PL Capital Advisors LLC Has $3.30 Million Stock Holdings in Primis Financial Corp. $FRST

PL Capital Advisors LLC cut its holdings in Primis Financial Corp. (NASDAQ:FRST) by 50.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 237,241 shares of the company’s stock after selling 238,000 shares during the quarter. Primis Financial makes up 1.0% of PL Capital Advisors LLC’s portfolio, making the stock its 14th largest position. PL Capital Advisors LLC’s holdings in Primis Financial were worth $3,300,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GSA Capital Partners LLP increased its stake in shares of Primis Financial by 6.7% in the fourth quarter. GSA Capital Partners LLP now owns 83,612 shares of the company’s stock valued at $1,163,000 after buying an additional 5,265 shares in the last quarter. North Reef Capital Management LP acquired a new stake in shares of Primis Financial in the third quarter valued at $10,246,000. Citadel Advisors LLC increased its stake in shares of Primis Financial by 68.7% in the third quarter. Citadel Advisors LLC now owns 23,140 shares of the company’s stock valued at $243,000 after buying an additional 9,421 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Primis Financial by 44.5% in the third quarter. Alliancebernstein L.P. now owns 1,091,037 shares of the company’s stock valued at $11,467,000 after buying an additional 336,149 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Primis Financial in the third quarter valued at $112,000. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Primis Financial Price Performance

Shares of FRST stock opened at $14.56 on Thursday. The stock has a 50-day moving average price of $13.87 and a 200 day moving average price of $13.23. 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 firm has a market cap of $360.65 million, a price-to-earnings ratio of 6.87 and a beta of 0.76. Primis Financial Corp. has a 12 month low of $9.25 and a 12 month high of $14.97.

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

Primis Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, May 8th. Primis Financial’s dividend payout ratio (DPR) is presently 18.87%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FRST. Wall Street Zen lowered Primis Financial from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Keefe, Bruyette & Woods began coverage on Primis Financial in a research note on Monday, April 20th. They issued an “outperform” rating and a $17.00 target price for the company. Finally, Weiss Ratings upgraded Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Primis Financial currently has an average rating of “Moderate Buy” and an average target price of $17.00.

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.