Primis Financial (FRST)


Market Price (11/6/2026): $14.66 | Market Cap: $363.6 MilSector: Financials | Industry: Regional Banks

Primis Financial (FRST)


Market Price (11/6/2026): $14.66
Market Cap: $363.6 Mil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 18%, Dividend Yield is 2.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%

Low stock price volatility
Vol 12M is 26%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending.

Weak multi-year price returns
3Y Excs Rtn is -11%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -25%

Key risks
FRST key risks include [1] a potential Nasdaq delisting stemming from its failure to timely file financial reports and acknowledged material weaknesses in internal controls, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 18%, Dividend Yield is 2.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%
1 Low stock price volatility
Vol 12M is 26%
2 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending.
3 Weak multi-year price returns
3Y Excs Rtn is -11%
4 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -25%
5 Key risks
FRST key risks include [1] a potential Nasdaq delisting stemming from its failure to timely file financial reports and acknowledged material weaknesses in internal controls, Show more.

FRST in ETFs

Weight = FRST's share of each fund

VTI0.00%
IWM0.01%
IWN0.01%
AVUV0.01%
VTWO0.01%
IWO0.01%
DFAS0.01%
DFAC0.00%
+1 more covered ETF

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/1/2026

Primis Financial (FRST) stock has lost about 10% since 7/31/2026 because of the following key factors:

1. Disappointing Fiscal Q3 2026 Earnings per Share: Primis Financial (FRST) reported diluted earnings per share (EPS) of $0.35 for fiscal Q3 2026, which ended September 30, 2026, missing analyst consensus estimates ranging from $0.42 to $0.45. This earnings shortfall, a miss of $0.07 to $0.10 per share, contributed to a 3.7% decline in the stock price following the announcement on October 22, 2026, and a subsequent downgrade by Zacks Research from "hold" to "strong sell" on October 29, 2026.

2. Headwinds in the Mortgage Market: The company faced significant challenges in its mortgage operations during fiscal Q3 2026. The retail mortgage pipeline experienced a notable decrease of 37%, leading to a reduction in noninterest income compared to the prior quarter. This segment ultimately recorded a small loss of $0.2 million, acting as a headwind to overall profitability, with management indicating that absent these issues, the bank's return on average assets would have been approximately 1.00%.

Show more
Updated on 11/1/2026

Primis Financial (FRST) stock has lost about 10% since 7/31/2026 because of the following key factors:

1. Disappointing Fiscal Q3 2026 Earnings per Share: Primis Financial (FRST) reported diluted earnings per share (EPS) of $0.35 for fiscal Q3 2026, which ended September 30, 2026, missing analyst consensus estimates ranging from $0.42 to $0.45. This earnings shortfall, a miss of $0.07 to $0.10 per share, contributed to a 3.7% decline in the stock price following the announcement on October 22, 2026, and a subsequent downgrade by Zacks Research from "hold" to "strong sell" on October 29, 2026.

2. Headwinds in the Mortgage Market: The company faced significant challenges in its mortgage operations during fiscal Q3 2026. The retail mortgage pipeline experienced a notable decrease of 37%, leading to a reduction in noninterest income compared to the prior quarter. This segment ultimately recorded a small loss of $0.2 million, acting as a headwind to overall profitability, with management indicating that absent these issues, the bank's return on average assets would have been approximately 1.00%.

3. Broader Regional Banking Sector Concerns: Macroeconomic factors created a challenging environment for the regional banking sector during the period. Concerns such as persistent inflation, the Federal Reserve's interest rate hikes, and rising 10-year Treasury yields weighed on investor sentiment. Additionally, some regional banks experienced pressure on tangible book values and deposit levels, contributing to a cautious outlook for the sector as a whole, which impacted Primis Financial.

4. Technical Selling Pressure: The stock's downward trend was exacerbated by technical indicators. On October 27, 2026, Primis Financial's shares fell below their 200-day moving average, trading as low as $14.66 and closing at $14.73, a 3.6% drop. This breach of a key technical support level can signal a bearish trend and often triggers further selling activity by investors.

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Stock Movement Drivers

Fundamental Drivers

The -8.6% change in FRST stock from 7/31/2026 to 11/5/2026 was primarily driven by a -20.4% change in the company's P/E Multiple.
(LTM values as of)731202611052026Change
Stock Price ($)15.9214.56-8.6%
Change Contribution By: 
Total Revenues ($ Mil)15217212.9%
Net Income Margin (%)30.3%30.9%2.0%
P/E Multiple8.56.8-20.4%
Shares Outstanding (Mil)2525-0.3%
Cumulative Contribution-8.6%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/5/2026
ReturnCorrelation
FRST-8.6% 
Market (SPY)-1.9%34.1%
Sector (XLF)1.0%60.9%

Fundamental Drivers

The 0.6% change in FRST stock from 4/30/2026 to 11/5/2026 was primarily driven by a 16.9% change in the company's P/E Multiple.
(LTM values as of)430202611052026Change
Stock Price ($)14.4714.560.6%
Change Contribution By: 
Total Revenues ($ Mil)1651724.0%
Net Income Margin (%)37.1%30.9%-16.9%
P/E Multiple5.86.816.9%
Shares Outstanding (Mil)2525-0.4%
Cumulative Contribution0.6%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/5/2026
ReturnCorrelation
FRST0.6% 
Market (SPY)2.3%20.0%
Sector (XLF)10.7%46.0%

Fundamental Drivers

The 37.8% change in FRST stock from 10/31/2025 to 11/5/2026 was primarily driven by a 1675.4% change in the company's Net Income Margin (%).
(LTM values as of)1031202511052026Change
Stock Price ($)10.5714.5637.8%
Change Contribution By: 
Total Revenues ($ Mil)1711720.9%
Net Income Margin (%)1.7%30.9%1675.4%
P/E Multiple88.06.8-92.3%
Shares Outstanding (Mil)2525-0.1%
Cumulative Contribution37.8%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/5/2026
ReturnCorrelation
FRST37.8% 
Market (SPY)8.4%21.2%
Sector (XLF)11.1%44.1%

Fundamental Drivers

The 72.4% change in FRST stock from 10/31/2023 to 11/5/2026 was primarily driven by a 289.3% change in the company's Net Income Margin (%).
(LTM values as of)1031202311052026Change
Stock Price ($)8.4414.5672.4%
Change Contribution By: 
Total Revenues ($ Mil)14317219.9%
Net Income Margin (%)7.9%30.9%289.3%
P/E Multiple18.36.8-62.9%
Shares Outstanding (Mil)2525-0.4%
Cumulative Contribution72.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/5/2026
ReturnCorrelation
FRST72.4% 
Market (SPY)81.3%42.5%
Sector (XLF)85.5%58.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
FRST Return28%-18%11%-5%24%7%47%
Peers Return33%-5%-20%9%10%15%39%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
FRST Win Rate58%17%42%42%58%27% 
Peers Win Rate62%42%38%50%58%53% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
FRST Max Drawdown-18%-24%-41%-29%-31%-13% 
Peers Max Drawdown-23%-25%-50%-19%-26%-17% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AUB, TOWN, WSBC, BHRB, BRBS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)

How Low Can It Go

EventFRSTS&P 500
2025 US Tariff Shock
  % Loss-27.6%-18.8%
  % Gain to Breakeven38.0%23.1%
  Time to Breakeven80 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-18.2%-9.5%
  % Gain to Breakeven22.2%10.5%
  Time to Breakeven8 days24 days
2023 SVB Regional Banking Crisis
  % Loss-41.3%-6.7%
  % Gain to Breakeven70.4%7.1%
  Time to Breakeven223 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-20.5%-24.5%
  % Gain to Breakeven25.8%32.4%
  Time to Breakeven1162 days427 days
2020 COVID-19 Crash
  % Loss-50.3%-33.7%
  % Gain to Breakeven101.1%50.9%
  Time to Breakeven351 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-19.0%-19.2%
  % Gain to Breakeven23.4%23.8%
  Time to Breakeven50 days105 days

Compare to AUB, TOWN, WSBC, BHRB, BRBS

In The Past

Primis Financial's stock fell -27.6% during the 2025 US Tariff Shock. Such a loss loss requires a 38.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventFRSTS&P 500
2025 US Tariff Shock
  % Loss-27.6%-18.8%
  % Gain to Breakeven38.0%23.1%
  Time to Breakeven80 days79 days
2023 SVB Regional Banking Crisis
  % Loss-41.3%-6.7%
  % Gain to Breakeven70.4%7.1%
  Time to Breakeven223 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-20.5%-24.5%
  % Gain to Breakeven25.8%32.4%
  Time to Breakeven1162 days427 days
2020 COVID-19 Crash
  % Loss-50.3%-33.7%
  % Gain to Breakeven101.1%50.9%
  Time to Breakeven351 days140 days
2008-2009 Global Financial Crisis
  % Loss-66.3%-53.4%
  % Gain to Breakeven196.9%114.4%
  Time to Breakeven1432 days1085 days

Compare to AUB, TOWN, WSBC, BHRB, BRBS

In The Past

Primis Financial's stock fell -27.6% during the 2025 US Tariff Shock. Such a loss loss requires a 38.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Primis Financial (FRST)

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Primis Financial Corp. (FRST) operates as a bank holding company for Primis Bank, offering a comprehensive range of financial services. The company primarily caters to individuals and small to medium-sized businesses, with its physical footprint centered in Virginia and Maryland, where it operates multiple full-service branches.

