F L. Garrett III Acquires 3,660 Shares of Primis Financial Corp. (NASDAQ:FRST) Stock

Primis Financial Corp. (NASDAQ:FRST) Director F L. Garrett III acquired 3,660 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $12.32 per share, with a total value of $45,091.20. Following the purchase, the director now directly owns 41,169 shares in the company, valued at $507,202.08. This represents a 9.76 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Primis Financial Stock Down 1.8 %

Shares of NASDAQ:FRST opened at $12.24 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 0.99. Primis Financial Corp. has a 52-week low of $9.52 and a 52-week high of $13.69. The business’s 50 day simple moving average is $12.11 and its two-hundred day simple moving average is $11.64. The firm has a market cap of $302.57 million, a P/E ratio of 13.24 and a beta of 0.78.

Primis Financial (NASDAQ:FRST) last issued its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The firm had revenue of $66.40 million during 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 prior year, the company posted $0.32 EPS. As a group, research analysts forecast that Primis Financial Corp. will post 0.5 EPS for the current fiscal year.

Primis Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, November 8th.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Primis Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fourthstone LLC increased its holdings in Primis Financial by 271.5% during the 3rd quarter. Fourthstone LLC now owns 247,194 shares of the company’s stock worth $3,011,000 after purchasing an additional 180,655 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Primis Financial during the third quarter valued at approximately $828,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Primis Financial by 91.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,028 shares of the company’s stock worth $1,523,000 after buying an additional 59,746 shares in the last quarter. Foundry Partners LLC raised its position in Primis Financial by 14.5% in the 3rd quarter. Foundry Partners LLC now owns 393,575 shares of the company’s stock valued at $4,794,000 after buying an additional 49,735 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Primis Financial by 22.6% during the 2nd quarter. Acadian Asset Management LLC now owns 178,312 shares of the company’s stock valued at $1,867,000 after acquiring an additional 32,896 shares in the last quarter. 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.