Primis Financial (NASDAQ:FRST) Director Purchases $19,987.71 in Stock

Primis Financial Corp. (NASDAQ:FRST) Director Scott Gamble purchased 1,389 shares of Primis Financial stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $14.39 per share, for a total transaction of $19,987.71. Following the completion of the transaction, the director owned 1,389 shares of the company’s stock, valued at approximately $19,987.71. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Primis Financial Trading Up 3.9%

Shares of NASDAQ FRST opened at $14.94 on Friday. The company’s fifty day moving average is $14.08 and its 200-day moving average is $13.39. The stock has a market cap of $370.06 million, a price-to-earnings ratio of 7.05 and a beta of 0.75. Primis Financial Corp. has a twelve month low of $9.34 and a twelve month high of $15.10. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $45.63 million for the quarter, compared to analysts’ expectations of $43.87 million. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. Equities research analysts predict that Primis Financial Corp. will post 1.57 EPS for the current year.

Primis Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, May 8th. Primis Financial’s dividend payout ratio (DPR) is currently 18.87%.

Institutional Investors Weigh In On Primis Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mendon Capital Advisors Corp lifted its position in Primis Financial by 16.6% during the 2nd quarter. Mendon Capital Advisors Corp now owns 1,301,933 shares of the company’s stock worth $14,126,000 after buying an additional 185,083 shares in the last quarter. Patriot Financial Partners GP II L.P. bought a new stake in Primis Financial during the 3rd quarter worth about $12,796,000. Vanguard Group Inc. lifted its position in Primis Financial by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,210,031 shares of the company’s stock worth $12,717,000 after buying an additional 17,712 shares in the last quarter. North Reef Capital Management LP lifted its position in Primis Financial by 23.5% during the 4th quarter. North Reef Capital Management LP now owns 1,203,604 shares of the company’s stock worth $16,742,000 after buying an additional 228,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Primis Financial by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,185,793 shares of the company’s stock worth $15,747,000 after buying an additional 28,998 shares in the last quarter. 74.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings raised shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Wall Street Zen cut shares of Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Primis Financial in a research report on Monday, April 20th. They issued an “outperform” rating and a $17.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.00.

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.