Insider Buying: Primis Financial Corp. (NASDAQ:FRST) Director Buys 1,805 Shares of Stock

Primis Financial Corp. (NASDAQ:FRST) Director John Fitzgerald Biagas purchased 1,805 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average price of $11.04 per share, with a total value of $19,927.20. Following the completion of the transaction, the director now directly owns 76,171 shares of the company’s stock, valued at $840,927.84. This represents a 2.43 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Primis Financial Trading Up 1.3 %

FRST stock opened at $11.15 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $11.60 and a two-hundred day moving average of $11.83. Primis Financial Corp. has a 12 month low of $9.52 and a 12 month high of $13.52.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings results on Tuesday, January 28th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.76). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.95%. As a group, equities research analysts expect that Primis Financial Corp. will post 1.08 EPS for the current fiscal year.

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 3.59%.

Wall Street Analyst Weigh In

Separately, Stephens dropped their target price on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp acquired a new stake in Primis Financial during the second quarter worth about $106,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Primis Financial during the 2nd quarter worth approximately $144,000. AQR Capital Management LLC raised its position in shares of Primis Financial by 55.1% during the 2nd quarter. AQR Capital Management LLC now owns 19,097 shares of the company’s stock valued at $200,000 after buying an additional 6,783 shares during the period. De Lisle Partners LLP lifted its holdings in Primis Financial by 109.5% in the third quarter. De Lisle Partners LLP now owns 21,016 shares of the company’s stock valued at $256,000 after acquiring an additional 10,986 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Primis Financial by 243.8% in the third quarter. Barclays PLC now owns 27,441 shares of the company’s stock valued at $334,000 after acquiring an additional 19,460 shares during the last quarter. Institutional investors and hedge funds own 74.96% 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.