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

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Primis Financial by 3,268.0% during the first quarter. GAMMA Investing LLC now owns 6,096 shares of the company's stock worth $624,000 after buying an additional 5,915 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of Primis Financial by 53.1% in the 4th quarter. Citadel Advisors LLC now owns 72,326 shares of the company's stock worth $843,000 after acquiring an additional 25,086 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in Primis Financial during the 4th quarter worth approximately $778,000. Bank of America Corp DE grew its position in Primis Financial by 39.3% during the 4th quarter. Bank of America Corp DE now owns 26,039 shares of the company's stock worth $304,000 after acquiring an additional 7,350 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Primis Financial during the 4th quarter valued at $51,000. Institutional investors own 74.96% of the company's stock.

Primis Financial Trading Up 1.0%

NASDAQ:FRST traded up $0.11 on Friday, hitting $10.75. 239,476 shares of the stock were exchanged, compared to its average volume of 79,025. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.96 and a current ratio of 0.98. Primis Financial Corp. has a 52 week low of $7.59 and a 52 week high of $13.52. The stock has a market capitalization of $265.74 million, a price-to-earnings ratio of -37.07 and a beta of 0.71. The company's 50-day moving average price is $9.32 and its 200 day moving average price is $10.14.

Primis Financial (NASDAQ:FRST - Get Free Report) last posted its quarterly 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). Primis Financial had a negative return on equity of 1.83% and a negative net margin of 2.94%. The business had revenue of $32.53 million for the quarter, compared to the consensus estimate of $26.90 million. On average, equities research analysts forecast that Primis Financial Corp. will post 1.4 earnings per share for the current year.

Primis Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Wednesday, May 14th. Primis Financial's dividend payout ratio (DPR) is currently -137.93%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FRST shares. Wall Street Zen raised Primis Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Maxim Group began coverage on shares of Primis Financial in a research report on Monday, May 12th. They issued a "buy" rating and a $1.00 price objective for the company.

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.