Primis Financial (NASDAQ:FRST) Stock Rating Upgraded by Raymond James Financial

Primis Financial (NASDAQ:FRST) was upgraded by Raymond James Financial to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

FRST has been the topic of a number of other research reports. Keefe, Bruyette & Woods initiated coverage on Primis Financial in a report on Monday, April 20th. They set an “outperform” rating and a $17.00 price target on the stock. Weiss Ratings upgraded Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Wall Street Zen lowered Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $18.00.

Primis Financial Price Performance

Shares of Primis Financial stock opened at $16.65 on Thursday. The company’s fifty day simple moving average is $14.70 and its two-hundred day simple moving average is $13.86. Primis Financial has a 12-month low of $9.55 and a 12-month high of $16.77. The firm has a market cap of $412.45 million, a PE ratio of 7.85 and a beta of 0.75. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $45.63 million during the quarter, compared to the consensus estimate of $43.87 million. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. As a group, equities analysts expect that Primis Financial will post 1.57 EPS for the current year.

Institutional Trading of Primis Financial

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of Primis Financial by 12.6% in the 1st quarter. Royal Bank of Canada now owns 24,875 shares of the company’s stock worth $243,000 after buying an additional 2,790 shares during the period. AQR Capital Management LLC lifted its position in Primis Financial by 25.5% during the 1st quarter. AQR Capital Management LLC now owns 23,904 shares of the company’s stock valued at $234,000 after acquiring an additional 4,864 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Primis Financial by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,072 shares of the company’s stock worth $128,000 after acquiring an additional 1,370 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Primis Financial by 170.4% during the first quarter. Goldman Sachs Group Inc. now owns 248,639 shares of the company’s stock worth $2,429,000 after acquiring an additional 156,703 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Primis Financial by 65.3% in the first quarter. Empowered Funds LLC now owns 26,621 shares of the company’s stock worth $260,000 after purchasing an additional 10,515 shares during the period. Institutional investors 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.