GSA Capital Partners LLP Invests $1.27 Million in Primis Financial Corp. $FRST

Key Points

• GSA Capital Partners acquired 77,480 shares of Primis Financial worth approximately $1.27 million, giving it a 0.31% stake. Institutional investors collectively own 74.96% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $18.00, compared with the stock’s opening price of $16.64.
• Primis Financial reported quarterly EPS of $0.23, below the $0.38 consensus estimate, despite revenue of $55.79 million exceeding expectations. The company also declared a quarterly dividend of $0.10 per share, representing a 2.4% annualized yield.

GSA Capital Partners LLP acquired a new position in Primis Financial Corp. (NASDAQ:FRST - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 77,480 shares of the company's stock, valued at approximately $1,268,000. GSA Capital Partners LLP owned about 0.31% of Primis Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FRST. Segall Bryant & Hamill LLC purchased a new position in shares of Primis Financial in the first quarter worth about $1,303,000. Maltese Capital Management LLC lifted its stake in shares of Primis Financial by 4.0% during the 4th quarter. Maltese Capital Management LLC now owns 1,026,500 shares of the company's stock valued at $14,279,000 after buying an additional 39,582 shares in the last quarter. Commonwealth Retirement Investments LLC purchased a new stake in shares of Primis Financial during the 4th quarter valued at approximately $82,000. Hillsdale Investment Management Inc. bought a new position in Primis Financial in the 4th quarter worth approximately $419,000. Finally, Raymond James Financial Inc. bought a new position in Primis Financial in the 2nd quarter worth approximately $25,000. 74.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FRST shares. Wall Street Zen cut shares of Primis Financial from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Raymond James Financial started coverage on Primis Financial in a research report on Thursday, June 25th. They issued a "strong-buy" rating and a $19.00 price target for the company. Keefe, Bruyette & Woods initiated coverage on Primis Financial in a research note on Monday, April 20th. They set an "outperform" rating and a $17.00 price objective on the stock. Finally, Weiss Ratings raised Primis Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $18.00.

Primis Financial Stock Performance

NASDAQ FRST opened at $16.64 on Tuesday. Primis Financial Corp. has a 1 year low of $9.55 and a 1 year high of $16.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a market capitalization of $412.67 million, a PE ratio of 7.70 and a beta of 0.73. The company's 50 day simple moving average is $15.93 and its two-hundred day simple moving average is $14.57.

Primis Financial (NASDAQ:FRST - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.15). The firm had revenue of $55.79 million during the quarter, compared to the consensus estimate of $48.77 million. Primis Financial had a net margin of 19.19% and a return on equity of 5.49%. Analysts predict that Primis Financial Corp. will post 1.38 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 7th. Primis Financial's dividend payout ratio is currently 18.52%.

Primis Financial Company Profile

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.

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