Primis Financial (NASDAQ:FRST) Now Covered by Keefe, Bruyette & Woods

Investment analysts at Keefe, Bruyette & Woods began coverage on shares of Primis Financial (NASDAQ:FRST) in a research note issued on Monday. The brokerage set an “outperform” rating and a $17.00 price target on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 21.08% from the company’s current price.

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

Primis Financial Stock Performance

FRST opened at $14.04 on Monday. The company has a market cap of $347.77 million, a PE ratio of 7.27 and a beta of 0.72. The stock has a 50-day moving average of $13.43 and a 200-day moving average of $12.52. Primis Financial has a 52-week low of $7.59 and a 52-week high of $14.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 1.03.

Primis Financial (NASDAQ:FRST) last posted its earnings results on Thursday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The firm had revenue of $80.87 million during the quarter, compared to analyst estimates of $30.01 million. Primis Financial had a net margin of 18.78% and a return on equity of 3.99%. As a group, equities research analysts forecast that Primis Financial will post 1.4 earnings per share for the current fiscal year.

Insider Activity at Primis Financial

In other Primis Financial news, EVP Matthew Alan Switzer bought 2,500 shares of Primis Financial stock in a transaction dated Tuesday, February 3rd. The shares were acquired at an average cost of $14.06 per share, with a total value of $35,150.00. Following the acquisition, the executive vice president directly owned 96,226 shares of the company’s stock, valued at $1,352,937.56. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 7,025 shares of company stock valued at $92,961. 10.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Primis Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in Primis Financial by 27.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,786 shares of the company’s stock valued at $61,000 after acquiring an additional 1,231 shares during the last quarter. First Trust Advisors LP lifted its position in Primis Financial by 8.6% during the 2nd quarter. First Trust Advisors LP now owns 16,623 shares of the company’s stock valued at $180,000 after purchasing an additional 1,313 shares during the period. Barclays PLC lifted its position in Primis Financial by 4.2% during the 4th quarter. Barclays PLC now owns 32,660 shares of the company’s stock valued at $454,000 after purchasing an additional 1,331 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Primis Financial by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,072 shares of the company’s stock valued at $128,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Primis Financial by 4.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,768 shares of the company’s stock valued at $595,000 after purchasing an additional 1,667 shares during the last quarter. Institutional investors own 74.96% of the company’s stock.

About Primis Financial

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.