Robert Yates Clagett Acquires 2,268 Shares of Primis Financial (NASDAQ:FRST) Stock

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett bought 2,268 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $10.98 per share, with a total value of $24,902.64. Following the completion of the purchase, the director owned 50,834 shares in the company, valued at approximately $558,157.32. This trade represents a 4.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Robert Yates Clagett also recently made the following trade(s):

• On Tuesday, November 11th, Robert Yates Clagett acquired 1,830 shares of Primis Financial stock. The stock was purchased at an average cost of $10.84 per share, with a total value of $19,837.20.

Primis Financial Trading Down 1.3%

Shares of Primis Financial stock opened at $10.88 on Friday. The firm has a 50-day simple moving average of $10.59 and a two-hundred day simple moving average of $10.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.95 and a current ratio of 0.98. Primis Financial Corp. has a fifty-two week low of $7.59 and a fifty-two week high of $12.95. The company has a market cap of $268.13 million, a P/E ratio of 77.71 and a beta of 0.86.

Primis Financial (NASDAQ:FRST) last posted its earnings results on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $41.00 million for the quarter, compared to analyst estimates of $27.96 million. Primis Financial had a net margin of 1.31% and a negative return on equity of 0.76%. As a group, equities analysts predict that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be given a $0.10 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.7%. Primis Financial’s payout ratio is 285.71%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Primis Financial during the 2nd quarter worth $25,000. Russell Investments Group Ltd. lifted its stake in shares of Primis Financial by 290.2% in the third quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company’s stock worth $25,000 after buying an additional 1,744 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Primis Financial by 154.8% in 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 boosted its position in Primis Financial by 135.7% during the third quarter. CWM LLC now owns 7,402 shares of the company’s stock worth $78,000 after acquiring an additional 4,262 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Primis Financial by 278.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,742 shares of the company’s stock valued at $81,000 after acquiring an additional 5,695 shares in the last quarter. 74.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FRST shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Primis Financial in a research report on Friday, October 31st. Zacks Research upgraded shares of Primis Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1.00.

About Primis Financial

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits.