Primis Financial (NASDAQ:FRST) Stock Gets Price Target Trim from Keefe, Bruyette & Woods

Primis Financial (NASDAQ:FRST) had its price target decreased by Keefe, Bruyette & Woods from $18.00 to $17.00 in a report issued on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Primis Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Primis Financial in a research note on Wednesday, October 21st. Finally, Raymond James Financial cut their price target on shares of Primis Financial from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Primis Financial has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Primis Financial Trading Down 2.7%

Shares of Primis Financial stock opened at $14.66 on Tuesday. The firm has a fifty day moving average price of $15.54 and a 200 day moving average price of $14.84. The stock has a market cap of $363.57 million, a PE ratio of 6.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 0.96. Primis Financial has a 1 year low of $10.50 and a 1 year high of $16.88.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The company had revenue of $49.23 million for the quarter, compared to analysts’ expectations of $50.89 million. Primis Financial had a net margin of 19.27% and a return on equity of 5.77%. Equities research analysts predict that Primis Financial will post 1.32 earnings per share for the current year.

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.40 dividend on an annualized basis and a yield of 2.7%. Primis Financial’s dividend payout ratio (DPR) is currently 17.94%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FRST. Legal & General Group Plc acquired a new position in Primis Financial in the 2nd quarter valued at $36,000. State of Wyoming purchased a new position in Primis Financial during the third quarter worth about $69,000. Fiduciary Financial Advisors acquired a new stake in Primis Financial in the second quarter valued at about $90,000. Public Employees Retirement System of Ohio acquired a new stake in Primis Financial in the second quarter valued at about $179,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Primis Financial in the first quarter valued at approximately $179,000. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Primis Financial Company Profile

Primis Financial Corp. is a bank holding company headquartered in Glen Allen, Virginia. Its principal subsidiary, Primis Bank, provides banking and financial services to individuals, families, businesses and nonprofit organizations.

Primis Bank offers deposit products, residential and commercial real estate loans, consumer lending, business loans, treasury and cash-management services, mortgage banking and online and mobile banking. The bank also provides services designed to support small and middle-market businesses, including commercial lending and payment solutions.

The institution was formerly known as Sonabank and adopted the Primis name as part of a broader rebranding in 2020.