Tower Research Capital LLC TRC Sells 5,603 Shares of Primis Financial Corp. (NASDAQ:FRST)

Tower Research Capital LLC TRC reduced its stake in shares of Primis Financial Corp. (NASDAQ:FRST) by 54.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,779 shares of the company’s stock after selling 5,603 shares during the period. Tower Research Capital LLC TRC’s holdings in Primis Financial were worth $61,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of FRST. Citigroup Inc. lifted its position in shares of Primis Financial by 112.1% during the third quarter. Citigroup Inc. now owns 45,619 shares of the company’s stock valued at $372,000 after purchasing an additional 24,111 shares in the last quarter. Anchor Investment Management LLC bought a new position in shares of Primis Financial during the 4th quarter worth approximately $127,000. SG Americas Securities LLC purchased a new position in shares of Primis Financial in the 4th quarter worth approximately $140,000. ELCO Management Co. LLC grew its holdings in shares of Primis Financial by 77.0% in the third quarter. ELCO Management Co. LLC now owns 55,632 shares of the company’s stock valued at $453,000 after acquiring an additional 24,210 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Primis Financial during the fourth quarter valued at approximately $275,000. 74.96% of the stock is owned by hedge funds and other institutional investors.

Primis Financial Stock Performance

NASDAQ FRST traded down $0.08 during trading hours on Monday, reaching $10.09. 83,449 shares of the company were exchanged, compared to its average volume of 78,634. The stock has a market capitalization of $249.02 million, a P/E ratio of 11.73 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. Primis Financial Corp. has a 1 year low of $7.01 and a 1 year high of $13.69. The business’s 50 day simple moving average is $11.62 and its 200-day simple moving average is $11.28.

Primis Financial (NASDAQ:FRST) last released its earnings results on Thursday, January 25th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. The firm had revenue of $39.24 million during the quarter, compared to the consensus estimate of $36.17 million. Primis Financial had a net margin of 8.73% and a return on equity of 5.90%. On average, equities research analysts expect that Primis Financial Corp. will post 1.57 earnings per share for the current year.

Primis Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, May 9th. Primis Financial’s dividend payout ratio (DPR) is 46.51%.

Insiders Place Their Bets

In other news, Director Charles A. Kabbash acquired 3,390 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were acquired at an average cost of $12.51 per share, for a total transaction of $42,408.90. Following the purchase, the director now owns 76,183 shares of the company’s stock, valued at approximately $953,049.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 7,500 shares of company stock valued at $91,631 over the last ninety days. 10.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, TheStreet raised Primis Financial from a “c” rating to a “b” rating in a research report on Friday, January 26th.

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.