The bank's core product offerings include a variety of deposit accounts such as checking, savings, money market accounts, and certificates of deposit. On the lending side, Primis provides a broad spectrum of loan products. This encompasses commercial business and real estate loans, construction financing, and specialized lending solutions for professional practices in the medical, dental, and veterinary fields. For individual customers, the bank offers residential mortgages, home equity lines of credit, and various personal and consumer loans.

In addition to traditional banking services, Primis Financial also provides essential cash management solutions for businesses, including wire transfers, ACH origination, and remote deposit capture. The company further enhances its offerings with modern conveniences like debit cards, ATM services, and robust mobile and online banking platforms, ensuring a blend of accessible branch services and convenient digital banking options for its clientele.

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AI Analysis | Feedback

Here are 1-2 brief analogies for Primis Financial:

  • Bank of America for Virginia and Maryland small businesses.

  • A local version of PNC Bank, serving individuals and small businesses in Virginia and Maryland.

AI Analysis | Feedback

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  • Deposit Accounts: Offers various account types including checking, NOW, savings, money market accounts, and certificates of deposits for managing personal and business funds.
  • Business and Commercial Loans: Provides financing solutions for commercial businesses, real estate, construction projects, secured assets, small business administration needs, and specialized medical, dental, and veterinary practices.
  • Mortgage Warehouse Lending: Provides short-term credit lines to mortgage originators to fund mortgage loans before they are sold to permanent investors.
  • Residential and Consumer Loans: Offers financing for homes through residential and trust mortgages, home equity lines of credit, secured and unsecured personal loans, consumer loans, life insurance premium financing, and demand loans.
  • Cash Management Services: Provides a suite of services for businesses, including investment/sweep, zero balance, and controlled disbursement accounts to optimize cash flow management.
  • Payment Processing and Transfer Services: Facilitates various payment operations such as wire transfers, ACH origination, employer/payroll processing, merchant services, and night depository.
  • Remote Deposit Capture: Enables businesses to electronically deposit checks from their location without visiting a physical branch.
  • Digital Banking and Access Services: Offers modern banking conveniences including debit cards, ATM services, mobile and online banking platforms for remote account management.
  • Notary Services: Provides official authentication of signatures on legal and important documents for customers.
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AI Analysis | Feedback

Primis Financial (FRST) serves both individuals and small to medium-sized businesses. Its major customer categories include:

  • Individuals: This category includes customers seeking personal banking services such as checking, savings, money market accounts, certificates of deposit, residential mortgages, home equity lines of credit, secured and unsecured personal loans, consumer loans, and access to debit cards, ATMs, mobile, and online banking.
  • Small and Medium-Sized Businesses (SMBs): This category encompasses businesses in various sectors, including medical, dental, and veterinary practices, that utilize Primis Bank for commercial business and real estate loans, construction financing, secured asset-based lending, Small Business Administration (SBA) loans, and mortgage warehouse lending products. They also utilize cash management services like investment/sweep accounts, zero balance accounts, controlled disbursement, wire transfers, employer/payroll processing, ACH origination, and remote deposit capture.

AI Analysis | Feedback

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Dennis J. Zember, Jr. President and Chief Executive Officer

Dennis J. Zember, Jr. was appointed CEO of Primis Financial in February 2020. Before joining Primis, he worked as a public accountant and then in the private sector for ten years. He previously served as CFO and then CEO of Ameris Bank, where he was instrumental in growing the bank's assets from $1 billion to nearly $17 billion. During his tenure at Ameris Bank, he spearheaded numerous acquisitions and strategic development initiatives, enhancing the company's ability to integrate acquired organizations and implement new ideas effectively.

Matthew A. Switzer Executive Vice President and Chief Financial Officer

Matthew A. Switzer holds a degree in Chemical Engineering from the University of Virginia and an MBA from UNC Chapel Hill. Prior to joining Primis Financial, he served as a Managing Director at Stephens, Inc. for six years, leading a banking team. He also held the position of Managing Director at Keefe, Bruyette & Woods, Inc. from 2005 to 2015. In his role as CFO, he is responsible for all financial and accounting functions at Primis Bank.

Rickey A. Fulk Executive Vice President and President of Primis Bank

Rickey A. Fulk serves as the Executive Vice President and President of Primis Bank. He is described as a seasoned veteran in the industry.

