Insider Buying: Primis Financial (NASDAQ:FRST) Director Purchases 1,608 Shares of Stock

by · The Cerbat Gem

Primis Financial Corp. (NASDAQ:FRST – Get Free Report) Director Deborah Diaz acquired 1,608 shares of Primis Financial stock in a transaction on Wednesday, December 10th. The stock was purchased at an average cost of $12.34 per share, with a total value of $19,842.72. Following the purchase, the director directly owned 20,072 shares of the company’s stock, valued at approximately $247,688.48. This trade represents a 8.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Primis Financial Stock Up 3.1%

Shares of NASDAQ:FRST traded up $0.40 during trading on Friday, reaching $13.25. 67,943 shares of the stock were exchanged, compared to its average volume of 89,011. The stock has a fifty day moving average of $10.83 and a two-hundred day moving average of $10.80. Primis Financial Corp. has a 1-year low of $7.59 and a 1-year high of $13.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $326.41 million, a price-to-earnings ratio of 94.89 and a beta of 0.81.

Primis Financial (NASDAQ:FRST – Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). Primis Financial had a net margin of 1.31% and a negative return on equity of 0.75%. The business had revenue of $41.00 million for the quarter, compared to the consensus estimate of $27.96 million. Research analysts anticipate that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.40 annualized dividend and a yield of 3.0%. Primis Financial’s dividend payout ratio (DPR) is presently 285.71%.

Hedge Funds Weigh In On Primis Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in FRST. Raymond James Financial Inc. purchased a new stake in Primis Financial during the second quarter worth about $25,000. Russell Investments Group Ltd. increased its stake in shares of 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 during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Primis Financial by 154.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,555 shares of the company’s stock worth $49,000 after purchasing an additional 2,767 shares during the last quarter. CWM LLC raised its holdings in shares of Primis Financial by 135.7% in the 3rd quarter. CWM LLC now owns 7,402 shares of the company’s stock worth $78,000 after purchasing an additional 4,262 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Primis Financial by 278.2% in the third quarter. BNP Paribas Financial Markets now owns 7,742 shares of the company’s stock valued at $81,000 after purchasing an additional 5,695 shares during the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on FRST. Weiss Ratings reissued a “hold (c)” rating on shares of Primis Financial in a report on Monday. Zacks Research upgraded Primis Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Primis Financial presently has an average rating of “Hold” and an average target price of $1.00.

View Our Latest Stock Analysis on FRST

Primis Financial Company Profile

(Get Free Report)

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.

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