Insider Buying: Primis Financial Corp. (NASDAQ:FRST) Director Buys 1,805 Shares of Stock

Primis Financial Corp. (NASDAQ:FRST) Director John Fitzgerald Biagas acquired 1,805 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were bought at an average cost of $11.04 per share, with a total value of $19,927.20. Following the completion of the acquisition, the director now directly owns 76,171 shares of the company’s stock, valued at $840,927.84. The trade was a 2.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Primis Financial Trading Up 0.7 %

Shares of FRST stock traded up $0.08 during mid-day trading on Tuesday, hitting $10.97. The company had a trading volume of 26,177 shares, compared to its average volume of 59,387. Primis Financial Corp. has a 52-week low of $9.52 and a 52-week high of $13.52. The stock’s 50 day moving average price is $11.68 and its 200-day moving average price is $11.85. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.86.

Primis Financial (NASDAQ:FRST) last released its earnings results on Tuesday, January 28th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.76). Primis Financial had a negative return on equity of 2.95% and a negative net margin of 2.97%. On average, equities research analysts anticipate that Primis Financial Corp. will post 1.08 EPS for the current year.

Primis Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.65%.

Institutional Trading of Primis Financial

Hedge funds have recently made changes to their positions in the business. Foundry Partners LLC raised its position in shares of Primis Financial by 14.5% during the 3rd quarter. Foundry Partners LLC now owns 393,575 shares of the company’s stock valued at $4,794,000 after buying an additional 49,735 shares in the last quarter. Geode Capital Management LLC grew its stake in Primis Financial by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock worth $5,679,000 after acquiring an additional 10,656 shares in the last quarter. Barclays PLC boosted its stake in shares of Primis Financial by 243.8% during the third quarter. Barclays PLC now owns 27,441 shares of the company’s stock valued at $334,000 after purchasing an additional 19,460 shares in the last quarter. State Street Corp boosted its stake in shares of Primis Financial by 2.6% during the third quarter. State Street Corp now owns 423,407 shares of the company’s stock valued at $5,157,000 after purchasing an additional 10,923 shares in the last quarter. Finally, Inspire Investing LLC bought a new position in shares of Primis Financial during the third quarter valued at approximately $828,000. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stephens decreased their price objective on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

About Primis Financial

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.