Primis Financial Corp. (NASDAQ:FRST) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its stake in Primis Financial Corp. (NASDAQ:FRST - Free Report) by 33.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 132,336 shares of the company's stock after selling 65,162 shares during the period. Arrowstreet Capital Limited Partnership owned 0.54% of Primis Financial worth $1,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FRST. Barclays PLC raised its stake in Primis Financial by 243.8% during the third quarter. Barclays PLC now owns 27,441 shares of the company's stock worth $334,000 after acquiring an additional 19,460 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Primis Financial by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 59,324 shares of the company's stock valued at $723,000 after buying an additional 2,708 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of 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 acquiring an additional 34,394 shares during the period. JPMorgan Chase & Co. grew its position in shares of Primis Financial by 120.0% during the third quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company's stock worth $866,000 after acquiring an additional 38,792 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Primis Financial by 12.8% in the 4th quarter. Victory Capital Management Inc. now owns 88,000 shares of the company's stock worth $1,026,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds own 74.96% of the company's stock.

Insider Activity at Primis Financial

In other news, Director John Fitzgerald Biagas purchased 10,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $9.97 per share, with a total value of $99,700.00. Following the purchase, the director now owns 88,469 shares in the company, valued at $882,035.93. This trade represents a 12.74 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased 12,025 shares of company stock worth $122,058 in the last 90 days. Corporate insiders own 10.89% of the company's stock.

Primis Financial Stock Performance

Primis Financial stock traded down $0.09 during midday trading on Wednesday, reaching $8.15. 3,907 shares of the stock traded hands, compared to its average volume of 70,830. The firm has a fifty day moving average price of $9.90 and a two-hundred day moving average price of $11.12. Primis Financial Corp. has a fifty-two week low of $6.63 and a fifty-two week high of $13.52. The firm has a market cap of $201.49 million, a price-to-earnings ratio of -27.17 and a beta of 0.59. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported ($0.65) earnings per share (EPS) 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%. On average, equities research analysts forecast that Primis Financial Corp. will post 1.4 earnings per share for the current year.

Primis Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend was Wednesday, February 12th. Primis Financial's payout ratio is currently -133.33%.

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.