Corbyn Investment Management Inc. MD Trims Holdings in Primis Financial Corp. (NASDAQ:FRST)

Corbyn Investment Management Inc. MD reduced its stake in Primis Financial Corp. (NASDAQ:FRST) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 374,304 shares of the company’s stock after selling 30,881 shares during the quarter. Primis Financial comprises approximately 2.2% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 16th largest position. Corbyn Investment Management Inc. MD’s holdings in Primis Financial were worth $4,739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FRST. Anchor Investment Management LLC purchased a new stake in Primis Financial during the fourth quarter valued at approximately $127,000. SG Americas Securities LLC bought a new position in Primis Financial in the 4th quarter worth $140,000. Citigroup Inc. grew its holdings in Primis Financial by 112.1% during the third quarter. Citigroup Inc. now owns 45,619 shares of the company’s stock valued at $372,000 after purchasing an additional 24,111 shares during the period. Finally, ELCO Management Co. LLC increased its position in Primis Financial by 77.0% in the third quarter. ELCO Management Co. LLC now owns 55,632 shares of the company’s stock worth $453,000 after buying an additional 24,210 shares in the last quarter. 74.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Charles A. Kabbash bought 3,390 shares of the stock in a transaction on Tuesday, March 12th. The stock was acquired at an average cost of $12.51 per share, for a total transaction of $42,408.90. Following the acquisition, the director now owns 76,183 shares of the company’s stock, valued at $953,049.33. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought 7,500 shares of company stock worth $91,631 in the last ninety days. 11.08% of the stock is owned by company insiders.

Primis Financial Trading Down 4.3 %

NASDAQ FRST traded down $0.46 during trading hours on Friday, hitting $10.23. 44,487 shares of the company were exchanged, compared to its average volume of 78,234. The stock has a market cap of $252.48 million, a PE ratio of 11.58 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $11.72 and a 200 day moving average price of $11.20. Primis Financial Corp. has a 52 week low of $7.01 and a 52 week high of $13.69.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.07. Primis Financial had a net margin of 8.73% and a return on equity of 5.90%. The company had revenue of $39.24 million during the quarter, compared to analysts’ expectations of $36.17 million. Analysts forecast that Primis Financial Corp. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, TheStreet upgraded Primis Financial from a “c” rating to a “b” rating in a research note on Friday, January 26th.

Primis Financial 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.