Insider Buying: Primis Financial Corp. (NASDAQ:FRST) Director Buys $45,091.20 in Stock

Primis Financial Corp. (NASDAQ:FRST) Director F L. Garrett III acquired 3,660 shares of the business’s stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $12.32 per share, for a total transaction of $45,091.20. Following the transaction, the director now owns 41,169 shares of the company’s stock, valued at approximately $507,202.08. The trade was a 9.76 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Primis Financial Stock Performance

NASDAQ:FRST opened at $11.69 on Thursday. The company has a market capitalization of $289.01 million, a P/E ratio of 13.24 and a beta of 0.78. The business has a fifty day simple moving average of $12.12 and a two-hundred day simple moving average of $11.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.98. Primis Financial Corp. has a 1 year low of $9.52 and a 1 year high of $13.69.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.35). Primis Financial had a return on equity of 3.28% and a net margin of 6.00%. The business had revenue of $66.40 million during the quarter. During the same period in the previous year, the business posted $0.32 earnings per share. On average, analysts expect that Primis Financial Corp. will post 0.5 earnings per share for the current year.

Primis Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a yield of 3.42%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of Primis Financial by 243.8% in the third quarter. Barclays PLC now owns 27,441 shares of the company’s stock worth $334,000 after buying an additional 19,460 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Primis Financial by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock valued at $5,679,000 after purchasing an additional 10,656 shares during the period. State Street Corp grew its position in shares of Primis Financial by 2.6% during the 3rd 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. Fourthstone LLC increased its holdings in shares of Primis Financial by 271.5% in the third quarter. Fourthstone LLC now owns 247,194 shares of the company’s stock worth $3,011,000 after purchasing an additional 180,655 shares during the period. Finally, De Lisle Partners LLP raised its position in shares of Primis Financial by 109.5% in the third quarter. De Lisle Partners LLP now owns 21,016 shares of the company’s stock worth $256,000 after buying an additional 10,986 shares in the last quarter. Institutional investors own 74.96% of the company’s stock.

Primis Financial Company Profile

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.