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In a challenging economic climate, Southern National Bancorp’s stock (FRST) has recorded a new 52-week low, dipping to $7.84, just slightly above its bottom of $7.75. The stock currently offers a 4.8% dividend yield, having maintained consistent dividend payments for 14 consecutive years. This latest price level reflects a significant downturn from the company’s performance, with the stock down 27.84% year-to-date and trading well below its 52-week high of $13.52. Investors are closely monitoring FRST as it navigates through the prevailing market conditions that have contributed to this decline, weighing the potential for recovery against ongoing financial pressures. According to InvestingPro analysis, the stock appears slightly overvalued at current levels, with additional insights and detailed valuation metrics available in the comprehensive Pro Research Report, one of 1,400+ deep-dive analyses available to subscribers.
In other recent news, Primis Financial Corp. reported first-quarter earnings that fell short of analyst expectations. The company posted adjusted earnings per share of $0.14, missing the consensus estimate of $0.26. However, revenue slightly exceeded expectations, coming in at $34.14 million compared to the anticipated $33.49 million, marking a 0.3% increase year-over-year. Net interest income saw a marginal rise to $26.4 million, while the net interest margin improved to 3.15% from the previous quarter’s 2.90%. Despite these gains, noninterest income decreased to $7.8 million, primarily due to the absence of a significant gain from a previous sale. Mortgage banking income showed an upward trend, increasing to $5.6 million from $5.1 million sequentially. Primis Financial’s total deposits slightly decreased to $3.16 billion as of March 31, 2025. The company declared a quarterly dividend of $0.10 per share. Additionally, Primis Financial moved its consumer loan portfolio back to held for investment, resulting in a $1.9 million loan loss provision for the quarter.
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