Fourthstone LLC Grows Stake in Primis Financial Corp. (NASDAQ:FRST)

Fourthstone LLC boosted its position in shares of Primis Financial Corp. (NASDAQ:FRST) by 263.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 898,014 shares of the company’s stock after purchasing an additional 650,820 shares during the quarter. Primis Financial makes up 2.0% of Fourthstone LLC’s portfolio, making the stock its 12th biggest holding. Fourthstone LLC owned 3.63% of Primis Financial worth $10,471,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Primis Financial by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock worth $5,679,000 after buying an additional 10,656 shares in the last quarter. Rhumbline Advisers raised its position in Primis Financial by 94.3% during the fourth quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock worth $826,000 after acquiring an additional 34,394 shares during the last quarter. Barclays PLC lifted its holdings in shares of 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 purchasing an additional 19,460 shares in the last quarter. State Street Corp grew its position in shares of Primis Financial by 2.6% in the third quarter. State Street Corp now owns 423,407 shares of the company’s stock valued at $5,157,000 after purchasing an additional 10,923 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Primis Financial by 120.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock worth $866,000 after purchasing an additional 38,792 shares in the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

Primis Financial Trading Down 0.4 %

Shares of Primis Financial stock opened at $8.21 on Thursday. The business has a 50 day moving average price of $9.84 and a 200 day moving average price of $11.10. The company has a market capitalization of $202.98 million, a P/E ratio of -27.37 and a beta of 0.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.86. Primis Financial Corp. has a 1 year low of $7.75 and a 1 year high of $13.52.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.76). Primis Financial had a negative return on equity of 2.05% and a negative net margin of 2.97%. Sell-side analysts anticipate that Primis Financial Corp. will post 1.4 EPS for the current fiscal year.

Primis Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.87%. Primis Financial’s dividend payout ratio (DPR) is presently -133.33%.

Insider Activity

In other Primis Financial news, Director John Fitzgerald Biagas acquired 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $9.97 per share, with a total value of $99,700.00. Following the completion of the transaction, the director now directly owns 88,469 shares in the company, valued at approximately $882,035.93. This trade represents a 12.74 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders bought a total of 12,025 shares of company stock valued at $122,058 over the last 90 days. Insiders own 10.89% of the company’s stock.

Primis Financial Profile

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.