Primis Financial (NASDAQ:FRST) Director Deborah Diaz Purchases 1,050 Shares of Stock

Primis Financial Corp. (NASDAQ:FRST) Director Deborah Diaz acquired 1,050 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were bought at an average cost of $12.77 per share, for a total transaction of $13,408.50. Following the transaction, the director directly owned 21,122 shares of the company’s stock, valued at approximately $269,727.94. This trade represents a 5.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Primis Financial Stock Down 0.7%

NASDAQ:FRST traded down $0.09 during midday trading on Friday, reaching $12.76. The company had a trading volume of 37,219 shares, compared to its average volume of 95,663. The stock’s fifty day simple moving average is $13.56 and its 200-day simple moving average is $12.06. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. Primis Financial Corp. has a 12-month low of $7.59 and a 12-month high of $14.55. The firm has a market capitalization of $314.41 million, a price-to-earnings ratio of 6.61 and a beta of 0.75.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.24). Primis Financial had a net margin of 18.78% and a return on equity of 4.11%. The company had revenue of $80.87 million during the quarter, compared to analysts’ expectations of $30.01 million. On average, sell-side analysts anticipate that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, February 13th. Primis Financial’s dividend payout ratio (DPR) is presently 20.73%.

Primis Financial announced that its board has initiated a stock buyback program on Thursday, December 18th that permits the company to buyback $750,000.00 in shares. This buyback authorization permits the company to repurchase up to 0.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on FRST. Weiss Ratings reiterated a “hold (c)” rating on shares of Primis Financial in a report on Monday, December 29th. Wall Street Zen lowered shares of Primis Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Primis Financial presently has an average rating of “Hold” and an average price target of $1.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in Primis Financial by 290.2% in the 3rd 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Primis Financial in the 2nd quarter valued at about $25,000. PNC Financial Services Group Inc. boosted its holdings in Primis Financial by 154.8% during the second quarter. PNC Financial Services Group Inc. now owns 4,555 shares of the company’s stock worth $49,000 after buying an additional 2,767 shares in the last quarter. CWM LLC increased its holdings in Primis Financial by 135.7% in the third quarter. CWM LLC now owns 7,402 shares of the company’s stock valued at $78,000 after buying an additional 4,262 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Primis Financial by 278.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,742 shares of the company’s stock worth $81,000 after acquiring an additional 5,695 shares in the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

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.