Rhumbline Advisers Sells 34,825 Shares of Primis Financial Corp. (NASDAQ:FRST)

Rhumbline Advisers reduced its stake in Primis Financial Corp. (NASDAQ:FRST - Free Report) by 49.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,044 shares of the company's stock after selling 34,825 shares during the period. Rhumbline Advisers owned 0.15% of Primis Financial worth $352,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FRST. PL Capital Advisors LLC grew its holdings 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 worth $64,612,000 after purchasing an additional 5,066,069 shares during the period. Fourthstone LLC grew its holdings in Primis Financial by 263.3% in the fourth quarter. Fourthstone LLC now owns 898,014 shares of the company's stock worth $10,471,000 after purchasing an additional 650,820 shares during the period. Mendon Capital Advisors Corp grew its holdings in Primis Financial by 11.3% in the fourth quarter. Mendon Capital Advisors Corp now owns 1,051,728 shares of the company's stock worth $12,263,000 after purchasing an additional 106,721 shares during the period. Cary Street Partners Financial LLC purchased a new stake in Primis Financial in the fourth quarter worth about $778,000. Finally, Renaissance Technologies LLC grew its holdings in Primis Financial by 14.0% in the fourth quarter. Renaissance Technologies LLC now owns 389,513 shares of the company's stock worth $4,542,000 after purchasing an additional 47,900 shares during the period. 74.96% of the stock is owned by institutional investors.

Primis Financial Trading Up 4.1%

NASDAQ:FRST opened at $10.38 on Tuesday. The company's 50 day moving average price is $9.18 and its 200-day moving average price is $10.15. Primis Financial Corp. has a 52 week low of $7.59 and a 52 week high of $13.52. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. The stock has a market cap of $256.59 million, a price-to-earnings ratio of -35.79 and a beta of 0.71.

Primis Financial (NASDAQ:FRST - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.12). Primis Financial had a negative net margin of 2.94% and a negative return on equity of 1.83%. The firm had revenue of $32.53 million for the quarter, compared to analysts' expectations of $26.90 million. On average, equities research analysts forecast that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.85%. The ex-dividend date was Wednesday, May 14th. Primis Financial's dividend payout ratio is currently -137.93%.

Wall Street Analyst Weigh In

FRST has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Primis Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Maxim Group initiated coverage on shares of Primis Financial in a report on Monday, May 12th. They set a "buy" rating and a $1.00 price target on the stock.

About Primis Financial

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.

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