Marie T. Leibson Executive Vice President and Chief Credit Officer

Marie T. Leibson is the Executive Vice President and Chief Credit Officer for Primis Financial Corp. and Primis Bank.

Ann-Stanton C. Gore Executive Vice President and Chief Marketing Officer

Ann-Stanton C. Gore holds the position of Executive Vice President and Chief Marketing Officer for Primis Financial Corp. and Primis Bank.

AI Analysis | Feedback

The key risks to Primis Financial (FRST) include potential Nasdaq delisting, credit risks associated with commercial real estate and business loans, and intense competition impacting its net interest margin.

The most immediate and significant risk facing Primis Financial is the potential delisting of its securities from Nasdaq. This stems from delays in filing annual and quarterly financial reports, which were necessitated by a restatement of financial statements and an ongoing review process with the SEC. The company has appealed the delisting notice and requested a hearing, and it is actively working to file the overdue reports to regain compliance with Nasdaq’s listing requirements.

Another key risk is credit risk, particularly concerning its commercial real estate (CRE) and business loan portfolios. Some of these loans have been on nonaccrual status, indicating potential issues with repayment.

Primis Financial also faces intense competition within the financial services industry. The company competes with larger regional banks and non-bank fintech companies, which can put pressure on its deposit costs and net interest margin (NIM).

AI Analysis | Feedback

The increasing market penetration and sophistication of digital-native challenger banks (neobanks) and specialized online lending platforms pose a clear emerging threat. Neobanks, such as Chime or SoFi, offer compelling, mobile-first banking experiences often with lower fees and higher interest rates, attracting individual customers and small businesses who might otherwise rely on a traditional regional bank like Primis for deposits and basic financial services. Concurrently, specialized online lending platforms (e.g., Rocket Mortgage for residential loans, or various platforms for small business or professional practice financing) provide streamlined, often faster, and competitive alternatives to Primis's diverse loan portfolio, potentially siphoning off key lending opportunities across commercial, real estate, construction, and specialized business financing sectors.

AI Analysis | Feedback

Primis Financial Corp. (symbol: FRST) provides a range of financial services, primarily to individuals and small and medium-sized businesses in Virginia and Maryland. The addressable markets for its main products and services are as follows:

  • Deposits (Checking, NOW, Savings, Money Market Accounts, Certificates of Deposit):
    • In Virginia, the total deposits in all banks amounted to approximately $296 billion in 2024.
    • In Maryland, total deposits held at banks were around $195 billion in 2024.
  • Commercial Real Estate Loans:
    • The total commercial real estate lending volume in Virginia was approximately $19.2 billion in 2024.
    • For Maryland, a specific consolidated market size for commercial real estate loans is not readily available. However, the U.S. commercial real estate mortgage market for income-producing properties is roughly $4.5 trillion, with an additional $467 billion in construction loans nationally. Total commercial real estate mortgage borrowing and lending across the U.S. was estimated at $498 billion in 2024.
  • Small Business Loans (including Small Business Administration loans):
    • In Virginia, the market for small business loans was approximately $14 billion in 2024.
    • In Maryland, small business loans totaled about $10.2 billion in 2024.
  • Residential Mortgage Loans:
    • New home loans booked in Virginia amounted to $35.2 billion in 2024.
    • New home loans booked in Maryland were $23.2 billion in 2024.
  • Cash Management Services:
    • The demand for cash management services in the U.S. is projected to be $1.6 billion in 2025.
  • Other Loan Products (including Construction Loans, Secured Asset-Based Loans, Mortgage Warehouse Lending Products, Financing for Medical, Dental, and Veterinary Businesses, Residential Mortgage, Trust Mortgage, Home Equity Lines of Credit, Secured and Unsecured Personal Loans, Consumer Loans, Life Insurance Premium Financing, and Demand Loans):
    • Market sizes for these specific products in Virginia and Maryland are not available.

AI Analysis | Feedback

Primis Financial (symbol: FRST) anticipates several key drivers for its future revenue growth over the next 2-3 years:

  1. Growth in Mortgage Operations: The company projects significant expansion and profitability from its mortgage division. Primis Mortgage saw closed loans increase and expects annual production to reach approximately $1.6 billion to $2 billion in 2026, up from $1.2 billion in 2025. This growth is supported by increased production from new hires and improved profitability.
  2. Strategic Loan Growth, including Specialized Lending: Primis Financial aims for continued loan growth in its core banking activities and through specialized segments like Panacea Financial. Panacea Financial's loans grew 40% in the 12 months ending September 30, 2024, and its consolidated results are now included. The company also rebuilt earning assets with increased loan sizes in 2025.
  3. Net Interest Margin (NIM) Expansion: Primis Financial expects further improvement in its net interest margin. This is driven by effective management of interest expenses, particularly on deposits, and increasing yields on earning assets through new loan production and the repricing of existing loans. The core net interest margin for the Community Bank improved significantly, and management anticipates further margin expansion into 2026.
  4. Expansion of Digital Platforms and Profitable Deposit Relationships: The company is focused on leveraging its digital capabilities to drive deposit growth and foster profitable deposit relationships within the community bank. This strategy helps manage funding costs and supports overall earning asset growth.

