Robert Yates Clagett Purchases 1,421 Shares of Primis Financial (NASDAQ:FRST) Stock

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett purchased 1,421 shares of Primis Financial stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $14.00 per share, with a total value of $19,894.00. Following the transaction, the director directly owned 53,665 shares of the company’s stock, valued at $751,310. This represents a 2.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Primis Financial Stock Up 0.9%

Shares of FRST traded up $0.13 on Wednesday, hitting $14.15. 247,852 shares of the stock traded hands, compared to its average volume of 156,825. The company has a market capitalization of $350.50 million, a PE ratio of 6.67 and a beta of 0.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 1.02. The business has a 50 day simple moving average of $13.69 and a 200 day simple moving average of $13.08. Primis Financial Corp. has a one year low of $9.19 and a one year high of $14.97.

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

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.8%. Primis Financial’s payout ratio is currently 18.87%.

Institutional Investors Weigh In On Primis Financial

A number of hedge funds have recently modified their holdings of FRST. Russell Investments Group Ltd. lifted its stake in shares of Primis Financial by 290.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company’s stock valued at $25,000 after buying an additional 1,744 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Primis Financial during the 2nd quarter valued at $25,000. PNC Financial Services Group Inc. lifted its stake 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. BNP Paribas Financial Markets lifted its stake in shares of Primis Financial by 278.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,742 shares of the company’s stock valued at $81,000 after buying an additional 5,695 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC purchased a new position in shares of Primis Financial during the 4th quarter valued at $82,000. Institutional investors own 74.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FRST. Wall Street Zen downgraded shares of Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday. Keefe, Bruyette & Woods began coverage on shares of Primis Financial in a research report on Monday, April 20th. They issued an “outperform” rating and a $17.00 target price for the company. Finally, Weiss Ratings raised shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Primis Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

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.