Primis Financial (NASDAQ:FRST) Posts Earnings Results

Primis Financial (NASDAQ:FRST) posted its quarterly earnings data on Thursday. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.15), FiscalAI reports. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. The company had revenue of $55.79 million for the quarter, compared to the consensus estimate of $48.77 million.

Primis Financial Trading Down 0.3%

Shares of NASDAQ:FRST traded down $0.05 during trading on Thursday, reaching $15.70. The company’s stock had a trading volume of 192,732 shares, compared to its average volume of 183,353. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Primis Financial has a 12 month low of $9.55 and a 12 month high of $16.77. The firm’s 50 day simple moving average is $15.29 and its two-hundred day simple moving average is $14.22. The stock has a market capitalization of $390.62 million, a PE ratio of 7.41 and a beta of 0.72.

Institutional Investors Weigh In On Primis Financial

Institutional investors have recently modified their holdings of the stock. Graham Capital Management L.P. bought a new stake in shares of Primis Financial in the 4th quarter worth about $154,000. Ieq Capital LLC grew its holdings in Primis Financial by 16.8% during the 4th quarter. Ieq Capital LLC now owns 14,259 shares of the company’s stock valued at $198,000 after purchasing an additional 2,051 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Primis Financial by 23.7% during the 4th quarter. MetLife Investment Management LLC now owns 10,241 shares of the company’s stock valued at $142,000 after purchasing an additional 1,959 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in Primis Financial in the 2nd quarter worth about $204,000. Finally, Jump Financial LLC bought a new position in shares of Primis Financial during the second quarter valued at approximately $129,000. 74.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FRST shares. Wall Street Zen cut shares of Primis Financial from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings upgraded Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Raymond James Financial began coverage on shares of Primis Financial in a research note on Thursday, June 25th. They set a “strong-buy” rating and a $19.00 price target on the stock. Finally, Keefe, Bruyette & Woods began coverage on Primis Financial in a research note on Monday, April 20th. They set an “outperform” rating and a $17.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $18.00.

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.