Primis Financial (NASDAQ:FRST) Director Scott Gamble Purchases 1,711 Shares

Primis Financial Corp. (NASDAQ:FRST) Director Scott Gamble purchased 1,711 shares of Primis Financial stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of $14.59 per share, for a total transaction of $24,963.49. Following the completion of the acquisition, the director owned 3,100 shares of the company’s stock, valued at approximately $45,229. This trade represents a 123.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Primis Financial Trading Up 3.9%

Shares of NASDAQ FRST opened at $14.94 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 1.02. The business’s 50 day moving average price is $14.08 and its 200-day moving average price is $13.39. Primis Financial Corp. has a fifty-two week low of $9.34 and a fifty-two week high of $15.10. The company has a market cap of $370.06 million, a price-to-earnings ratio of 7.05 and a beta of 0.75.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. Primis Financial had a return on equity of 4.98% and a net margin of 19.71%.The company had revenue of $45.63 million for the quarter, compared to analysts’ expectations of $43.87 million. On average, sell-side analysts expect that Primis Financial Corp. will post 1.57 earnings per share for the current year.

Primis Financial Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods assumed coverage on Primis Financial in a research report on Monday, April 20th. They issued an “outperform” rating and a $17.00 price objective for the company. Wall Street Zen cut Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings raised Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Hedge Funds Weigh In On Primis Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC purchased a new position in Primis Financial in the 1st quarter worth $1,303,000. Empowered Funds LLC raised its stake in Primis Financial by 9.7% in the 1st quarter. Empowered Funds LLC now owns 46,907 shares of the company’s stock worth $623,000 after acquiring an additional 4,139 shares during the last quarter. Quantinno Capital Management LP raised its stake in Primis Financial by 25.7% in the 1st quarter. Quantinno Capital Management LP now owns 50,363 shares of the company’s stock worth $669,000 after acquiring an additional 10,298 shares during the last quarter. Mendon Capital Advisors Corp raised its stake in Primis Financial by 0.6% in the 1st quarter. Mendon Capital Advisors Corp now owns 1,224,543 shares of the company’s stock worth $16,262,000 after acquiring an additional 7,216 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Primis Financial by 15.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 171,309 shares of the company’s stock worth $2,275,000 after acquiring an additional 22,793 shares during 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.