Primis Financial (NASDAQ:FRST) Director Scott Gamble Purchases 1,389 Shares of Stock

Primis Financial Corp. (NASDAQ:FRST) Director Scott Gamble bought 1,389 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $14.39 per share, with a total value of $19,987.71. Following the purchase, the director owned 1,389 shares of the company’s stock, valued at $19,987.71. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Primis Financial Price Performance

FRST stock opened at $14.89 on Wednesday. The business has a 50 day moving average price of $13.97 and a 200 day moving average price of $13.31. The stock has a market cap of $368.83 million, a price-to-earnings ratio of 7.02 and a beta of 0.75. Primis Financial Corp. has a fifty-two week low of $9.29 and a fifty-two week high of $15.10. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16.

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

Primis Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a dividend of $0.10 per share. 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 presently 18.87%.

Wall Street Analyst Weigh In

FRST has been the topic of several research analyst reports. Keefe, Bruyette & Woods initiated coverage on Primis Financial in a research report on Monday, April 20th. They set an “outperform” rating and a $17.00 price target on the stock. Weiss Ratings raised Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Wall Street Zen lowered Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Two investment 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FRST. Royal Bank of Canada increased its position in Primis Financial by 12.6% during the first quarter. Royal Bank of Canada now owns 24,875 shares of the company’s stock worth $243,000 after buying an additional 2,790 shares during the period. AQR Capital Management LLC increased its position in Primis Financial by 25.5% during the first quarter. AQR Capital Management LLC now owns 23,904 shares of the company’s stock worth $234,000 after buying an additional 4,864 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Primis Financial by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,072 shares of the company’s stock worth $128,000 after buying an additional 1,370 shares during the period. Goldman Sachs Group Inc. increased its position in Primis Financial by 170.4% during the first quarter. Goldman Sachs Group Inc. now owns 248,639 shares of the company’s stock worth $2,429,000 after buying an additional 156,703 shares during the period. Finally, Empowered Funds LLC increased its position in Primis Financial by 65.3% during the first quarter. Empowered Funds LLC now owns 26,621 shares of the company’s stock worth $260,000 after buying an additional 10,515 shares during the period. Institutional investors and hedge funds own 74.96% of the company’s stock.

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.