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

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett purchased 1,421 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $14.00 per share, for a total transaction of $19,894.00. Following the purchase, the director owned 53,665 shares in the company, valued at approximately $751,310. This represents a 2.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Primis Financial Price Performance

FRST stock traded up $0.13 during mid-day trading on Wednesday, hitting $14.15. The company had a trading volume of 247,852 shares, compared to its average volume of 156,825. The company has a market capitalization of $350.50 million, a price-to-earnings ratio of 6.67 and a beta of 0.76. Primis Financial Corp. has a 12-month low of $9.19 and a 12-month high of $14.97. 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 50-day moving average price of $13.69 and a 200 day moving average price of $13.08.

Primis Financial (NASDAQ:FRST) last announced its quarterly 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. The business had revenue of $45.63 million for the quarter, compared to analysts’ expectations of $43.87 million. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. On average, research analysts anticipate that Primis Financial Corp. will post 1.65 earnings per share for the current year.

Primis Financial Announces Dividend

The business also recently declared 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 payout ratio is presently 18.87%.

Analysts Set New Price Targets

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

Institutional Trading of Primis Financial

Several hedge funds have recently made changes to their positions in the business. Strs Ohio raised its position in shares of Primis Financial by 2.6% during the 1st quarter. Strs Ohio now owns 44,000 shares of the company’s stock valued at $584,000 after buying an additional 1,100 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Primis Financial by 27.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,786 shares of the company’s stock valued at $61,000 after buying an additional 1,231 shares in the last quarter. First Trust Advisors LP raised its position in shares of Primis Financial by 8.6% during the 2nd quarter. First Trust Advisors LP now owns 16,623 shares of the company’s stock valued at $180,000 after buying an additional 1,313 shares in the last quarter. Barclays PLC raised its position in shares of Primis Financial by 4.2% during the 4th quarter. Barclays PLC now owns 32,660 shares of the company’s stock valued at $454,000 after buying an additional 1,331 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Primis Financial by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,072 shares of the company’s stock valued at $128,000 after buying an additional 1,370 shares in the last quarter. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

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.