Primis Financial (NASDAQ:FRST) Director Acquires $19,894.00 in Stock

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett purchased 1,421 shares of the stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $14.00 per share, for a total transaction of $19,894.00. Following the acquisition, the director owned 53,665 shares of the company’s stock, valued at approximately $751,310. The trade was a 2.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Primis Financial Trading Down 0.3%

Shares of FRST stock opened at $14.33 on Friday. Primis Financial Corp. has a 12 month low of $9.19 and a 12 month high of $14.97. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $13.77 and its two-hundred day moving average is $13.14. The company has a market cap of $354.95 million, a PE ratio of 6.76 and a beta of 0.76.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. Primis Financial had a return on equity of 4.98% and a net margin of 19.71%.The company had revenue of $45.63 million for the quarter, compared to the consensus estimate of $43.87 million. Equities analysts predict that Primis Financial Corp. will post 1.65 EPS for the current year.

Primis Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a $0.10 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.8%. Primis Financial’s dividend payout ratio (DPR) is presently 18.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FRST shares. Keefe, Bruyette & Woods started coverage on shares of Primis Financial in a research note on Monday, April 20th. They issued an “outperform” rating and a $17.00 price objective on the stock. Weiss Ratings upgraded shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Primis Financial from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Primis Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Investors Weigh In On Primis Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Patriot Financial Partners GP II L.P. bought a new position in shares of Primis Financial during the third quarter valued at $12,796,000. North Reef Capital Management LP bought a new position in shares of Primis Financial during the third quarter valued at $10,246,000. Alliancebernstein L.P. lifted its holdings in shares of Primis Financial by 44.5% during the third quarter. Alliancebernstein L.P. now owns 1,091,037 shares of the company’s stock valued at $11,467,000 after acquiring an additional 336,149 shares during the period. Fourthstone LLC lifted its holdings in shares of Primis Financial by 31.9% during the fourth quarter. Fourthstone LLC now owns 932,437 shares of the company’s stock valued at $12,970,000 after acquiring an additional 225,504 shares during the period. Finally, Mendon Capital Advisors Corp lifted its holdings in shares of Primis Financial by 16.6% during the second quarter. Mendon Capital Advisors Corp now owns 1,301,933 shares of the company’s stock valued at $14,126,000 after acquiring an additional 185,083 shares during the period. Institutional investors and hedge funds own 74.96% of the company’s stock.

Primis Financial Company Profile

Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.

Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.