Alliancebernstein L.P. Reduces Stake in Primis Financial Corp. (NASDAQ:FRST)

Alliancebernstein L.P. trimmed its holdings in shares of Primis Financial Corp. (NASDAQ:FRST - Free Report) by 47.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,462 shares of the company's stock after selling 169,260 shares during the quarter. Alliancebernstein L.P. owned approximately 0.76% of Primis Financial worth $2,186,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. PL Capital Advisors LLC raised its position in shares of Primis Financial by 1,066.0% in the 4th 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 in the last quarter. Geode Capital Management LLC grew its stake in Primis Financial by 2.3% in the third quarter. Geode Capital Management LLC now owns 466,212 shares of the company's stock valued at $5,679,000 after purchasing an additional 10,656 shares during the last quarter. State Street Corp raised its holdings in Primis Financial by 2.6% in the third quarter. State Street Corp now owns 423,407 shares of the company's stock worth $5,157,000 after purchasing an additional 10,923 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Primis Financial by 15.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 144,482 shares of the company's stock valued at $1,685,000 after buying an additional 19,454 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Primis Financial by 40.6% in the 4th quarter. JPMorgan Chase & Co. now owns 99,999 shares of the company's stock valued at $1,166,000 after buying an additional 28,887 shares in the last quarter. Hedge funds and other institutional investors own 74.96% of the company's stock.

Insider Transactions at Primis Financial

In related 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 cost of $9.97 per share, for a total transaction of $99,700.00. Following the completion of the purchase, the director now owns 88,469 shares of the company's stock, valued at approximately $882,035.93. This represents a 12.74 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have acquired 12,025 shares of company stock worth $122,058. Insiders own 10.89% of the company's stock.

Primis Financial Stock Up 2.9 %

Shares of NASDAQ FRST traded up $0.24 during trading hours on Tuesday, hitting $8.41. 61,569 shares of the stock were exchanged, compared to its average volume of 71,090. Primis Financial Corp. has a 12 month low of $7.75 and a 12 month high of $13.52. The firm has a fifty day moving average price of $9.61 and a 200-day moving average price of $10.99. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.24. The company has a market cap of $207.92 million, a PE ratio of -28.03 and a beta of 0.59.

Primis Financial (NASDAQ:FRST - Get Free Report) last issued its quarterly earnings data 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 2.05%. On average, sell-side analysts expect that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.76%. The ex-dividend date was Wednesday, February 12th. Primis Financial's dividend payout ratio is presently -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.