Primis Financial Corp. (NASDAQ:FRST) Director F L. Garrett III Purchases 3,660 Shares

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

Primis Financial Stock Performance

NASDAQ FRST opened at $12.24 on Wednesday. The company has a market capitalization of $302.57 million, a PE ratio of 13.24 and a beta of 0.78. 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 company has a 50-day simple moving average of $12.11 and a 200 day simple moving average of $11.64.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.35). Primis Financial had a return on equity of 3.28% and a net margin of 6.00%. The company had revenue of $66.40 million for the quarter. During the same period in the prior year, the firm posted $0.32 EPS. On average, research analysts predict that Primis Financial Corp. will post 0.5 EPS for the current year.

Primis Financial Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fourthstone LLC raised its stake in Primis Financial by 271.5% in the 3rd quarter. Fourthstone LLC now owns 247,194 shares of the company’s stock valued at $3,011,000 after acquiring an additional 180,655 shares during the period. Inspire Investing LLC purchased a new position in shares of Primis Financial in the third quarter worth about $828,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Primis Financial by 91.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,028 shares of the company’s stock valued at $1,523,000 after purchasing an additional 59,746 shares during the period. Foundry Partners LLC lifted its stake in shares of Primis Financial by 14.5% during 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 in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Primis Financial by 22.6% in the 2nd quarter. Acadian Asset Management LLC now owns 178,312 shares of the company’s stock worth $1,867,000 after buying an additional 32,896 shares during the period. Institutional investors own 74.96% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens cut their price objective on Primis Financial from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th.

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.