Robert Yates Clagett Buys 1,421 Shares of Primis Financial (NASDAQ:FRST) Stock

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett bought 1,421 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $14.00 per share, with a total value of $19,894.00. Following the purchase, the director owned 53,665 shares in the company, valued at $751,310. This trade represents a 2.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Primis Financial Stock Up 1.6%

Shares of NASDAQ FRST opened at $14.37 on Friday. Primis Financial Corp. has a 52 week low of $9.19 and a 52 week high of $14.97. The business has a 50-day simple moving average of $13.74 and a two-hundred day simple moving average of $13.13. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. The company has a market cap of $355.94 million, a P/E ratio of 6.78 and a beta of 0.76.

Primis Financial (NASDAQ:FRST) last issued its earnings results on Thursday, April 23rd. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. Primis Financial had a return on equity of 4.98% and a net margin of 19.71%.The business had revenue of $45.63 million during the quarter, compared to the consensus estimate of $43.87 million. Research analysts anticipate that Primis Financial Corp. will post 1.65 earnings per share for the current fiscal year.

Primis Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be paid a $0.10 dividend. The ex-dividend date is Friday, May 8th. This represents a $0.40 annualized dividend and a yield of 2.8%. Primis Financial’s dividend payout ratio (DPR) is currently 18.87%.

Institutional Trading of Primis Financial

Institutional investors and hedge funds have recently modified their holdings of the business. North Reef Capital Management LP purchased a new stake in shares of Primis Financial in the 3rd quarter valued at about $10,246,000. Teton Advisors LLC purchased a new stake in shares of Primis Financial in the 3rd quarter valued at about $158,000. Strs Ohio raised its holdings in shares of Primis Financial by 7.9% in the 3rd quarter. Strs Ohio now owns 52,000 shares of the company’s stock valued at $547,000 after acquiring an additional 3,800 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Primis Financial by 141.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 6,733 shares of the company’s stock valued at $94,000 after acquiring an additional 3,950 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Primis Financial by 290.2% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FRST. Wall Street Zen downgraded Primis Financial from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings upgraded Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods assumed coverage on Primis Financial in a research note on Monday, April 20th. They issued an “outperform” rating and a $17.00 target price for the company. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.