Primis Financial Corp. (NASDAQ:FRST) Shares Bought by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp raised its position in shares of Primis Financial Corp. (NASDAQ:FRST) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,051,728 shares of the company’s stock after purchasing an additional 106,721 shares during the quarter. Primis Financial accounts for 6.0% of Mendon Capital Advisors Corp’s portfolio, making the stock its 3rd largest position. Mendon Capital Advisors Corp owned approximately 4.25% of Primis Financial worth $12,263,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN raised its position in Primis Financial by 25.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,639 shares of the company’s stock worth $147,000 after buying an additional 2,585 shares during the last quarter. Barclays PLC raised its holdings in shares of Primis Financial by 19.5% during the fourth quarter. Barclays PLC now owns 32,786 shares of the company’s stock worth $382,000 after purchasing an additional 5,345 shares during the last quarter. ELCO Management Co. LLC lifted its position in Primis Financial by 9.7% during the fourth quarter. ELCO Management Co. LLC now owns 84,008 shares of the company’s stock valued at $980,000 after purchasing an additional 7,422 shares during the period. Victory Capital Management Inc. boosted its holdings in Primis Financial by 12.8% in the fourth quarter. Victory Capital Management Inc. now owns 88,000 shares of the company’s stock valued at $1,026,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Primis Financial by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock valued at $5,679,000 after buying an additional 10,656 shares during the last quarter. 74.96% of the stock is owned by institutional investors and hedge funds.

Primis Financial Price Performance

Primis Financial stock opened at $8.17 on Tuesday. Primis Financial Corp. has a 52 week low of $7.75 and a 52 week high of $13.52. The firm has a market cap of $201.99 million, a price-to-earnings ratio of -27.23 and a beta of 0.59. The business’s 50-day moving average price is $9.66 and its 200 day moving average price is $11.01. 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 posted its earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share 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 2.05%. As a group, sell-side analysts anticipate that Primis Financial Corp. will post 1.4 earnings per share for the current year.

Primis Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 4.90%. Primis Financial’s dividend payout ratio is presently -133.33%.

Insiders Place Their Bets

In related news, Director John Fitzgerald Biagas bought 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $9.97 per share, for a total transaction of $99,700.00. Following the acquisition, the director now directly owns 88,469 shares in the company, valued at approximately $882,035.93. This trade represents a 12.74 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 12,025 shares of company stock worth $122,058. 10.89% of the stock is owned by corporate insiders.

Primis Financial Company Profile

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.