Primis Financial (NASDAQ:FRST) Director Robert Yates Clagett Buys 1,421 Shares

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett bought 1,421 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $14.00 per share, with a total value of $19,894.00. Following the transaction, the director owned 53,665 shares in the company, valued at approximately $751,310. The trade was a 2.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Primis Financial Trading Up 0.9%

Shares of NASDAQ:FRST opened at $14.15 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 1.02. The stock’s 50-day moving average is $13.71 and its 200-day moving average is $13.10. The company has a market cap of $350.52 million, a P/E ratio of 6.67 and a beta of 0.76. Primis Financial Corp. has a 52-week low of $9.19 and a 52-week high of $14.97.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $45.63 million during the quarter, compared to analysts’ expectations of $43.87 million. Primis Financial had a return on equity of 4.98% and a net margin of 19.71%. Equities research analysts predict that Primis Financial Corp. will post 1.65 earnings per share for the current year.

Primis Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, May 8th. Primis Financial’s dividend payout ratio (DPR) is presently 18.87%.

Analyst Ratings Changes

FRST has been the subject of several analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Primis Financial in a report on Monday, April 20th. They set an “outperform” rating and a $17.00 price target for the company. Weiss Ratings upgraded shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded Primis Financial from a “buy” rating to a “hold” rating in a report on Sunday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Primis Financial currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Institutional Investors Weigh In On Primis Financial

A number of institutional investors have recently made changes to their positions in FRST. Russell Investments Group Ltd. increased its stake in Primis Financial by 290.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company’s stock worth $25,000 after purchasing an additional 1,744 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Primis Financial during the second quarter worth $25,000. PNC Financial Services Group Inc. lifted its position in Primis Financial by 27.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,786 shares of the company’s stock valued at $61,000 after acquiring an additional 1,231 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Primis Financial by 278.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,742 shares of the company’s stock valued at $81,000 after acquiring an additional 5,695 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC acquired a new position in Primis Financial in the 4th quarter worth $82,000. 74.96% of the stock is owned by institutional investors and hedge funds.

About Primis Financial

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.