AI Analysis | Feedback

Share Repurchases

  • Primis Financial Corp.'s board of directors approved a stock repurchase program on December 18, 2025, authorizing the repurchase of up to 750,000 shares of its common stock, with the program set to conclude on December 18, 2026.
  • Under a prior repurchase plan, the company acquired 79,549 shares at an average cost of $10.00 per share.
  • In 2025, the company's repurchases of common shares amounted to USD 403.5 thousand.

Share Issuance

  • In March 2026, executive officers received common shares through the conversion of performance-based restricted stock units (PSUs); for instance, CEO Dennis J. Zember Jr. converted 50,964 PSUs into common shares.

Capital Expenditures

  • Primis Financial's latest trailing twelve months (TTM) Capital Expenditure percentage was 2.4%.
  • Over the last five years, the company's median Capital Expenditure percentage was 1.15%.
  • The Capital Expenditure percentage for Primis Financial has fluctuated between a low of 0.23% and a high of 2.4% over the past five years.

Peer Outperformance in Regional Banks

FRST has trailed 79% of its 262 Regional Banks peers over 5Y. Among the peers that beat it are FBP, BPOP and OFG. Regional Banks ranks 8th of 18 industries in Financials by median 5Y return.
Share of Regional Banks constituents that FRST has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
65%
of 281 industry peers · 36.8% return
3Y
30%
of 273 industry peers · 64.9% return
5Y
21%
of 262 industry peers · 8.7% return
Regional Banks peers with revenue growth within 4pp of FRST's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
FRST Primis Financial 6.7% 6.8x 36.8%64.9%8.7% —
FBP First BanCorp 2.9% 10.7x 33.9%101.1%117.2% +109pp
BPOP Popular 2.8% 10.3x 41.4%144.6%117.1% +108pp
OFG OFG Bancorp 4.5% 9.7x 30.7%73.5%113.0% +104pp
SRCE 1st Source 7.5% 11.8x 46.3%95.9%95.9% +87pp
WTFC Wintrust Financial 9.1% 11.1x 19.0%98.3%77.6% +69pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is FRST's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 33.1%75.7%125.1% SPNT 168% · RGA 162% · RNR 141%
Investment Banking & Brokerage 13 -3.9%89.1%93.1% IBKR 305% · SNEX 152% · GS 141%
Diversified Banks 12 30.0%140.4%90.3% CM 144% · RY 129% · JPM 127%
Life & Health Insurance 20 14.3%52.3%75.4% JXN 514% · UNM 224% · FG 188%
Property & Casualty Insurance 42 18.9%76.8%66.8% TRV 178% · PGR 172% · ACGL 168%
Multi-Sector Holdings 3 10.1%53.8%59.4% BRK-B 99% · VOYA 59% · JEF 37%
Multi-line Insurance 9 9.5%71.4%59.4% AIZ 105% · GNW 104% · L 98%
Regional Banks ← 263 30.0%87.5%46.7% CBC 268% · FCNCA 176% · NIC 136%
Insurance Brokers 15 5.5%13.4%33.4% LIFE 287% · ARX 89% · WTW 56%
Financial Exchanges & Data 15 20.6%37.2%27.9% CBOE 183% · VIRT 131% · CME 71%
Asset Management & Custody Banks 83 -5.9%22.8%12.3% VCTR 210% · AAMI 207% · WT 205%
Consumer Finance 30 2.9%81.0%8.1% ENVA 330% · FCFS 130% · ECPG 111%
Commercial & Residential Mortgage Finance 14 -46.5%36.8%2.5% FNMA 327% · FMCC 293% · ACT 158%
Diversified Financial Services 4 -1.6%20.1%-1.1% FRHC 153% · EQH 71%
Specialized Finance 3 15.8%31.5%-19.7% HASI -20% · CACC -24%
Transaction & Payment Processing Services 17 19.3%9.1%-29.4% V 103% · MA 94% · CPAY 83%
Mortgage REITs 35 -18.0%-6.1%-37.2% RITM 36% · DX 17% · AGNC 10%
Diversified Capital Markets 20 -47.1%-8.5%-70.1% LPLA 83% · TW 38% · RIOT -53%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

