Primis Financial (NASDAQ:FRST) Director Robert Yates Clagett Acquires 1,830 Shares

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett acquired 1,830 shares of Primis Financial stock in a transaction on Tuesday, November 11th. The shares were bought at an average cost of $10.84 per share, for a total transaction of $19,837.20. Following the completion of the purchase, the director directly owned 48,566 shares of the company’s stock, valued at $526,455.44. The trade was a 3.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Primis Financial Trading Up 1.6%

Shares of NASDAQ:FRST traded up $0.18 during trading on Thursday, hitting $10.97. The company had a trading volume of 8,688 shares, compared to its average volume of 89,413. The stock has a market cap of $270.21 million, a price-to-earnings ratio of 78.39 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. The company has a fifty day simple moving average of $10.60 and a two-hundred day simple moving average of $10.48. Primis Financial Corp. has a one year low of $7.59 and a one year high of $12.95.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) 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 company had revenue of $41.00 million during the quarter, compared to the consensus estimate of $27.96 million. As a group, equities analysts forecast that Primis Financial Corp. will post 1.4 earnings per share 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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, November 7th. Primis Financial’s payout ratio is 285.71%.

Wall Street Analyst Weigh In

FRST has been the topic of several research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Primis Financial in a report on Friday, October 31st. Zacks Research raised Primis Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $1.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted 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. Raymond James Financial Inc. purchased a new stake in shares of Primis Financial during the second quarter valued at about $25,000. PNC Financial Services Group Inc. lifted its position in shares of Primis Financial by 154.8% during the second quarter. PNC Financial Services Group Inc. now owns 4,555 shares of the company’s stock valued at $49,000 after buying an additional 2,767 shares during the last quarter. CWM LLC boosted 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 valued at $78,000 after buying an additional 4,262 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Primis Financial during the 2nd quarter worth approximately $122,000. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

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.