Algert Global LLC bought a new position in shares of Primis Financial Corp. (NASDAQ:FRST - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 211,466 shares of the company's stock, valued at approximately $3,462,000. Algert Global LLC owned 0.85% of Primis Financial at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of FRST. Russell Investments Group Ltd. raised its holdings in Primis Financial by 290.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company's stock worth $25,000 after buying an additional 1,744 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Primis Financial in the second quarter valued at approximately $25,000. BNP Paribas Financial Markets increased its position in shares of Primis Financial by 278.2% in the third quarter. BNP Paribas Financial Markets now owns 7,742 shares of the company's stock valued at $81,000 after acquiring an additional 5,695 shares during the last quarter. Commonwealth Retirement Investments LLC acquired a new stake in Primis Financial during the 4th quarter valued at $82,000. Finally, Public Employees Retirement System of Ohio grew its stake in Primis Financial by 141.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 6,733 shares of the company's stock valued at $94,000 after buying an additional 3,950 shares during the last quarter. Institutional investors own 74.96% of the company's stock.
Analyst Ratings Changes
A number of research analysts have commented on the company. Weiss Ratings raised Primis Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Raymond James Financial initiated coverage on shares of Primis Financial in a research report on Thursday, June 25th. They issued a "strong-buy" rating and a $19.00 target price for the company. Finally, Wall Street Zen downgraded shares of Primis Financial from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $18.00.
Read Our Latest Analysis on Primis Financial
Primis Financial Stock Performance
NASDAQ:FRST opened at $16.02 on Friday. The stock's 50-day simple moving average is $16.06 and its 200 day simple moving average is $14.70. The firm has a market capitalization of $397.30 million, a PE ratio of 7.42 and a beta of 0.73. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. Primis Financial Corp. has a twelve month low of $9.55 and a twelve month high of $16.88.
Primis Financial (NASDAQ:FRST - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.15). The company had revenue of $55.79 million for the quarter, compared to analyst estimates of $48.77 million. Primis Financial had a return on equity of 5.49% and a net margin of 19.19%. On average, analysts anticipate that Primis Financial Corp. will post 1.38 EPS for the current fiscal year.
Primis Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 7th. Primis Financial's payout ratio is currently 18.52%.
Primis Financial Profile
(
Free Report)
Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.
Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.
Further Reading
Want to see what other hedge funds are holding FRST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primis Financial Corp. (NASDAQ:FRST - Free Report).
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