Hillsdale Investment Management Inc. Takes Position in Primis Financial Corp. (NASDAQ:FRST)

Hillsdale Investment Management Inc. acquired a new stake in shares of Primis Financial Corp. (NASDAQ:FRST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 91,069 shares of the company’s stock, valued at approximately $1,153,000. Hillsdale Investment Management Inc. owned about 0.37% of Primis Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in FRST. Anchor Investment Management LLC bought a new stake in Primis Financial during the 4th quarter valued at approximately $127,000. SG Americas Securities LLC bought a new stake in Primis Financial during the 4th quarter valued at approximately $140,000. Panagora Asset Management Inc. bought a new stake in Primis Financial during the 4th quarter valued at approximately $275,000. Citigroup Inc. boosted its stake in Primis Financial by 112.1% during the 3rd quarter. Citigroup Inc. now owns 45,619 shares of the company’s stock valued at $372,000 after purchasing an additional 24,111 shares during the period. Finally, ELCO Management Co. LLC boosted its stake in Primis Financial by 77.0% during the 3rd quarter. ELCO Management Co. LLC now owns 55,632 shares of the company’s stock valued at $453,000 after purchasing an additional 24,210 shares during the period. Institutional investors and hedge funds own 74.96% of the company’s stock.

Insider Transactions at Primis Financial

In related news, Director Charles A. Kabbash bought 3,390 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average cost of $12.51 per share, with a total value of $42,408.90. Following the acquisition, the director now owns 76,183 shares in the company, valued at approximately $953,049.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders purchased 7,500 shares of company stock valued at $91,631. Corporate insiders own 10.63% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet upgraded Primis Financial from a “c” rating to a “b” rating in a research note on Friday, January 26th.

Primis Financial Price Performance

Shares of FRST stock opened at $10.71 on Tuesday. The stock has a 50 day moving average of $11.07 and a two-hundred day moving average of $11.51. 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 Corp. has a 12 month low of $7.27 and a 12 month high of $13.69. The company has a market capitalization of $264.32 million, a P/E ratio of 12.45 and a beta of 0.78.

Primis Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.10 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.73%. Primis Financial’s payout ratio is presently 46.51%.

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.