Insider Buying: Primis Financial Corp. (NASDAQ:FRST) Director Purchases 10,000 Shares of Stock

Primis Financial Corp. (NASDAQ:FRST) Director John Fitzgerald Biagas acquired 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $9.97 per share, with a total value of $99,700.00. Following the acquisition, the director now owns 88,469 shares in the company, valued at approximately $882,035.93. This trade represents a 12.74 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

John Fitzgerald Biagas also recently made the following trade(s):

• On Monday, February 3rd, John Fitzgerald Biagas acquired 1,805 shares of Primis Financial stock. The stock was acquired at an average price of $11.04 per share, with a total value of $19,927.20.

Primis Financial Trading Down 1.0 %

NASDAQ FRST traded down $0.10 on Thursday, hitting $9.84. The company’s stock had a trading volume of 34,911 shares, compared to its average volume of 66,700. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. Primis Financial Corp. has a 52-week low of $9.52 and a 52-week high of $13.52. The firm has a market cap of $243.27 million, a P/E ratio of -32.80 and a beta of 0.78. The company’s 50-day simple moving average is $10.84 and its 200 day simple moving average is $11.57.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.76). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.05%. Research analysts predict that Primis Financial Corp. will post 1.4 EPS for the current fiscal year.

Primis Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Wednesday, February 12th. Primis Financial’s dividend payout ratio (DPR) is -133.33%.

Institutional Investors Weigh In On Primis Financial

Hedge funds have recently added to or reduced their stakes in the stock. Foundry Partners LLC lifted its holdings in shares of Primis Financial by 14.5% during the third quarter. Foundry Partners LLC now owns 393,575 shares of the company’s stock valued at $4,794,000 after purchasing an additional 49,735 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Primis Financial by 2.3% during the third quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock valued at $5,679,000 after purchasing an additional 10,656 shares in the last quarter. Barclays PLC lifted its holdings in shares of Primis Financial by 243.8% during the third quarter. Barclays PLC now owns 27,441 shares of the company’s stock valued at $334,000 after purchasing an additional 19,460 shares in the last quarter. State Street Corp lifted its holdings in shares of Primis Financial by 2.6% during the third quarter. State Street Corp now owns 423,407 shares of the company’s stock valued at $5,157,000 after purchasing an additional 10,923 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Primis Financial by 94.3% during the fourth quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock valued at $826,000 after purchasing an additional 34,394 shares in the last quarter. 74.96% of the stock is owned by institutional investors.

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.