Outfitter Financial LLC Cuts Stock Position in Primis Financial Corp. (NASDAQ:FRST)

Outfitter Financial LLC lessened its stake in Primis Financial Corp. (NASDAQ:FRST) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,320 shares of the company’s stock after selling 1,950 shares during the quarter. Outfitter Financial LLC owned approximately 0.34% of Primis Financial worth $824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FRST. Fourthstone LLC increased its holdings in Primis Financial by 263.3% in the 4th quarter. Fourthstone LLC now owns 898,014 shares of the company’s stock worth $10,471,000 after acquiring an additional 650,820 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Primis Financial during the first quarter worth $1,634,000. Mendon Capital Advisors Corp grew its holdings in shares of Primis Financial by 11.3% during the fourth quarter. Mendon Capital Advisors Corp now owns 1,051,728 shares of the company’s stock worth $12,263,000 after buying an additional 106,721 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Primis Financial during the fourth quarter worth $778,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Primis Financial by 14.0% during the fourth quarter. Renaissance Technologies LLC now owns 389,513 shares of the company’s stock worth $4,542,000 after buying an additional 47,900 shares in the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Primis Financial Trading Up 1.1%

Shares of FRST traded up $0.13 during mid-day trading on Friday, reaching $11.54. The stock had a trading volume of 17,085 shares, compared to its average volume of 78,208. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.96. Primis Financial Corp. has a 52-week low of $7.59 and a 52-week high of $13.52. The business’s fifty day moving average is $10.11 and its 200 day moving average is $10.05. The firm has a market cap of $285.27 million, a price-to-earnings ratio of -39.95 and a beta of 0.74.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Primis Financial had a negative net margin of 2.94% and a negative return on equity of 1.83%. The firm had revenue of $32.53 million during the quarter, compared to analysts’ expectations of $26.90 million. On average, sell-side analysts predict that Primis Financial Corp. will post 1.4 EPS for the current fiscal year.

Primis Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Wednesday, May 14th. Primis Financial’s dividend payout ratio is currently -137.93%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FRST. Wall Street Zen raised shares of Primis Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Maxim Group began coverage on shares of Primis Financial in a report on Monday, May 12th. They set a “buy” rating and a $1.00 target price for the company.

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.