Cary Street Partners Financial LLC Buys Shares of 66,750 Primis Financial Corp. (NASDAQ:FRST)

Cary Street Partners Financial LLC purchased a new position in Primis Financial Corp. (NASDAQ:FRST) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 66,750 shares of the company’s stock, valued at approximately $778,000. Cary Street Partners Financial LLC owned approximately 0.27% of Primis Financial at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in Primis Financial in the fourth quarter worth about $51,000. Wells Fargo & Company MN grew its position in shares of Primis Financial by 25.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,639 shares of the company’s stock worth $147,000 after buying an additional 2,585 shares during the last quarter. Marshall Wace LLP purchased a new stake in Primis Financial during the fourth quarter valued at approximately $148,000. Oxford Asset Management LLP acquired a new stake in Primis Financial in the fourth quarter valued at approximately $162,000. Finally, State of Tennessee Department of Treasury acquired a new stake in Primis Financial in the fourth quarter valued at approximately $194,000. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John Fitzgerald Biagas purchased 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $9.97 per share, for a total transaction of $99,700.00. Following the purchase, the director now owns 88,469 shares in the company, valued at $882,035.93. This trade represents a 12.74 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.89% of the stock is owned by insiders.

Primis Financial Stock Performance

Shares of FRST stock opened at $9.08 on Friday. Primis Financial Corp. has a 12-month low of $7.59 and a 12-month high of $13.52. The business’s fifty day simple moving average is $9.10 and its 200-day simple moving average is $10.73. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The company has a market cap of $224.48 million, a PE ratio of -30.27 and a beta of 0.65.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). The business had revenue of $32.53 million during the quarter, compared to analysts’ expectations of $26.90 million. Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.05%. Analysts expect that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Wednesday, May 14th. Primis Financial’s dividend payout ratio (DPR) is presently -137.93%.

Primis Financial Company Profile

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.