Dimensional Fund Advisors LP Increases Stake in Primis Financial Corp. (NASDAQ:FRST)

Dimensional Fund Advisors LP grew its stake in Primis Financial Corp. (NASDAQ:FRST - Free Report) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,160,127 shares of the company's stock after purchasing an additional 28,930 shares during the period. Dimensional Fund Advisors LP owned about 4.69% of Primis Financial worth $13,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FRST. Barclays PLC grew 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 purchasing an additional 19,460 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Primis Financial by 120.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company's stock valued at $866,000 after acquiring an additional 38,792 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Primis Financial by 94.3% during the 4th quarter. Rhumbline Advisers now owns 70,869 shares of the company's stock valued at $826,000 after acquiring an additional 34,394 shares in the last quarter. PL Capital Advisors LLC boosted its position in Primis Financial by 1,066.0% in the fourth quarter. PL Capital Advisors LLC now owns 5,541,310 shares of the company's stock valued at $64,612,000 after buying an additional 5,066,069 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Primis Financial by 12.8% in the fourth quarter. Victory Capital Management Inc. now owns 88,000 shares of the company's stock valued at $1,026,000 after buying an additional 10,000 shares in the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Primis Financial Trading Up 1.3%

NASDAQ FRST traded up $0.12 during mid-day trading on Tuesday, reaching $9.44. 30,462 shares of the stock were exchanged, compared to its average volume of 92,344. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.86. Primis Financial Corp. has a one year low of $7.59 and a one year high of $13.52. The stock has a 50 day simple moving average of $9.07 and a 200-day simple moving average of $10.68. The stock has a market cap of $233.39 million, a P/E ratio of -31.47 and a beta of 0.65.

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

Primis Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders 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 4.24%. The ex-dividend date of this dividend is Wednesday, May 14th. Primis Financial's payout ratio is currently -137.93%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Primis Financial

In other Primis Financial 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 cost of $9.97 per share, for a total transaction of $99,700.00. Following the acquisition, the director now owns 88,469 shares of the company's stock, valued at $882,035.93. This represents a 12.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.89% of the company's stock.

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.