Primis Financial (FRST)
Runs community banking plus healthcare, warehouse, and mortgage platforms.
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Operates Primis Bank and Primis Mortgage across a Virginia, Maryland, and Greater Washington, D.C. footprint. Revenue is shaped by deposits, loans, mortgage banking, digital deposits, Panacea healthcare finance, and mortgage warehouse lending, while market-area exposure and digital-bank controls are current operating dependencies.
Operates through Primis Bank, a Virginia state-chartered bank, and Primis Mortgage. Primis Bank gathers deposits, makes commercial, real estate, construction, consumer, and residential mortgage loans, and reaches customers through branches, mobile apps, online banking, digital deposits, Panacea Financial, and Mortgage Warehouse lending.
Focuses on Virginia, Maryland, and the Greater Washington, D.C. market, with credit exposure tied to surrounding Mid-Atlantic communities. Panacea serves medical, dental, and veterinary professionals nationally, while Mortgage Warehouse funds residential mortgage originators and Primis Mortgage contributes mortgage banking income.
Execution depends on attracting deposits, pricing loans, underwriting specialty credit, and maintaining digital-bank processing controls. Recent portfolio shaping includes the runoff of retained life premium finance loans, making the current mix more centered on community banking, healthcare finance, mortgage warehouse lending, and residential mortgage origination.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jun 25, 2026 | Raymond James | Initiate | Rating: —Target: — | Target: $19 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $10.1M · Total debt $448.1M · Total assets $4.35B · Shareholders' equity $433.8M
- Revenue
- $78.4M
- Operating income
- $12.1M
- Net income
- $9.4M
HistoryDividendAnnual yield
| Institutions | ≈ 88.88% | 22.02M shares | |
|---|---|---|---|
| 147 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 3.62% | 896.9K shares | |
| 19 holders · as of Sep 10, 2026 | |||
| Other | ≈ 7.50% | 1.86M shares | |
| remainder | |||
24.77M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.94% | 2.46M | as of Jun 30, 2026 |
North Reef Capital Management LPInstitution | 4.95% | 1.23M | as of Jun 30, 2026 |
Patriot Financial Partners GP Ii, L.P.Institution | 4.91% | 1.22M | as of Jun 30, 2026 |
AllianceBernstein L.P.Institution | 4.83% | 1.20M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 4.30% | 1.06M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 9, 2026 | Eric Alan Johnson | director | +1,565 | $15.95 |
| Sep 1, 2026 | Eric Alan Johnson | director | +1,280 | $15.60 |
| Sep 1, 2026 | Margaret M. Weichert | director | +100 | $15.75 |
| Aug 20, 2026 | Margaret M. Weichert | director | +110 | $16.00 |
| Aug 6, 2026 | Margaret M. Weichert | director | +200 | $16.32 |
- Atlantic Union Bankshares
Virginia-centered regional bank with VA/MD/DC overlap
- United Bankshares
Mid-Atlantic bank competing in deposits, loans, and mortgage
- TowneBank
Virginia community bank with mortgage and business-banking overlap
- Eagle Bancorp
D.C.-area commercial bank focused on CRE and business clients
- Customers Bancorp
Branch-light bank overlapping in warehouse lending and digital deposits
- Burke & Herbert Financial Services
Greater Washington community bank competing for local deposits
- Live Oak Bancshares
National healthcare-practice lender overlapping Panacea
- Rocket Companies
Scaled mortgage platform competing with Primis Mortgage
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Primis Financial | $15.58 | −1.46% | $393.3M | 7.3 | 8.9 | 1.3 | +44.2% |
| Atlantic Union Bankshares | $38.44 | −0.57% | $5.49B | 11.5 | 9.9 | 2.5 | −3.5% |
| United Bankshares | $46.29 | −0.53% | $6.41B | 12.7 | 12.3 | 3.6 | +6.0% |
| TowneBank | $36.21 | −0.43% | $3.35B | 10.2 | 10.8 | 2.6 | +18.5% |
| Eagle Bancorp | $28.05 | +0.11% | $854.5M | — | 14.9 | 1.4 | −1.5% |
| Customers Bancorp | $77.14 | −0.27% | $2.62B | 9.4 | 8.6 | 1.8 | +12.4% |
| Burke & Herbert Financial Services | $69.29 | −0.23% | $1.40B | 11.1 | 8.2 | 3.2 | +24.6% |
| Live Oak Bancshares | $37.45 | −1.12% | $1.75B | 13.3 | 10.3 | 1.6 | +10.0% |
| Rocket Companies | $12.14 | −4.75% | $35.98B | 87.3 | 17.0 | 3.7 | +113.7% |
| Median | 11.5 | 10.6 | 2.5 | +11.2% |