Cary Street Partners Financial LLC Acquires New Stake in Primis Financial Corp. (NASDAQ:FRST)

Cary Street Partners Financial LLC bought a new stake in Primis Financial Corp. (NASDAQ:FRST - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 66,750 shares of the company's stock, valued at approximately $778,000. Cary Street Partners Financial LLC owned 0.27% of Primis Financial as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Primis Financial by 4.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,968 shares of the company's stock worth $362,000 after buying an additional 1,405 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Primis Financial by 25.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,639 shares of the company's stock valued at $147,000 after purchasing an additional 2,585 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Primis Financial during the 4th quarter worth about $51,000. Barclays PLC grew its stake in shares of Primis Financial by 19.5% in the 4th quarter. Barclays PLC now owns 32,786 shares of the company's stock valued at $382,000 after buying an additional 5,345 shares during the period. Finally, Bank of America Corp DE raised its stake in Primis Financial by 39.3% during the 4th quarter. Bank of America Corp DE now owns 26,039 shares of the company's stock worth $304,000 after buying an additional 7,350 shares during the period. 74.96% of the stock is owned by institutional investors.

Primis Financial Stock Down 1.3 %

Primis Financial stock traded down $0.12 during mid-day trading on Friday, reaching $8.96. The stock had a trading volume of 61,319 shares, compared to its average volume of 73,254. Primis Financial Corp. has a fifty-two week low of $7.59 and a fifty-two week high of $13.52. The stock's 50-day simple moving average is $9.08 and its 200-day simple moving average is $10.69. 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 firm has a market capitalization of $221.52 million, a PE ratio of -29.87 and a beta of 0.65.

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

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Wednesday, May 14th. Primis Financial's payout ratio is currently -137.93%.

Insider Buying and Selling at Primis Financial

In other Primis Financial news, Director John Fitzgerald Biagas bought 10,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $9.97 per share, for a total transaction of $99,700.00. Following the purchase, the director now directly owns 88,469 shares of the company's stock, valued at approximately $882,035.93. This represents a 12.74 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.89% of the company's stock.

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.