%+21.2%+29.3%
Q2 2023-4.5%-2.5%-9.3%
Q1 2023-1.8%-13.1%-17.3%
Q4 2022-1.3%-0.8%-0.8%
Q3 2022+2.5%+1.8%-1.5%
Q2 2022+1.9%+1.1%+0.2%
Q1 2022+0.0%-2.5%-2.2%
Q4 2021-0.3%-1.0%-3.9%
Q3 2021+5.0%+7.2%+6.7%
Q2 2021+0.7%+1.4%-0.4%
Q1 2021+1.9%+3.1%+4.6%
Q4 2020+1.2%+2.1%+19.0%
Q3 2020+0.0%-3.5%+15.3%
Q2 2020-6.5%-4.5%-2.8%
Q1 2020+12.2%+3.3%+7.1%
Q4 2019+2.8%+4.3%-6.0%
Q3 2019+0.1%+0.6%+0.9%
Q2 2019+2.3%+1.7%-8.6%
Q1 2019-3.2%-3.9%-6.4%
Q4 2018+2.0%+7.3%+14.8%
Q3 2018+2.2%+3.1%+4.2%
Q2 2018-2.5%+2.6%+2.8%
Q1 2018+3.0%+2.5%+8.4%
Q4 2017+0.1%+0.7%-2.7%
Q3 2017-0.7%-3.3%-1.4%
Q2 2017-3.8%-2.7%-4.5%
Q1 2017-0.6%-4.3%-7.0%
Q4 2016-3.9%-1.4%+4.0%
Q3 2016-1.0%+0.0%+10.4%
Q2 2016-1.4%+3.9%+3.2%
Q1 2016-0.4%
Q4 2015-0.9%
Q3 2015+0.6%
Q2 2015-2.4%
Q1 2015-1.2%
Q4 2014-0.8%
Q3 2014+2.3%
Q2 2014+0.1%
Q1 2014-0.4%
Q4 2013+0.6%
Q3 2013+0.0%
Q2 2013+0.9%
Q1 2013-2.6%
Q4 2012+0.3%
Q3 2012+1.1%
Q2 2012+1.4%
Q4 2011+0.3%
Q1 2012+0.3%
Q4 2010+0.3%
Q3 2011+0.8%
Q2 2011+0.0%
Q1 2011+0.9%
Q3 2010-0.7%
Q2 2010+0.0%
Q1 2010+1.4%

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro