PL Capital Advisors LLC Has $6.14 Million Stock Position in Primis Financial Corp. (NASDAQ:FRST)

PL Capital Advisors LLC lowered its stake in shares of Primis Financial Corp. (NASDAQ:FRST) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 485,241 shares of the company’s stock after selling 25,000 shares during the quarter. Primis Financial accounts for approximately 2.1% of PL Capital Advisors LLC’s portfolio, making the stock its 15th biggest position. PL Capital Advisors LLC’s holdings in Primis Financial were worth $6,143,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Anchor Investment Management LLC acquired a new stake in shares of Primis Financial in the 4th quarter worth about $127,000. SG Americas Securities LLC acquired a new stake in shares of Primis Financial in the 4th quarter worth about $140,000. Citigroup Inc. raised its holdings in shares of Primis Financial by 112.1% in the 3rd quarter. Citigroup Inc. now owns 45,619 shares of the company’s stock worth $372,000 after acquiring an additional 24,111 shares during the last quarter. Finally, ELCO Management Co. LLC raised its holdings in shares of Primis Financial by 77.0% in the 3rd quarter. ELCO Management Co. LLC now owns 55,632 shares of the company’s stock worth $453,000 after acquiring an additional 24,210 shares during the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

Primis Financial Trading Down 4.9 %

FRST opened at $10.17 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.97. Primis Financial Corp. has a fifty-two week low of $7.01 and a fifty-two week high of $13.69. The firm has a market capitalization of $251.00 million, a PE ratio of 11.83 and a beta of 0.73. The company’s 50-day moving average is $11.67 and its 200 day moving average is $11.24.

Primis Financial (NASDAQ:FRST) last posted its earnings results on Thursday, January 25th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. Primis Financial had a net margin of 8.73% and a return on equity of 5.90%. The company had revenue of $39.24 million for the quarter, compared to analyst estimates of $36.17 million. As a group, research analysts predict that Primis Financial Corp. will post 1.57 earnings per share for the current fiscal year.

Primis Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.40 annualized dividend and a yield of 3.93%. Primis Financial’s dividend payout ratio (DPR) is 46.51%.

Analyst Ratings Changes

Separately, TheStreet upgraded shares of Primis Financial from a “c” rating to a “b” rating in a report on Friday, January 26th.

Insider Buying and Selling at Primis Financial

In other news, Director Charles A. Kabbash acquired 3,390 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was purchased at an average price of $12.51 per share, for a total transaction of $42,408.90. Following the purchase, the director now owns 76,183 shares in the company, valued at approximately $953,049.33. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders bought 7,500 shares of company stock worth $91,631. Insiders own 11.08% of the company’s stock.

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.