Nuveen Asset Management LLC Sells 29,250 Shares of Primis Financial Corp. (NASDAQ:FRST)

Nuveen Asset Management LLC lessened its position in shares of Primis Financial Corp. (NASDAQ:FRST - Free Report) by 40.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,785 shares of the company's stock after selling 29,250 shares during the quarter. Nuveen Asset Management LLC owned about 0.18% of Primis Financial worth $511,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FRST. BNP Paribas Financial Markets acquired a new position in Primis Financial during the fourth quarter valued at approximately $51,000. Wells Fargo & Company MN boosted its position 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 worth $147,000 after purchasing an additional 2,585 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Primis Financial in the 4th quarter valued at $148,000. Oxford Asset Management LLP acquired a new position in shares of Primis Financial in the 4th quarter valued at $162,000. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Primis Financial in the 4th quarter valued at $194,000. Institutional investors own 74.96% of the company's stock.

Primis Financial Stock Up 2.7%

FRST traded up $0.26 during trading on Friday, reaching $9.73. The company had a trading volume of 45,062 shares, compared to its average volume of 76,984. The company has a market cap of $240.55 million, a P/E ratio of -32.43 and a beta of 0.71. Primis Financial Corp. has a 12 month low of $7.59 and a 12 month high of $13.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.86. The business's fifty day moving average price is $8.87 and its 200 day moving average price is $10.36.

Primis Financial (NASDAQ:FRST - Get Free Report) last announced its earnings results 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). The company had revenue of $32.53 million during the quarter, compared to analyst estimates of $26.90 million. Primis Financial had a negative return on equity of 2.05% and a negative net margin of 2.97%. Equities analysts anticipate that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.40 annualized dividend and a dividend yield of 4.11%. Primis Financial's dividend payout ratio is currently -137.93%.

Insider Transactions at Primis Financial

In other Primis Financial news, Director John Fitzgerald Biagas acquired 10,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $9.97 per share, with a total value of $99,700.00. Following the completion of the transaction, the director now directly owns 88,469 shares in the company, valued at $882,035.93. This trade represents a 12.74% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.96% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FRST shares. Maxim Group started coverage on Primis Financial in a report on Monday, May 12th. They set a "buy" rating and a $1.00 target price on the stock. Wall Street Zen raised Primis Financial from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

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.