Deborah Diaz Purchases 1,050 Shares of Primis Financial (NASDAQ:FRST) Stock

Primis Financial Corp. (NASDAQ:FRST) Director Deborah Diaz acquired 1,050 shares of Primis Financial stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $12.77 per share, for a total transaction of $13,408.50. Following the completion of the acquisition, the director owned 21,122 shares in the company, valued at $269,727.94. This trade represents a 5.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Primis Financial Trading Down 0.5%

Shares of FRST stock opened at $12.78 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $314.90 million, a PE ratio of 6.62 and a beta of 0.75. The company has a 50-day moving average of $13.56 and a two-hundred day moving average of $12.07. Primis Financial Corp. has a 1-year low of $7.59 and a 1-year high of $14.55.

Primis Financial (NASDAQ:FRST) last released its quarterly 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). Primis Financial had a net margin of 18.78% and a return on equity of 4.11%. The company had revenue of $80.87 million during the quarter, compared to analysts’ expectations of $30.01 million. On average, analysts predict that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, February 13th. Primis Financial’s dividend payout ratio (DPR) is 20.73%.

Primis Financial announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 18th that permits the company to repurchase $750,000.00 in outstanding shares. This repurchase authorization permits the company to buy up to 0.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Primis Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FRST. Russell Investments Group Ltd. lifted its position in Primis Financial by 290.2% in the third quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company’s stock valued at $25,000 after acquiring an additional 1,744 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Primis Financial during the second quarter worth about $25,000. PNC Financial Services Group Inc. grew its holdings 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 worth $49,000 after purchasing an additional 2,767 shares during the last quarter. CWM LLC increased 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 worth $78,000 after purchasing an additional 4,262 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of 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 purchasing an additional 5,695 shares in the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on FRST shares. Weiss Ratings restated a “hold (c)” rating on shares of Primis Financial in a research report on Monday, December 29th. Wall Street Zen downgraded Primis Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1.00.

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.