Corbyn Investment Management Inc. MD Sells 30,881 Shares of Primis Financial Corp. (NASDAQ:FRST)

Corbyn Investment Management Inc. MD reduced its position in shares of Primis Financial Corp. (NASDAQ:FRST) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 374,304 shares of the company’s stock after selling 30,881 shares during the quarter. Primis Financial comprises about 2.2% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 16th biggest position. Corbyn Investment Management Inc. MD owned 1.52% of Primis Financial worth $4,739,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Anchor Investment Management LLC bought a new position in shares of Primis Financial in the 4th quarter worth $127,000. SG Americas Securities LLC purchased a new position in Primis Financial in the fourth quarter valued at about $140,000. Citigroup Inc. raised its holdings in Primis Financial by 112.1% in the third quarter. Citigroup Inc. now owns 45,619 shares of the company’s stock worth $372,000 after purchasing an additional 24,111 shares in the last quarter. Finally, ELCO Management Co. LLC lifted its position in shares of Primis Financial by 77.0% during the third quarter. ELCO Management Co. LLC now owns 55,632 shares of the company’s stock valued at $453,000 after buying an additional 24,210 shares during the last quarter. 74.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, TheStreet raised shares of Primis Financial from a “c” rating to a “b” rating in a report on Friday, January 26th.

Insider Buying and Selling

In related news, Director Charles A. Kabbash purchased 3,390 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was bought at an average cost of $12.51 per share, with a total value of $42,408.90. Following the completion of the acquisition, the director now owns 76,183 shares of the company’s stock, valued at approximately $953,049.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 7,500 shares of company stock valued at $91,631 over the last ninety days. Company insiders own 11.08% of the company’s stock.

Primis Financial Stock Performance

Shares of FRST stock traded down $0.46 during trading hours on Friday, hitting $10.23. The company’s stock had a trading volume of 44,487 shares, compared to its average volume of 78,234. The stock has a market cap of $252.48 million, a PE ratio of 11.58 and a beta of 0.73. Primis Financial Corp. has a 12-month low of $7.01 and a 12-month high of $13.69. The company has a 50 day moving average of $11.72 and a 200 day moving average of $11.20. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.28 by $0.07. The company had revenue of $39.24 million for the quarter, compared to analyst estimates of $36.17 million. Primis Financial had a net margin of 8.73% and a return on equity of 5.90%. On average, sell-side analysts forecast that Primis Financial Corp. will post 1.57 EPS for the current fiscal year.

About Primis Financial

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.