Insider Buying: Primis Financial Corp. (NASDAQ:FRST) Director Buys $19,927.20 in Stock

Primis Financial Corp. (NASDAQ:FRST) Director John Fitzgerald Biagas acquired 1,805 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost of $11.04 per share, with a total value of $19,927.20. Following the acquisition, the director now owns 76,171 shares in the company, valued at approximately $840,927.84. This trade represents a 2.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Primis Financial Price Performance

FRST opened at $11.15 on Friday. The firm has a fifty day moving average price of $11.60 and a 200 day moving average price of $11.83. Primis Financial Corp. has a 1 year low of $9.52 and a 1 year high of $13.52. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings data 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 2.95% and a negative net margin of 2.97%. On average, research analysts anticipate that Primis Financial Corp. will post 1.08 earnings per share for the current year.

Primis Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Primis Financial

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in shares of Primis Financial by 12.8% during the 4th quarter. Victory Capital Management Inc. now owns 88,000 shares of the company’s stock valued at $1,026,000 after buying an additional 10,000 shares in the last quarter. PL Capital Advisors LLC raised its position in Primis Financial by 1,066.0% during the fourth quarter. PL Capital Advisors LLC now owns 5,541,310 shares of the company’s stock worth $64,612,000 after acquiring an additional 5,066,069 shares during the period. Rhumbline Advisers lifted its holdings in Primis Financial by 94.3% during the fourth quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock valued at $826,000 after purchasing an additional 34,394 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Primis Financial by 120.0% in the third quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock valued at $866,000 after purchasing an additional 38,792 shares during the period. Finally, Barclays PLC grew its position 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 during the period. 74.96% of the stock is owned by institutional investors and hedge funds.

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.