Primis Financial (NASDAQ:FRST) Director Purchases $19,987.71 in Stock

Primis Financial Corp. (NASDAQ:FRST) Director Scott Gamble acquired 1,389 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $14.39 per share, with a total value of $19,987.71. Following the completion of the acquisition, the director owned 1,389 shares in the company, valued at $19,987.71. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Primis Financial Stock Up 2.8%

FRST stock traded up $0.41 during mid-day trading on Tuesday, hitting $14.88. 298,920 shares of the company were exchanged, compared to its average volume of 164,242. The company has a market capitalization of $368.45 million, a PE ratio of 7.06 and a beta of 0.75. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Primis Financial Corp. has a twelve month low of $9.25 and a twelve month high of $14.97. The firm has a fifty day simple moving average of $13.97 and a 200 day simple moving average of $13.31.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. The company had revenue of $45.63 million during the quarter, compared to analyst estimates of $43.87 million. On average, research analysts forecast that Primis Financial Corp. will post 1.65 earnings per share for the current fiscal year.

Primis Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 8th. Primis Financial’s dividend payout ratio is 18.87%.

Hedge Funds Weigh In On Primis Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRST. Mendon Capital Advisors Corp lifted its holdings in shares of Primis Financial by 16.6% in the second quarter. Mendon Capital Advisors Corp now owns 1,301,933 shares of the company’s stock valued at $14,126,000 after buying an additional 185,083 shares during the period. Patriot Financial Partners GP II L.P. bought a new position in Primis Financial during the third quarter valued at about $12,796,000. Vanguard Group Inc. boosted its stake in Primis Financial by 1.5% during the third quarter. Vanguard Group Inc. now owns 1,210,031 shares of the company’s stock valued at $12,717,000 after buying an additional 17,712 shares in the last quarter. North Reef Capital Management LP boosted its stake in Primis Financial by 23.5% during the fourth quarter. North Reef Capital Management LP now owns 1,203,604 shares of the company’s stock valued at $16,742,000 after buying an additional 228,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Primis Financial by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,185,793 shares of the company’s stock valued at $15,747,000 after buying an additional 28,998 shares in the last quarter. 74.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on FRST shares. Wall Street Zen lowered Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings raised shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods began coverage on shares of Primis Financial in a research report on Monday, April 20th. They issued an “outperform” rating and a $17.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

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.