F L. Garrett III Buys 3,660 Shares of Primis Financial Corp. (NASDAQ:FRST) Stock

Primis Financial Corp. (NASDAQ:FRST) Director F L. Garrett III purchased 3,660 shares of the stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $12.32 per share, with a total value of $45,091.20. Following the acquisition, the director now owns 41,169 shares of the company’s stock, valued at approximately $507,202.08. This represents a 9.76 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Primis Financial Price Performance

Shares of FRST opened at $12.46 on Tuesday. The firm has a market capitalization of $308.01 million, a PE ratio of 13.24 and a beta of 0.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.98. The company’s fifty day moving average price is $12.10 and its 200-day moving average price is $11.63. Primis Financial Corp. has a 1-year low of $9.52 and a 1-year high of $13.69.

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 the consensus estimate of $0.43 by ($0.35). The firm had revenue of $66.40 million during the quarter. Primis Financial had a return on equity of 3.28% and a net margin of 6.00%. During the same period last year, the firm posted $0.32 EPS. On average, equities research analysts predict that Primis Financial Corp. will post 0.5 EPS for the current year.

Primis Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, November 8th.

Institutional Trading of Primis Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Princeton Capital Management LLC acquired a new position in Primis Financial during the second quarter valued at $105,000. Mackenzie Financial Corp acquired a new position in shares of Primis Financial in the 2nd quarter valued at about $106,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Primis Financial in the second quarter worth about $144,000. AQR Capital Management LLC grew its holdings in Primis Financial by 55.1% during the second quarter. AQR Capital Management LLC now owns 19,097 shares of the company’s stock worth $200,000 after acquiring an additional 6,783 shares during the period. Finally, De Lisle Partners LLP raised its position in Primis Financial by 109.5% during the third quarter. De Lisle Partners LLP now owns 21,016 shares of the company’s stock valued at $256,000 after acquiring an additional 10,986 shares in the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens decreased their price objective on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th.

Primis Financial Company Profile

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.