Wall Street Zen Upgrades Primis Financial (NASDAQ:FRST) to “Buy”

Primis Financial (NASDAQ:FRST) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other brokerages have also weighed in 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 started coverage on Primis Financial in a research note on Monday, April 20th. They set an “outperform” rating and a $17.00 target price for the company. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Primis Financial Price Performance

FRST stock opened at $14.46 on Friday. Primis Financial has a one year low of $8.92 and a one year high of $14.97. The stock has a market capitalization of $358.17 million, a PE ratio of 6.82 and a beta of 0.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 1.03. The company has a fifty day moving average of $13.57 and a 200-day moving average of $12.87.

Primis Financial (NASDAQ:FRST) last issued its earnings results 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. The business had revenue of $45.63 million for the quarter, compared to the consensus estimate of $43.87 million. Primis Financial had a net margin of 19.71% and a return on equity of 5.09%. As a group, analysts expect that Primis Financial will post 1.65 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in shares of Primis Financial by 290.2% during the 3rd 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of Primis Financial in the 2nd quarter worth approximately $25,000. PNC Financial Services Group Inc. increased its stake in Primis Financial by 27.0% in the 3rd 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 in the last quarter. CWM LLC increased its stake in Primis Financial by 135.7% in the 3rd quarter. CWM LLC now owns 7,402 shares of the company’s stock valued at $78,000 after purchasing an additional 4,262 shares in the last quarter. Finally, BNP Paribas Financial Markets raised 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 worth $81,000 after purchasing an additional 5,695 shares during the last quarter. 74.96% of the stock is 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.