FRSTAUBTOWNWSBCBHRBBRBSMedian
NamePrimis F.Atlantic.Towne Ba.Wesbanco Burke & .Blue Rid. 
Mkt Price14.6639.9636.6238.6869.893.9937.65
Mkt Cap0.45.63.43.71.30.42.3
Rev LTM1721,5439451,06335984652
Op Inc LTM-------
FCF LTM-43549-378862186
FCF 3Y Avg111,005-268701470
CFO LTM-43574-392972397
CFO 3Y Avg121,020-282801580

Growth & Margins

FRSTAUBTOWNWSBCBHRBBRBSMedian
NamePrimis F.Atlantic.Towne Ba.Wesbanco Burke & .Blue Rid. 
Rev Chg LTM0.9%28.6%27.6%21.7%8.6%-5.4%15.2%
Rev Chg 3Y Avg6.7%31.3%10.4%22.6%52.9%-14.6%16.5%
Rev Chg Q54.9%3.2%24.3%4.1%23.0%-20.7%13.6%
QoQ Delta Rev Chg LTM12.9%0.8%5.6%1.0%5.8%-5.4%3.3%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM-24.8%37.2%-36.9%27.1%27.7%27.7%
CFO/Rev 3Y Avg11.8%85.4%-33.2%21.0%17.1%21.0%
FCF/Rev LTM-25.1%35.6%-35.6%24.1%25.1%25.1%
FCF/Rev 3Y Avg11.6%84.2%-31.6%16.5%15.8%16.5%

Valuation

FRSTAUBTOWNWSBCBHRBBRBSMedian
NamePrimis F.Atlantic.Towne Ba.Wesbanco Burke & .Blue Rid. 
Mkt Cap0.45.63.43.71.30.42.3
P/S2.13.73.63.53.64.23.6
P/Op Inc-------
P/EBIT-------
P/E6.810.616.310.313.337.611.9
P/CFO-8.59.8-9.513.315.19.8
Total Yield17.5%13.6%8.0%13.5%10.4%17.7%13.6%
Dividend Yield2.8%4.0%1.9%3.8%2.9%15.1%3.3%
FCF Yield 3Y Avg4.0%20.7%-9.3%6.4%7.3%7.3%
D/E1.20.30.10.60.50.50.5
Net D/E0.30.1-0.40.3-0.00.30.2

Returns

FRSTAUBTOWNWSBCBHRBBRBSMedian
NamePrimis F.Atlantic.Towne Ba.Wesbanco Burke & .Blue Rid. 
1M Rtn-5.3%4.8%3.4%4.2%1.0%1.8%2.6%
3M Rtn-9.5%-5.0%-2.2%-6.4%-4.5%8.1%-4.8%
6M Rtn1.8%7.6%6.8%15.4%11.9%14.0%9.8%
12M Rtn37.8%26.7%17.7%31.9%18.7%5.0%22.7%
3Y Rtn66.0%41.5%60.2%69.3%75.0%101.0%67.7%
1M Excs Rtn-2.4%7.8%6.1%7.5%3.4%4.3%5.2%
3M Excs Rtn-8.9%-3.4%-0.6%-5.5%-3.2%8.7%-3.3%
6M Excs Rtn-3.0%2.8%2.0%10.6%7.1%9.2%4.9%
12M Excs Rtn26.7%14.6%4.8%20.7%8.5%-7.9%11.5%
3Y Excs Rtn-10.3%-28.9%-11.6%-1.3%-8.9%-27.0%-10.9%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Primis Bank158124130120 
Primis Mortgage4030206 
Other26-6-7-5 
Single Segment    105
Total224147144120105


Net Income by Segment
$ Mil2025202420232022
Primis Bank38-13-122
Other18-8-7-5
Primis Mortgage550-3
Total61-16-814


Assets by Segment
$ Mil2025202420232022
Primis Bank4,0233,5803,7823,526
Primis Mortgage193996631
Other-1681189
Total4,0473,6903,8573,567


Price Behavior

Price Behavior
Market Price$14.56 
Market Cap ($ Bil)0.4 
First Trading Date12/29/2006 
Distance from 52W High-12.7% 
   50 Days200 Days
DMA Price$15.54$14.75
DMA Trenddownup
Distance from DMA-6.3%-1.3%
 3M1YR
Volatility21.3%26.5%
Downside Capture55.8028.09
Upside Capture11.9767.05
Correlation (S&P 500)14.4%19.4%
FRST Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta-0.020.360.360.230.370.88
Up Beta-3.62-0.630.31-0.250.330.90
Down Beta-0.300.030.13-0.210.040.97
Up Capture-5%34%21%45%58%60%
Bmk +ve Days12182862130427
Stock +ve Days11213270137373
Down Capture50%91%72%57%38%93%
Bmk -ve Days10253664121325
Stock -ve Days11213154109354

