Primis Financial (NASDAQ:FRST) Upgraded to Moderate Buy at Keefe, Bruyette & Woods

Primis Financial (NASDAQ:FRST) was upgraded by stock analysts at Keefe, Bruyette & Woods to a “moderate buy” rating in a research report issued to clients and investors on Sunday,Zacks.com reports.

A number of other research analysts have also issued reports on FRST. Weiss Ratings upgraded shares of Primis Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Wall Street Zen lowered shares of Primis Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Primis Financial Price Performance

NASDAQ:FRST opened at $14.14 on Friday. The firm has a market cap of $350.25 million, a price-to-earnings ratio of 7.33 and a beta of 0.72. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average is $13.43 and its two-hundred day moving average is $12.54. Primis Financial has a 12-month low of $7.59 and a 12-month high of $14.55.

Primis Financial (NASDAQ:FRST) last released its earnings results on Thursday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The firm had revenue of $80.87 million during the quarter, compared to analysts’ expectations of $30.01 million. Primis Financial had a net margin of 18.78% and a return on equity of 3.99%. Research analysts expect that Primis Financial will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other Primis Financial news, EVP Matthew Alan Switzer bought 2,500 shares of Primis Financial stock in a transaction that occurred on Tuesday, February 3rd. The shares were purchased at an average cost of $14.06 per share, for a total transaction of $35,150.00. Following the completion of the transaction, the executive vice president owned 96,226 shares of the company’s stock, valued at $1,352,937.56. This represents a 2.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 7,025 shares of company stock worth $92,961 in the last quarter. Corporate insiders own 10.87% of the company’s stock.

Hedge Funds Weigh In On Primis Financial

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Primis Financial during the second quarter worth about $25,000. Russell Investments Group Ltd. lifted its position in Primis Financial by 290.2% during 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 during the period. PNC Financial Services Group Inc. lifted its position in Primis Financial by 27.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,786 shares of the company’s stock worth $61,000 after buying an additional 1,231 shares during the period. Commonwealth Retirement Investments LLC purchased a new position in Primis Financial during the fourth quarter worth about $82,000. Finally, Public Employees Retirement System of Ohio lifted its position in Primis Financial by 141.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 6,733 shares of the company’s stock worth $94,000 after buying an additional 3,950 shares during the period. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

Primis Financial Company Profile

Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.

Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.