66,750 Shares in Primis Financial Corp. (NASDAQ:FRST) Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC bought a new position in Primis Financial Corp. (NASDAQ:FRST - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 66,750 shares of the company's stock, valued at approximately $778,000. Cary Street Partners Financial LLC owned about 0.27% of Primis Financial as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FRST. BNP Paribas Financial Markets bought a new position in shares of Primis Financial during the 4th quarter valued at about $51,000. Wells Fargo & Company MN lifted its holdings in Primis Financial by 25.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,639 shares of the company's stock worth $147,000 after buying an additional 2,585 shares during the period. Marshall Wace LLP purchased a new stake in Primis Financial in the 4th quarter worth approximately $148,000. Oxford Asset Management LLP purchased a new stake in Primis Financial in the 4th quarter worth approximately $162,000. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Primis Financial in the 4th quarter valued at approximately $194,000. 74.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Maxim Group started coverage on Primis Financial in a research note on Monday. They issued a "buy" rating and a $1.00 target price for the company.

Insider Activity at Primis Financial

In related news, Director John Fitzgerald Biagas acquired 10,000 shares of Primis Financial stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $9.97 per share, with a total value of $99,700.00. Following the transaction, the director now directly owns 88,469 shares in the company, valued at approximately $882,035.93. This represents a 12.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.89% of the stock is owned by corporate insiders.

Primis Financial Stock Up 1.3%

Shares of FRST traded up $0.12 on Wednesday, reaching $9.45. The stock had a trading volume of 48,021 shares, compared to its average volume of 73,309. The firm has a market capitalization of $233.63 million, a price-to-earnings ratio of -31.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 0.99. The company has a 50-day simple moving average of $9.05 and a 200-day simple moving average of $10.67. Primis Financial Corp. has a 12-month low of $7.59 and a 12-month high of $13.52.

Primis Financial (NASDAQ:FRST - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.12). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.05%. The company had revenue of $32.53 million for the quarter, compared to the consensus estimate of $26.90 million. Sell-side analysts predict that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Wednesday, May 14th. Primis Financial's dividend payout ratio (DPR) is presently -137.93%.

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.