Primis Financial (NASDAQ:FRST) Director Robert Yates Clagett Buys 2,268 Shares of Stock

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett purchased 2,268 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $10.98 per share, with a total value of $24,902.64. Following the acquisition, the director owned 50,834 shares in the company, valued at approximately $558,157.32. The trade was a 4.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Robert Yates Clagett also recently made the following trade(s):

• On Tuesday, November 11th, Robert Yates Clagett acquired 1,830 shares of Primis Financial stock. The shares were purchased at an average price of $10.84 per share, with a total value of $19,837.20.

Primis Financial Trading Up 1.8%

NASDAQ FRST traded up $0.20 during mid-day trading on Thursday, reaching $10.99. 32,361 shares of the stock were exchanged, compared to its average volume of 89,512. The stock has a market cap of $270.70 million, a P/E ratio of 78.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.95. Primis Financial Corp. has a one year low of $7.59 and a one year high of $12.95. The stock has a 50 day simple moving average of $10.60 and a 200-day simple moving average of $10.48.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). Primis Financial had a negative return on equity of 0.76% and a net margin of 1.31%.The business had revenue of $41.00 million for the quarter, compared to analyst estimates of $27.96 million. On average, analysts anticipate that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, November 7th. Primis Financial’s payout ratio is presently 285.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FRST shares. Zacks Research upgraded Primis Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Primis Financial in a report on Friday, October 31st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Primis Financial has a consensus rating of “Hold” and an average target price of $1.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Primis Financial in the 2nd quarter valued at about $25,000. Russell Investments Group Ltd. raised its stake in shares of Primis Financial by 290.2% in the third 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. lifted its holdings in shares of Primis Financial by 154.8% in the second quarter. PNC Financial Services Group Inc. now owns 4,555 shares of the company’s stock valued at $49,000 after purchasing an additional 2,767 shares in the last quarter. CWM LLC boosted its position in shares of Primis Financial by 135.7% during the third quarter. CWM LLC now owns 7,402 shares of the company’s stock valued at $78,000 after buying an additional 4,262 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Primis Financial by 278.2% during the third quarter. BNP Paribas Financial Markets now owns 7,742 shares of the company’s stock worth $81,000 after buying an additional 5,695 shares in the last quarter. Institutional investors and hedge funds 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.