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FRST
FRST39.6%26.5%1.22-
Sector ETF (XLF)11.1%15.2%0.4744.0%
Equity (SPY)9.5%13.6%0.4121.5%
Gold (GLD)3.6%28.7%0.11-0.7%
Commodities (DBC)37.7%21.2%1.40-29.4%
Real Estate (VNQ)12.0%14.2%0.5529.6%
Bitcoin (BTCUSD)-20.8%43.3%-0.425.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FRST
FRST3.5%31.0%0.14-
Sector ETF (XLF)9.1%18.4%0.3656.3%
Equity (SPY)11.3%17.3%0.4842.4%
Gold (GLD)17.5%19.1%0.74-1.7%
Commodities (DBC)8.0%19.6%0.292.6%
Real Estate (VNQ)1.2%18.9%-0.0540.4%
Bitcoin (BTCUSD)5.9%51.5%0.2917.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FRST
FRST4.2%34.6%0.21-
Sector ETF (XLF)13.3%22.1%0.5465.2%
Equity (SPY)14.9%18.0%0.7048.9%
Gold (GLD)12.0%16.5%0.59-3.6%
Commodities (DBC)7.6%18.1%0.3315.3%
Real Estate (VNQ)5.7%20.7%0.2349.2%
Bitcoin (BTCUSD)61.3%66.2%1.0114.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.6 Mil
Short Interest: % Change Since 9302026-4.0%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest6.1 days
Basic Shares Quantity24.7 Mil
Short % of Basic Shares2.6%

Earnings Returns History

Updated 8/31/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/23/2026-2.2%1.3%3.6%
4/23/20263.0%5.3%3.7%
1/29/2026-0.7%4.2%-0.9%
10/23/202510.2%10.2%13.9%
7/24/20250.3%-4.3%-3.7%
4/29/2025-1.2%5.0%15.5%
1/28/2025-7.3%-4.1%-7.5%
10/24/2024-3.8%-4.8%7.9%
...
SUMMARY STATS   
# Positive141312
# Negative91011
Median Positive2.2%4.2%6.7%
Median Negative-2.2%-3.5%-2.5%
Max Positive10.2%22.4%28.3%
Max Negative-7.3%-16.9%-15.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/23/2026-2.2%1.3%3.6%
4/23/20263.0%5.3%3.7%
1/29/2026-0.7%4.2%-0.9%
10/23/202510.2%10.2%13.9%
7/24/20250.3%-4.3%-3.7%
4/29/2025-1.2%5.0%15.5%
1/28/2025-7.3%-4.1%-7.5%
10/24/2024-3.8%-4.8%7.9%
7/25/20242.3%-3.3%-4.8%
4/25/2024-4.9%-3.6%1.0%
1/26/20244.1%1.3%-2.0%
10/26/20235.7%22.4%28.3%
4/28/20230.6%-16.9%-15.4%
1/26/2023-2.4%1.5%-1.4%
10/27/20221.7%-2.6%-2.2%
7/28/20221.7%3.3%0.7%
4/28/2022-1.0%-3.3%-2.5%
1/27/20222.3%-0.3%-3.0%
10/28/20213.5%6.8%5.6%
7/29/2021-0.1%2.3%-0.6%
4/29/20210.7%3.5%4.1%
1/28/20210.7%5.3%22.2%
10/26/20202.1%-3.5%13.7%
SUMMARY STATS   
# Positive141312
# Negative91011
Median Positive2.2%4.2%6.7%
Median Negative-2.2%-3.5%-2.5%
Max Positive10.2%22.4%28.3%
Max Negative-7.3%-16.9%-15.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202503/16/202610-K
09/30/202511/10/202510-Q
06/30/202508/11/202510-Q
03/31/202505/14/202510-Q
12/31/202404/29/202510-K
09/30/202412/11/202410-Q
06/30/202412/11/202410-Q
03/31/202410/25/202410-Q
12/31/202310/15/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/15/202310-K
09/30/202211/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202503/16/202610-K
09/30/202511/10/202510-Q
06/30/202508/11/202510-Q
03/31/202505/14/202510-Q
12/31/202404/29/202510-K
09/30/202412/11/202410-Q
06/30/202412/11/202410-Q
03/31/202410/25/202410-Q
12/31/202310/15/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/15/202310-K
09/30/202211/09/202210-Q
06/30/202208/09/202210-Q
03/31/202205/10/202210-Q
12/31/202103/14/202210-K
09/30/202111/09/202110-Q
06/30/202108/09/202110-Q
03/31/202105/10/202110-Q
12/31/202003/16/202110-K
09/30/202011/09/202010-Q
06/30/202008/10/202010-Q
03/31/202005/08/202010-Q
12/31/201903/16/202010-K
09/30/201911/07/201910-Q

