Segall Bryant & Hamill LLC Takes $1.63 Million Position in Primis Financial Corp. (NASDAQ:FRST)

Segall Bryant & Hamill LLC purchased a new position in shares of Primis Financial Corp. (NASDAQ:FRST - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 167,255 shares of the company's stock, valued at approximately $1,634,000. Segall Bryant & Hamill LLC owned 0.68% of Primis Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FRST. JPMorgan Chase & Co. increased its position in shares of Primis Financial by 40.6% in the 4th quarter. JPMorgan Chase & Co. now owns 99,999 shares of the company's stock worth $1,166,000 after purchasing an additional 28,887 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Primis Financial by 25.7% in the 4th 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 during the last quarter. Renaissance Technologies LLC increased its position in shares of Primis Financial by 14.0% in the 4th 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 last quarter. ELCO Management Co. LLC increased its position in shares of Primis Financial by 9.7% in the 4th quarter. ELCO Management Co. LLC now owns 84,008 shares of the company's stock worth $980,000 after purchasing an additional 7,422 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Primis Financial by 19.5% in the 4th quarter. Barclays PLC now owns 32,786 shares of the company's stock worth $382,000 after purchasing an additional 5,345 shares during the last quarter. Hedge funds and other institutional investors own 74.96% of the company's stock.

Wall Street Analyst Weigh In

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

Primis Financial Stock Up 4.3%

FRST stock opened at $11.90 on Friday. Primis Financial Corp. has a 12 month low of $7.59 and a 12 month high of $13.52. The firm has a market cap of $294.17 million, a PE ratio of -41.03 and a beta of 0.74. The firm has a 50 day simple moving average of $10.17 and a 200 day simple moving average of $10.04. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.96.

Primis Financial (NASDAQ:FRST - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate 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 business had revenue of $32.53 million for the quarter, compared to analyst estimates of $26.90 million. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.36%. Primis Financial's dividend payout ratio is currently -137.93%.

Primis Financial 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.

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