Primis Financial (NASDAQ:FRST) Director Scott Gamble Purchases 1,389 Shares

Primis Financial Corp. (NASDAQ:FRST) Director Scott Gamble purchased 1,389 shares of the business’s stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $14.39 per share, for a total transaction of $19,987.71. Following the purchase, the director owned 1,389 shares of the company’s stock, valued at $19,987.71. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Primis Financial Trading Up 2.8%

NASDAQ:FRST traded up $0.41 during trading hours on Tuesday, reaching $14.88. 298,920 shares of the company were exchanged, compared to its average volume of 164,242. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $368.45 million, a price-to-earnings ratio of 7.06 and a beta of 0.75. Primis Financial Corp. has a 52-week low of $9.25 and a 52-week high of $14.97. The stock has a 50 day simple moving average of $13.97 and a 200 day simple moving average of $13.31.

Primis Financial (NASDAQ:FRST) last issued its earnings results on Thursday, April 23rd. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. The business had revenue of $45.63 million for the quarter, compared to the consensus estimate of $43.87 million. As a group, analysts predict that Primis Financial Corp. will post 1.65 EPS for the current year.

Primis Financial Announces Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Primis Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio grew its holdings in Primis Financial by 2.6% during the 1st quarter. Strs Ohio now owns 44,000 shares of the company’s stock worth $584,000 after acquiring an additional 1,100 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Primis Financial by 27.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,786 shares of the company’s stock worth $61,000 after acquiring an additional 1,231 shares in the last quarter. First Trust Advisors LP grew its holdings in Primis Financial by 8.6% during the 2nd quarter. First Trust Advisors LP now owns 16,623 shares of the company’s stock worth $180,000 after acquiring an additional 1,313 shares in the last quarter. Barclays PLC grew its holdings in Primis Financial by 4.2% during the 4th quarter. Barclays PLC now owns 32,660 shares of the company’s stock worth $454,000 after acquiring an additional 1,331 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Primis Financial by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,072 shares of the company’s stock worth $128,000 after acquiring an additional 1,370 shares in the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.

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.