Primis Financial (NASDAQ:FRST) Rating Increased to Moderate Buy at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Primis Financial (NASDAQ:FRST) to a moderate buy rating in a research report sent to investors on Sunday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings raised shares of Primis Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Wall Street Zen downgraded Primis Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Primis Financial Trading Up 0.7%

FRST 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 current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a market cap of $350.25 million, a P/E ratio of 7.33 and a beta of 0.72. The company has a fifty day moving average price of $13.43 and a two-hundred day moving average price of $12.54.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.24). Primis Financial had a net margin of 18.78% and a return on equity of 3.99%. The company had revenue of $80.87 million during the quarter, compared to the consensus estimate of $30.01 million. Analysts predict that Primis Financial will post 1.65 EPS for the current fiscal year.

Primis Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.40 annualized dividend and a dividend yield of 2.8%. Primis Financial’s payout ratio is presently 20.73%.

Insider Activity at Primis Financial

In other Primis Financial news, EVP Matthew Alan Switzer bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was bought at an average cost of $14.06 per share, with a total value of $35,150.00. Following the completion of the transaction, the executive vice president directly owned 96,226 shares in the company, valued at approximately $1,352,937.56. The trade was a 2.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have bought 7,025 shares of company stock worth $92,961 over the last ninety days. Insiders own 10.87% of the company’s stock.

Institutional Investors Weigh In On Primis Financial

Several institutional investors have recently bought and sold shares of FRST. Raymond James Financial Inc. bought a new stake in Primis Financial during the second quarter worth $25,000. Russell Investments Group Ltd. grew its holdings in 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 in the last quarter. PNC Financial Services Group Inc. grew its holdings in 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 in the last quarter. CWM LLC grew its holdings in 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 buying an additional 4,262 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in 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 buying an additional 5,695 shares in the last quarter. 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.