Primis Financial (NASDAQ:FRST) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Primis Financial (NASDAQ:FRST) from a buy rating to a hold rating in a research report report published on Sunday morning.

A number of other equities research analysts also recently commented on FRST. Weiss Ratings raised Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods began coverage on Primis Financial in a report on Monday, April 20th. They set an “outperform” rating and a $17.00 target price for the company. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Primis Financial has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Primis Financial Stock Performance

Primis Financial stock opened at $13.82 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. Primis Financial has a 52 week low of $9.19 and a 52 week high of $14.97. The company has a market capitalization of $342.35 million, a price-to-earnings ratio of 6.52 and a beta of 0.76. The stock has a 50-day moving average price of $13.65 and a 200 day moving average price of $13.03.

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

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, May 8th. Primis Financial’s dividend payout ratio (DPR) is currently 18.87%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FRST. Russell Investments Group Ltd. raised its position in Primis Financial by 290.2% during the third quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company’s stock valued at $25,000 after acquiring an additional 1,744 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Primis Financial during the second quarter valued at approximately $25,000. PNC Financial Services Group Inc. raised its position in Primis Financial by 27.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,786 shares of the company’s stock valued at $61,000 after acquiring an additional 1,231 shares in the last quarter. CWM LLC raised its position in Primis Financial by 135.7% during the third quarter. CWM LLC now owns 7,402 shares of the company’s stock valued at $78,000 after acquiring an additional 4,262 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Primis Financial by 278.2% during the third quarter. BNP Paribas Financial Markets now owns 7,742 shares of the company’s stock valued at $81,000 after acquiring an additional 5,695 shares in the last quarter. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

About Primis Financial

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.