Primis Financial Corp. (NASDAQ:FRST) Short Interest Update

Primis Financial Corp. (NASDAQ:FRST) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 90,100 shares, an increase of 11.2% from the October 31st total of 81,000 shares. Based on an average daily volume of 62,400 shares, the short-interest ratio is currently 1.4 days. Currently, 0.5% of the shares of the company are short sold.

Hedge Funds Weigh In On Primis Financial

Hedge funds have recently added to or reduced their stakes in the company. Princeton Capital Management LLC bought a new position in Primis Financial during the 2nd quarter valued at about $105,000. Mackenzie Financial Corp bought a new position in Primis Financial during the 2nd quarter valued at about $106,000. Northwestern Mutual Wealth Management Co. bought a new position in Primis Financial during the 2nd quarter valued at about $144,000. AQR Capital Management LLC grew its holdings in 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 purchasing an additional 6,783 shares during the last quarter. Finally, De Lisle Partners LLP grew its holdings in Primis Financial by 109.5% during the 3rd quarter. De Lisle Partners LLP now owns 21,016 shares of the company’s stock valued at $256,000 after purchasing an additional 10,986 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors.

Primis Financial Price Performance

FRST stock traded up $0.01 during mid-day trading on Monday, hitting $12.51. The company had a trading volume of 84,391 shares, compared to its average volume of 66,420. The company has a market capitalization of $309.28 million, a price-to-earnings ratio of 13.30 and a beta of 0.75. Primis Financial has a 12-month low of $9.52 and a 12-month high of $13.69. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $11.98 and a 200 day moving average price of $11.49.

Primis Financial (NASDAQ:FRST) last posted its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). Primis Financial had a return on equity of 4.65% and a net margin of 7.31%. The business had revenue of $66.40 million during the quarter. During the same quarter in the previous year, the business posted $0.32 EPS. On average, research analysts anticipate that Primis Financial will post 0.5 earnings per share for the current year.

Primis Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.20%.

Analyst Ratings Changes

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

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.