Primis Financial (NASDAQ:FRST) Director Robert Yates Clagett Purchases 2,268 Shares of Stock

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett acquired 2,268 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $10.98 per share, for a total transaction of $24,902.64. Following the completion of the transaction, the director owned 50,834 shares in the company, valued at $558,157.32. The trade was a 4.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Robert Yates Clagett also recently made the following trade(s):

• On Tuesday, November 11th, Robert Yates Clagett bought 1,830 shares of Primis Financial stock. The shares were purchased at an average cost of $10.84 per share, with a total value of $19,837.20.

Primis Financial Trading Down 1.0%

Shares of Primis Financial stock traded down $0.11 during trading on Friday, hitting $10.92. The stock had a trading volume of 13,388 shares, compared to its average volume of 89,312. The stock has a 50 day simple moving average of $10.60 and a 200 day simple moving average of $10.48. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. Primis Financial Corp. has a 1 year low of $7.59 and a 1 year high of $12.95. The company has a market capitalization of $268.99 million, a PE ratio of 78.01 and a beta of 0.86.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The firm had revenue of $41.00 million during the quarter, compared to analyst estimates of $27.96 million. Primis Financial had a negative return on equity of 0.76% and a net margin of 1.31%. On average, research analysts expect that Primis Financial Corp. will post 1.4 EPS for the current fiscal year.

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.7%. Primis Financial’s payout ratio is currently 285.71%.

Hedge Funds Weigh In On Primis Financial

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in Primis Financial by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 140,406 shares of the company’s stock worth $1,372,000 after acquiring an additional 2,831 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Primis Financial by 4.0% in the 1st quarter. Victory Capital Management Inc. now owns 91,500 shares of the company’s stock valued at $894,000 after purchasing an additional 3,500 shares during the period. Segall Bryant & Hamill LLC bought a new position in Primis Financial during the first quarter worth about $1,634,000. Charles Schwab Investment Management Inc. increased its position in Primis Financial by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 63,987 shares of the company’s stock worth $625,000 after buying an additional 4,645 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Primis Financial by 7.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,206 shares of the company’s stock valued at $1,516,000 after buying an additional 10,724 shares during the period. 74.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FRST has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Primis Financial in a research report on Friday, October 31st. Zacks Research raised Primis Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Primis Financial has an average rating of “Hold” and an average target price of $1.00.

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.