211,466 Shares in Primis Financial Corp. $FRST Bought by Algert Global LLC

Algert Global LLC acquired a new stake in Primis Financial Corp. (NASDAQ:FRST) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 211,466 shares of the company’s stock, valued at approximately $3,462,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Strs Ohio grew its position in shares of Primis Financial by 2.6% in the 1st quarter. Strs Ohio now owns 44,000 shares of the company’s stock worth $584,000 after buying an additional 1,100 shares during the last quarter. First Trust Advisors LP lifted its stake in Primis Financial by 8.6% during the 2nd quarter. First Trust Advisors LP now owns 16,623 shares of the company’s stock valued at $180,000 after acquiring an additional 1,313 shares during the period. Barclays PLC boosted its holdings in shares of Primis Financial by 4.2% during the 4th quarter. Barclays PLC now owns 32,660 shares of the company’s stock valued at $454,000 after acquiring an additional 1,331 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Primis Financial by 11.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,072 shares of the company’s stock worth $128,000 after acquiring an additional 1,370 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Primis Financial by 4.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,768 shares of the company’s stock valued at $595,000 after purchasing an additional 1,667 shares during the last quarter. Institutional investors own 74.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FRST shares. Wall Street Zen cut Primis Financial from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Raymond James Financial started coverage on shares of Primis Financial in a research report on Thursday, June 25th. They set a “strong-buy” rating and a $19.00 price objective on the stock. Finally, Weiss Ratings raised shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $18.00.

Primis Financial Trading Up 0.6%

FRST stock opened at $16.02 on Friday. Primis Financial Corp. has a twelve month low of $9.55 and a twelve month high of $16.88. The stock has a market capitalization of $397.30 million, a price-to-earnings ratio of 7.42 and a beta of 0.73. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $16.06 and its two-hundred day simple moving average is $14.70.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.15). The firm had revenue of $55.79 million for the quarter, compared to the consensus estimate of $48.77 million. Primis Financial had a net margin of 19.19% and a return on equity of 5.49%. As a group, analysts anticipate that Primis Financial Corp. will post 1.38 earnings per share for the current year.

Primis Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.40 dividend on an annualized basis and a yield of 2.5%. Primis Financial’s payout ratio is 18.52%.

Primis Financial 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.