PL Capital Advisors LLC Has $3.30 Million Position in Primis Financial Corp. $FRST

PL Capital Advisors LLC lowered its position in Primis Financial Corp. (NASDAQ:FRST) by 50.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,241 shares of the company’s stock after selling 238,000 shares during the period. Primis Financial accounts for 1.0% of PL Capital Advisors LLC’s portfolio, making the stock its 14th largest holding. PL Capital Advisors LLC owned 0.96% of Primis Financial worth $3,300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Primis Financial during the second quarter valued at approximately $25,000. Russell Investments Group Ltd. grew its holdings 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 purchasing an additional 1,744 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings 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 purchasing an additional 1,231 shares during the last quarter. BNP Paribas Financial Markets grew its holdings 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 purchasing an additional 5,695 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in Primis Financial during the third quarter valued at approximately $112,000. Institutional investors and hedge funds own 74.96% of the company’s stock.

Analyst Upgrades and Downgrades

FRST has been the topic of several analyst reports. Weiss Ratings upgraded Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Wall Street Zen downgraded Primis Financial from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Keefe, Bruyette & Woods initiated coverage on Primis Financial in a report on Monday, April 20th. They set an “outperform” rating and a $17.00 price target on the stock. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Primis Financial Stock Up 0.7%

FRST opened at $14.56 on Thursday. Primis Financial Corp. has a 1-year low of $9.25 and a 1-year high of $14.97. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $360.65 million, a price-to-earnings ratio of 6.87 and a beta of 0.76. The business has a 50 day moving average of $13.87 and a 200-day moving average of $13.23.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Primis Financial had a return on equity of 4.98% and a net margin of 19.71%.The company had revenue of $45.63 million during the quarter, compared to analysts’ expectations of $43.87 million. As a group, sell-side analysts anticipate that Primis Financial Corp. will post 1.65 earnings per share for the current year.

Primis Financial Dividend Announcement

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

Primis Financial Company Profile

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.