John Fitzgerald Biagas Purchases 1,805 Shares of Primis Financial Corp. (NASDAQ:FRST) Stock

Primis Financial Corp. (NASDAQ:FRST) Director John Fitzgerald Biagas bought 1,805 shares of Primis Financial stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average cost of $11.04 per share, with a total value of $19,927.20. Following the acquisition, the director now owns 76,171 shares of the company’s stock, valued at $840,927.84. The trade was a 2.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Primis Financial Trading Up 0.7 %

Shares of NASDAQ FRST traded up $0.08 during trading on Tuesday, hitting $10.97. The company had a trading volume of 26,177 shares, compared to its average volume of 59,387. The stock has a fifty day simple moving average of $11.68 and a two-hundred day simple moving average of $11.85. Primis Financial Corp. has a fifty-two week low of $9.52 and a fifty-two week high of $13.52. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.24.

Primis Financial (NASDAQ:FRST) last announced its earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.76). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.95%. Analysts predict that Primis Financial Corp. will post 1.08 EPS for the current fiscal year.

Primis Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a yield of 3.65%.

Analyst Upgrades and Downgrades

Separately, Stephens reduced their target price on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

Hedge Funds Weigh In On Primis Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Fourthstone LLC raised its stake in Primis Financial by 271.5% during the third quarter. Fourthstone LLC now owns 247,194 shares of the company’s stock worth $3,011,000 after purchasing an additional 180,655 shares during the period. Inspire Investing LLC purchased a new position in Primis Financial during the third quarter worth about $828,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Primis Financial by 91.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,028 shares of the company’s stock worth $1,523,000 after purchasing an additional 59,746 shares during the period. Foundry Partners LLC raised its stake in Primis Financial by 14.5% during the third quarter. Foundry Partners LLC now owns 393,575 shares of the company’s stock worth $4,794,000 after purchasing an additional 49,735 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Primis Financial by 120.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock valued at $866,000 after acquiring an additional 38,792 shares during the period. 74.96% of the stock is currently owned by institutional investors and hedge funds.

About Primis Financial

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits.