Primis Financial (NASDAQ:FRST) Director Scott Gamble Purchases 1,711 Shares

Primis Financial Corp. (NASDAQ:FRST) Director Scott Gamble purchased 1,711 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average cost of $14.59 per share, for a total transaction of $24,963.49. Following the completion of the purchase, the director directly owned 3,100 shares of the company’s stock, valued at approximately $45,229. The trade was a 123.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Primis Financial Trading Up 2.7%

NASDAQ FRST traded up $0.39 during trading hours on Thursday, hitting $14.77. 63,821 shares of the company’s stock were exchanged, compared to its average volume of 161,566. The business’s 50 day moving average is $14.04 and its 200-day moving average is $13.36. Primis Financial Corp. has a 12-month low of $9.34 and a 12-month high of $15.10. The firm has a market capitalization of $365.85 million, a P/E ratio of 6.96 and a beta of 0.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 1.02.

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

Primis Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.10 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.40 annualized dividend and a yield of 2.7%. Primis Financial’s payout ratio is 18.87%.

Institutional Investors Weigh In On Primis Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC bought a new stake in Primis Financial during the 1st quarter worth $1,303,000. Empowered Funds LLC grew its position in Primis Financial by 9.7% during the 1st quarter. Empowered Funds LLC now owns 46,907 shares of the company’s stock worth $623,000 after acquiring an additional 4,139 shares during the last quarter. Quantinno Capital Management LP grew its position in Primis Financial by 25.7% during the 1st quarter. Quantinno Capital Management LP now owns 50,363 shares of the company’s stock worth $669,000 after acquiring an additional 10,298 shares during the last quarter. Mendon Capital Advisors Corp grew its position in shares of Primis Financial by 0.6% in the 1st quarter. Mendon Capital Advisors Corp now owns 1,224,543 shares of the company’s stock valued at $16,262,000 after buying an additional 7,216 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Primis Financial by 15.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 171,309 shares of the company’s stock valued at $2,275,000 after buying an additional 22,793 shares during the last quarter. Institutional investors own 74.96% of the company’s stock.

Analysts Set New Price Targets

FRST has been the topic of several research reports. Wall Street Zen cut shares of Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Keefe, Bruyette & Woods assumed coverage on Primis Financial in a research note on Monday, April 20th. They set an “outperform” rating and a $17.00 target price for the company. Finally, Weiss Ratings upgraded Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

About Primis Financial

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.