Primis Financial (NASDAQ:FRST) Stock Rating Upgraded by Raymond James Financial

Primis Financial (NASDAQ:FRST) was upgraded by analysts at Raymond James Financial to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also issued reports on FRST. Wall Street Zen lowered Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Keefe, Bruyette & Woods began coverage on shares of Primis Financial in a research report on Monday, April 20th. They set an “outperform” rating and a $17.00 price objective on the stock. Finally, 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. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $18.00.

Primis Financial Stock Up 5.7%

Shares of NASDAQ:FRST opened at $16.65 on Thursday. The stock has a fifty day simple moving average of $14.70 and a two-hundred day simple moving average of $13.86. The stock has a market capitalization of $412.45 million, a price-to-earnings ratio of 7.85 and a beta of 0.75. Primis Financial has a 12-month low of $9.55 and a 12-month high of $16.77. 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 (NASDAQ:FRST) last released its 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. Primis Financial had a return on equity of 4.98% and a net margin of 19.71%.The business had revenue of $45.63 million for the quarter, compared to the consensus estimate of $43.87 million. On average, research analysts anticipate that Primis Financial will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Primis Financial

Institutional investors have recently modified their holdings of the business. Patriot Financial Partners GP II L.P. bought a new stake in Primis Financial in the 3rd quarter worth about $12,796,000. North Reef Capital Management LP bought a new position in Primis Financial during the 3rd quarter valued at about $10,246,000. Alliancebernstein L.P. lifted its stake in Primis Financial by 44.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,091,037 shares of the company’s stock valued at $11,467,000 after acquiring an additional 336,149 shares during the period. Fourthstone LLC boosted its holdings in shares of Primis Financial by 31.9% during the 4th quarter. Fourthstone LLC now owns 932,437 shares of the company’s stock valued at $12,970,000 after acquiring an additional 225,504 shares during the last quarter. Finally, Mendon Capital Advisors Corp boosted its holdings in shares of Primis Financial by 16.6% during the 2nd quarter. Mendon Capital Advisors Corp now owns 1,301,933 shares of the company’s stock valued at $14,126,000 after acquiring an additional 185,083 shares during the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

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.