Primis Financial Corp. (NASDAQ:FRST) Director Acquires $45,091.20 in Stock

Primis Financial Corp. (NASDAQ:FRST) Director F L. Garrett III acquired 3,660 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $12.32 per share, for a total transaction of $45,091.20. Following the completion of the purchase, the director now directly owns 41,169 shares of the company’s stock, valued at $507,202.08. The trade was a 9.76 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Primis Financial Price Performance

Shares of NASDAQ FRST traded down $0.05 during midday trading on Monday, reaching $12.40. 18,685 shares of the company were exchanged, compared to its average volume of 65,783. The stock’s 50-day moving average price is $12.08 and its 200-day moving average price is $11.61. The stock has a market cap of $306.53 million, a P/E ratio of 13.24 and a beta of 0.78. Primis Financial Corp. has a one year low of $9.52 and a one year high of $13.69. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.24.

Primis Financial (NASDAQ:FRST) last posted its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The company had revenue of $66.40 million for the quarter. Primis Financial had a return on equity of 3.28% and a net margin of 6.00%. During the same quarter in the previous year, the firm posted $0.32 earnings per share. On average, sell-side analysts anticipate that Primis Financial Corp. will post 0.5 earnings per share for the current fiscal year.

Primis Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.23%.

Analyst Ratings Changes

Separately, Stephens decreased their target price on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On Primis Financial

A number of hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its holdings in shares of Primis Financial by 1.1% during the second quarter. American Century Companies Inc. now owns 130,093 shares of the company’s stock worth $1,363,000 after purchasing an additional 1,410 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Primis Financial by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 59,324 shares of the company’s stock worth $723,000 after purchasing an additional 2,708 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of Primis Financial by 1.9% during the third quarter. Segall Bryant & Hamill LLC now owns 182,617 shares of the company’s stock worth $2,224,000 after purchasing an additional 3,346 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Primis Financial by 5.4% during the third quarter. Victory Capital Management Inc. now owns 78,000 shares of the company’s stock worth $950,000 after purchasing an additional 4,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Primis Financial by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 148,121 shares of the company’s stock valued at $1,552,000 after buying an additional 4,001 shares during the period. Institutional investors and hedge funds own 74.96% of the company’s stock.

Primis Financial Company Profile

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.