Scott Gamble Purchases 1,711 Shares of Primis Financial (NASDAQ:FRST) Stock

Primis Financial Corp. (NASDAQ:FRST) Director Scott Gamble bought 1,711 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average cost of $14.59 per share, for a total transaction of $24,963.49. Following the completion of the acquisition, the director owned 3,100 shares of the company’s stock, valued at $45,229. This trade represents a 123.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Primis Financial Stock Up 0.4%

Primis Financial stock opened at $15.00 on Friday. The business’s 50-day moving average price is $14.11 and its 200 day moving average price is $13.40. Primis Financial Corp. has a 52 week low of $9.55 and a 52 week high of $15.18. The firm has a market cap of $371.55 million, a price-to-earnings ratio of 7.08 and a beta of 0.75. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. The firm had revenue of $45.63 million for the quarter, compared to the consensus estimate of $43.87 million. As a group, sell-side analysts anticipate that Primis Financial Corp. will post 1.57 earnings per share for the current year.

Primis Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.40 dividend on an annualized basis and a yield of 2.7%. Primis Financial’s dividend payout ratio is 18.87%.

Institutional Investors Weigh In On Primis Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FRST. North Reef Capital Management LP acquired a new stake in shares of Primis Financial during the third quarter valued at about $10,246,000. Teton Advisors LLC purchased a new position in shares of Primis Financial in the third quarter valued at approximately $158,000. PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 1,231 shares during the period. GSA Capital Partners LLP lifted its stake in Primis Financial by 65.1% in the third quarter. GSA Capital Partners LLP now owns 78,347 shares of the company’s stock worth $823,000 after acquiring an additional 30,896 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in Primis Financial in the first quarter worth approximately $1,303,000. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FRST has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Primis Financial from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings raised shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Primis Financial in a report on Monday, April 20th. They set an “outperform” rating and a $17.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.00.

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.