FRST screens cheap with strong growth and steady insider buying, but its $397M market cap sits just below the engine's investable-universe minimum, and both the momentum and asymmetry gates have failed with the stock already near its analyst target.
Thesis pillars
- Attractive Valuation Cheap Multiple—
- Strong Revenue Earnings Growth—
- Market Cap Below Investable Threshold—
- +2 more pillars — see the Why tab for full reasoning
Primis Financial Corp. (FRST) Stock Analysis
Inst Constrain edge
Financial Services · Banks - Regional
Hold if already holding. Not a fresh buy at $15.51, but acceptable to hold if already in. Reason: Market cap $385M below $400M minimum.
Primis Financial Corp. is the bank holding company for Primis Bank, a Virginia state-chartered community bank operating 24 full-service branches in Virginia and Maryland as of December 31, 2025, alongside a nationwide digital banking platform, mortgage warehouse lending, and its... Read more
Hold if already holding. Not a fresh buy at $15.51, but acceptable to hold if already in. Reason: Market cap $385M below $400M minimum. Chart setup: No clear chart pattern; technical signals are mixed. Market cap $385M below $400M minimum. Not in investable universe. Score 6.8/10, moderate confidence.
Passes 6/8 gates (clean insider activity, no SEC red flags, news events none recent, earnings proximity 16d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio. Suitability: aggressive.
About Primis Financial Corp.
About Primis Financial Corp.
Primis Financial Corp. reported $4.0 billion in total assets, $3.3 billion in total loans, and $3.4 billion in total deposits as of December 31, 2025, operated through Primis Bank, a Virginia state-chartered bank with 24 branches in Virginia and Maryland. The bank also runs a nationwide digital deposit platform, a healthcare-focused Panacea Financial lending division, and mortgage warehouse lending. Commercial real estate loans made up 37% of the loan portfolio, and real estate-secured loans overall made up approximately 61%.
Primis earns net interest income by taking deposits through its branch network, digital platform, and deposit intermediaries and deploying them into commercial real estate, commercial business, SBA, and consumer loans, supplemented by fee income from residential mortgage origination and sales in the secondary market. Primis Mortgage Company funded approximately $1.2 billion in loan production in 2025, up from about $800 million in 2024, while the Panacea Financial division, focused on medical, dental, and veterinary borrowers, ended 2025 with $544 million in loans and $128 million in deposits. Mortgage warehouse lending, which provides short-term funding lines to independent mortgage originators, held approximately $1.2 billion in approved lines and $318 million in outstanding balances with 125 customers as of year-end 2025. The bank's digital deposit platform, including its V1BE service, ended 2025 with $992 million in deposits, 82% of which had remained with the platform for more than two years.
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Primis is entering a credit cycle inflection point rather than a stable asset-quality plateau: nonperforming assets rose to $87 million, or 3% of total loans and OREO, as of December 31, 2025, a $70 million, or 417%, increase from just $17 million, or 1%, a year earlier. With $1.2 billion of commercial real estate loans and $132 million of construction and land development loans on the balance sheet, concentrated in a bank whose real estate-secured exposure spans 61% of total loans, a continuation of this nonperforming-asset trajectory, rather than a one-time normalization, would be the clearest signal that Primis's credit administration practices are being tested by its real estate concentration.
From Primis Financial Corp.'s most recent 10-K filing, extracted July 26, 2026.
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Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker·2 ceiling hits
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
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Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $15.51, but acceptable to hold if already in. Reason: Market cap $385M below $400M minimum. Chart setup: No clear chart pattern; technical signals are mixed. Market cap $385M below $400M minimum. Not in investable universe. Target $16.31 (+5.2%), stop $14.87 (−4.3%), A.R:R 1.0:1. Score 6.8/10, moderate confidence.
Take-profit target: $16.31 (+5.2% upside). Target $16.31 (+5.2%), stop $14.87 (−4.3%), A.R:R 1.0:1. Stop-loss: $14.87.
Market cap $385M below $400M minimum.
Primis Financial Corp. trades at a P/E of 7.2 (forward 7.9). TrendMatrix value score: 8.9/10. Verdict: Hold.
10 analysts cover FRST with a consensus score of 4.3/5. Average price target: $19.
What does Primis Financial Corp. do?Primis Financial Corp. is the bank holding company for Primis Bank, a Virginia state-chartered community bank operating...
Primis Financial Corp. is the bank holding company for Primis Bank, a Virginia state-chartered community bank operating 24 full-service branches in Virginia and Maryland as of December 31, 2025, alongside a nationwide digital banking platform, mortgage warehouse lending, and its Panacea Financial healthcare-focused lending division. As of December 31, 2025, Primis had $4.0 billion in total assets, $3.3 billion in total loans, and $3.4 billion in total deposits. Real estate-secured loans, including commercial real estate, construction, and residential mortgages, made up approximately 61% of the