PL Capital Advisors LLC Boosts Stock Holdings in Primis Financial Corp. (NASDAQ:FRST)

PL Capital Advisors LLC increased its position in Primis Financial Corp. (NASDAQ:FRST) by 1,066.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,541,310 shares of the company’s stock after purchasing an additional 5,066,069 shares during the period. Primis Financial makes up about 0.8% of PL Capital Advisors LLC’s investment portfolio, making the stock its 17th largest position. PL Capital Advisors LLC owned 0.22% of Primis Financial worth $64,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of Primis Financial by 94.3% in the 4th quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock worth $826,000 after purchasing an additional 34,394 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Primis Financial by 120.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock worth $866,000 after buying an additional 38,792 shares in the last quarter. Barclays PLC raised its position in Primis Financial by 243.8% in the 3rd quarter. Barclays PLC now owns 27,441 shares of the company’s stock worth $334,000 after buying an additional 19,460 shares during the last quarter. Geode Capital Management LLC lifted its stake in Primis Financial by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock valued at $5,679,000 after acquiring an additional 10,656 shares during the period. Finally, State Street Corp boosted its holdings in shares of Primis Financial by 2.6% during the 3rd quarter. State Street Corp now owns 423,407 shares of the company’s stock valued at $5,157,000 after acquiring an additional 10,923 shares during the last quarter. 74.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Primis Financial

In other Primis Financial news, Director F L. Garrett III purchased 3,660 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $12.32 per share, for a total transaction of $45,091.20. Following the purchase, the director now directly owns 41,169 shares of the company’s stock, valued at $507,202.08. The trade was a 9.76 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders acquired 5,685 shares of company stock valued at $67,449. Insiders own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens decreased their price objective 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.

Primis Financial Price Performance

NASDAQ FRST opened at $10.58 on Wednesday. The stock has a market capitalization of $261.57 million, a price-to-earnings ratio of -35.27 and a beta of 0.78. Primis Financial Corp. has a 1-year low of $9.52 and a 1-year high of $13.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.86. The business’s fifty day moving average price is $11.21 and its 200-day moving average price is $11.70.

Primis Financial (NASDAQ:FRST) last posted its 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 net margin of 2.97% and a negative return on equity of 2.05%. On average, equities analysts predict that Primis Financial Corp. will post 1.4 earnings per share for the current year.

Primis Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.40 annualized dividend and a yield of 3.78%. Primis Financial’s dividend payout ratio (DPR) is -133.33%.

Primis Financial Company 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.