Primis Financial (NASDAQ:FRST) vs. SouthState (NASDAQ:SSB) Head-To-Head Analysis

Primis Financial (NASDAQ:FRSTGet Rating) and SouthState (NASDAQ:SSBGet Rating) are both finance companies, but which is the better business? We will compare the two businesses based on the strength of their earnings, profitability, dividends, analyst recommendations, risk, valuation and institutional ownership.

Profitability

This table compares Primis Financial and SouthState’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Primis Financial 21.67% 6.96% 0.84%
SouthState 30.19% 10.33% 1.19%

Analyst Ratings

This is a breakdown of current ratings and recommmendations for Primis Financial and SouthState, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Primis Financial 0 0 0 0 N/A
SouthState 0 1 3 0 2.75

SouthState has a consensus target price of $87.94, indicating a potential upside of 12.32%. Given SouthState’s higher possible upside, analysts clearly believe SouthState is more favorable than Primis Financial.

Dividends

Primis Financial pays an annual dividend of $0.40 per share and has a dividend yield of 3.0%. SouthState pays an annual dividend of $1.96 per share and has a dividend yield of 2.5%. Primis Financial pays out 37.0% of its earnings in the form of a dividend. SouthState pays out 32.5% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. SouthState has raised its dividend for 10 consecutive years.

Earnings and Valuation

This table compares Primis Financial and SouthState’s gross revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
Primis Financial $124.38 million 2.62 $31.25 million $1.08 12.24
SouthState $1.44 billion 4.11 $475.54 million $6.04 12.96

SouthState has higher revenue and earnings than Primis Financial. Primis Financial is trading at a lower price-to-earnings ratio than SouthState, indicating that it is currently the more affordable of the two stocks.

Risk and Volatility

Primis Financial has a beta of 0.93, meaning that its stock price is 7% less volatile than the S&P 500. Comparatively, SouthState has a beta of 0.81, meaning that its stock price is 19% less volatile than the S&P 500.

Insider & Institutional Ownership

67.9% of Primis Financial shares are owned by institutional investors. Comparatively, 86.2% of SouthState shares are owned by institutional investors. 10.6% of Primis Financial shares are owned by company insiders. Comparatively, 1.9% of SouthState shares are owned by company insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a stock is poised for long-term growth.

Summary

SouthState beats Primis Financial on 13 of the 16 factors compared between the two stocks.

About Primis Financial (Get Rating)

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits. The company also offers commercial business and real estate, construction, secured asset based, small business administration, mortgage warehouse lending products, as well as financing for medical, dental, and veterinary businesses; residential mortgage, trust mortgage, home equity lines of credit, secured and unsecured personal, and consumer loans, as well as life insurance premium financing and demand loans. It also offers cash management services comprising investment/sweep, zero balance, and controlled disbursement accounts; and wire transfer, employer/payroll processing, night depository, depository transfer, merchant, ACH origination, and remote deposit capture services. In addition, the company provides debit cards, ATM services, notary services, and mobile and online banking. As of December 31, 2021, it operated forty full-service branches in Virginia and Maryland. The company was formerly known as Southern National Bancorp of Virginia, Inc. and changed its name to Primis Financial Corp. Primis Financial Corp. was founded in 2004 and is based in McLean, Virginia.

About SouthState (Get Rating)

SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits. The company also offers commercial real estate loans, residential real estate loans, commercial, and industrial loans, as well as consumer loans, including auto, boat, and personal installment loans. In addition, it provides debit card, mobile and funds transfer products, and treasury management services comprising merchant, automated clearing house, lock-box, remote deposit capture, and other treasury services. Further, the company offers safe deposit boxes, bank money orders, wire transfer, brokerage services, and alternative investment products, including annuities, mutual funds, and trust and asset management services; and credit cards, letters of credit, and home equity lines of credit. As of December 31, 2021, it served customers through 281 branches in Florida, South Carolina, Alabama, Georgia, North Carolina, and Virginia. SouthState Corporation also serves its customers through online, mobile, and telephone banking platforms. The company was formerly known as First Financial Holdings, Inc. and changed its name to SouthState Corporation in July 2013. SouthState Corporation was founded in 1933 and is headquartered in Winter Haven, Florida.

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