Keefe, Bruyette & Woods Upgrades Primis Financial (NASDAQ:FRST) to Moderate Buy

Primis Financial (NASDAQ:FRST) was upgraded by stock analysts at Keefe, Bruyette & Woods to a “moderate buy” rating in a research report issued on Sunday,Zacks.com reports.

A number of other research firms have also recently commented on FRST. Weiss Ratings upgraded Primis Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Wall Street Zen cut Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Primis Financial Stock Up 0.7%

Primis Financial stock opened at $14.14 on Friday. Primis Financial has a 1-year low of $7.59 and a 1-year high of $14.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.98. The stock has a market cap of $350.25 million, a PE ratio of 7.33 and a beta of 0.72. The stock’s fifty day moving average is $13.43 and its two-hundred day moving average is $12.54.

Primis Financial (NASDAQ:FRST) last posted its earnings results on Thursday, January 29th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). Primis Financial had a return on equity of 3.99% and a net margin of 18.78%.The firm had revenue of $80.87 million for the quarter, compared to analyst estimates of $30.01 million. On average, sell-side analysts expect that Primis Financial will post 1.65 EPS for the current fiscal year.

Insider Activity

In related news, EVP Matthew Alan Switzer purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were purchased at an average price of $14.06 per share, with a total value of $35,150.00. Following the completion of the acquisition, the executive vice president directly owned 96,226 shares in the company, valued at $1,352,937.56. This represents a 2.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 7,025 shares of company stock worth $92,961 over the last 90 days. Company insiders own 10.87% of the company’s stock.

Hedge Funds Weigh In On Primis Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Primis Financial during the second quarter worth about $25,000. Russell Investments Group Ltd. grew its holdings in shares of Primis Financial by 290.2% during the third quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company’s stock worth $25,000 after buying an additional 1,744 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Primis Financial by 27.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,786 shares of the company’s stock worth $61,000 after buying an additional 1,231 shares during the last quarter. Commonwealth Retirement Investments LLC purchased a new position in shares of Primis Financial during the fourth quarter worth about $82,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Primis Financial by 141.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 6,733 shares of the company’s stock worth $94,000 after buying an additional 3,950 shares during the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Primis Financial Company Profile

Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.

Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.