Stephens Issues Pessimistic Forecast for Primis Financial (NASDAQ:FRST) Stock Price

Primis Financial (NASDAQ:FRST) had its price target lowered by Stephens from $16.00 to $14.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Primis Financial Stock Performance

FRST opened at $11.22 on Wednesday. The business’s 50-day simple moving average is $11.82 and its 200 day simple moving average is $11.24. Primis Financial has a 52-week low of $9.34 and a 52-week high of $13.69. The firm has a market capitalization of $277.36 million, a PE ratio of 10.20 and a beta of 0.75.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The firm had revenue of $66.40 million during the quarter. During the same quarter in the previous year, the company posted $0.32 EPS. On average, research analysts forecast that Primis Financial will post 1.65 earnings per share for the current year.

Primis Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, November 8th. Primis Financial’s dividend payout ratio (DPR) is presently 36.36%.

Hedge Funds Weigh In On Primis Financial

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Primis Financial by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,693 shares of the company’s stock worth $411,000 after acquiring an additional 1,348 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Primis Financial by 1.1% in the second quarter. American Century Companies Inc. now owns 130,093 shares of the company’s stock valued at $1,363,000 after purchasing an additional 1,410 shares during the last quarter. Empowered Funds LLC raised its position in shares of Primis Financial by 8.1% in the first quarter. Empowered Funds LLC now owns 48,365 shares of the company’s stock valued at $589,000 after purchasing an additional 3,609 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Primis Financial by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 148,121 shares of the company’s stock worth $1,552,000 after buying an additional 4,001 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Primis Financial by 4.4% during the 2nd quarter. LSV Asset Management now owns 133,400 shares of the company’s stock worth $1,398,000 after buying an additional 5,600 shares during the period. Institutional investors and hedge funds own 74.96% of the company’s stock.

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.