Is Primis Financial Corp. overvalued or undervalued?

As of 19 September 2025, the valuation grade for Primis Financial Corp. has moved from fair to expensive, indicating a shift towards overvaluation. The company appears overvalued given its P/E ratio of 40, which is significantly higher than peers like Bank7 Corp. at 10.50 and Southern First Bancshares, Inc. at 16.87. Additionally, the PEG ratio of 0.11 suggests that the stock is not priced appropriately relative to its growth potential, while the Price to Book Value of 0.64 indicates a discount compared to its book value.
In comparison to the S&P 500, Primis Financial Corp. has underperformed across multiple time frames, with a YTD return of -8.75% compared to the index's 13.31%, and a 1-year return of -15.22% against 16.64% for the S&P 500. This consistent underperformance reinforces the view that the stock is overvalued in the current market environment.