Recent Forward Guidance

Updated 11/2/2026

Latest: Q2 2026 Earnings Reported 7/23/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 SBA Gain on Sale IncomeReported0.50 Mil0.55 Mil0.60 Mil  RaisedGuidance: 0.55 Mil for Q2 2026
2026 Effective Tax RateReported 22.0%  0.2%RaisedGuidance: 21.8% for 2026


Prior: Q1 2026 Earnings Reported 4/23/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 SBA Gain on Sale IncomeReported0.50 Mil0.55 Mil0.60 Mil   
2026 Noninterest Income ImprovementReported 1.20 Mil    
2026 Effective Tax RateReported 21.8%    

Q4 2025 Earnings Reported 1/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Core Operating Expense BurdenReported23.00 Mil23.50 Mil24.00 Mil   

Q3 2025 Earnings Reported 10/23/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Deposit Cost BetaReported 0.7    

Insider Activity

Updated 9/10/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Johnson, Eric Alan DirectBuy910202615.951,56524,962836,530Form
2Johnson, Eric Alan DirectBuy903202615.601,28019,968793,759Form
3Weichert, Margaret M DirectBuy903202615.751001,57511,560Form
4Weichert, Margaret M DirectBuy824202616.001101,76010,144Form
5Weichert, Margaret M DirectBuy810202616.322003,2648,552Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Johnson, Eric Alan DirectBuy910202615.951,56524,962836,530Form
2Johnson, Eric Alan DirectBuy903202615.601,28019,968793,759Form
3Weichert, Margaret M DirectBuy903202615.751001,57511,560Form
4Weichert, Margaret M DirectBuy824202616.001101,76010,144Form
5Weichert, Margaret M DirectBuy810202616.322003,2648,552Form
6Garrett, F L Iii DirectBuy611202615.241552,362736,686Form
7Garrett, F L Iii DirectBuy609202615.032503,758724,206Form
8Garrett, F L Iii DirectBuy608202615.001251,875719,010Form
9Garrett, F L Iii DirectBuy608202614.741251,843704,944Form
10Garrett, F L Iii DirectBuy608202614.504506,525691,418Form
11Garrett, F L Iii DirectBuy608202614.752503,688696,702Form
12Garrett, F L Iii DirectBuy608202614.303505,005671,871Form
13Gamble, Scott R DirectBuy604202614.591,71124,97045,241Form
14Sharma, AnuragEVP, Chief Information OfficerDirectBuy603202614.406949,9979,997Form
15Gamble, Scott R DirectBuy602202614.391,38919,98419,984Form
16Garrett, F L Iii DirectBuy601202614.402503,600671,530Form
17Garrett, F L Iii DirectBuy601202614.502503,625672,568Form
18Garrett, F L Iii DirectBuy601202614.512503,628669,404Form
19Garrett, F L Iii DirectBuy601202614.493545,129664,859Form
20Garrett, F L Iii DirectBuy601202614.392904,175655,404Form
21Clagett, Robert Yates DirectBuy520202614.001,42119,894751,310Form
22Clagett, Robert Yates DirectBuy519202614.161,41019,966739,775Form
23Biagas, John Fitzgerald DirectBuy313202612.801,92524,6401,176,883Form
24Biagas, John Fitzgerald DirectBuy312202612.751,55019,7681,148,075Form
25Diaz, Deborah DirectBuy312202612.771,05013,408269,713Form
26Cook, William Rand DirectBuy211202614.171,77025,081654,693Form
27Cook, William Rand DirectBuy206202614.261,41020,113633,825Form
28Switzer, Matthew AlanEVP, CFODirectBuy204202614.062,50035,1501,352,938Form
29Diaz, Deborah DirectBuy1212202512.341,60819,849247,773Form
30Clagett, Robert Yates DirectBuy1113202510.982,26824,898558,045Form
31Clagett, Robert Yates DirectBuy1112202510.841,83019,842526,572Form
32Johnson, Eric Alan DirectBuy1112202510.702,32024,827427,838Form
33Johnson, Eric Alan DirectBuy911202511.001,81819,998414,260Form

Investor Activity (13F)

Updated Nov 6, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Patriot Financial Partners GP II, L.P.$16.2 Mil4.2%12Hold13F
Active Manager
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Patriot Financial Partners GP II, L.P.$16.2 Mil4.2%12Hold13F
Core Cache Last Updated: 11/5/2026