Strs Ohio Makes New $433,000 Investment in Primis Financial Corp. $FRST

Key Points

• Strs Ohio has made a new investment in Primis Financial Corp., acquiring 44,300 shares worth approximately $433,000, which amounts to about 0.18% of the company's stock.
• Primis Financial reported earnings of $0.11 per share for the last quarter, missing the consensus estimate of $0.24, despite having a revenue of $42.36 million that exceeded expectations.
• The company has declared a quarterly dividend of $0.10 per share, resulting in an annualized dividend of $0.40 and a dividend yield of 3.8%.

Strs Ohio acquired a new position in Primis Financial Corp. (NASDAQ:FRST - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 44,300 shares of the company's stock, valued at approximately $433,000. Strs Ohio owned approximately 0.18% of Primis Financial at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FRST. BNP Paribas Financial Markets bought a new position in Primis Financial in the fourth quarter worth $51,000. Bank of America Corp DE increased its holdings in shares of Primis Financial by 39.3% during the fourth quarter. Bank of America Corp DE now owns 26,039 shares of the company's stock valued at $304,000 after acquiring an additional 7,350 shares in the last quarter. Citadel Advisors LLC increased its holdings in shares of Primis Financial by 53.1% during the fourth quarter. Citadel Advisors LLC now owns 72,326 shares of the company's stock valued at $843,000 after acquiring an additional 25,086 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Primis Financial by 3,268.0% during the first quarter. GAMMA Investing LLC now owns 6,096 shares of the company's stock valued at $624,000 after acquiring an additional 5,915 shares in the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in shares of Primis Financial by 47,265.2% during the first quarter. Whipplewood Advisors LLC now owns 21,788 shares of the company's stock valued at $213,000 after acquiring an additional 21,742 shares in the last quarter. Institutional investors own 74.96% of the company's stock.

Primis Financial Price Performance

Shares of NASDAQ:FRST opened at $10.64 on Tuesday. Primis Financial Corp. has a 1-year low of $7.59 and a 1-year high of $12.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.95. The business has a fifty day moving average price of $11.21 and a 200-day moving average price of $10.12. The company has a market capitalization of $262.17 million, a PE ratio of -118.22 and a beta of 0.82.

Primis Financial (NASDAQ:FRST - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). Primis Financial had a negative net margin of 0.93% and a negative return on equity of 2.02%. The company had revenue of $42.36 million for the quarter, compared to the consensus estimate of $28.13 million. As a group, equities analysts expect that Primis Financial Corp. will post 1.4 EPS for the current fiscal year.

Primis Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 3.8%. Primis Financial's dividend payout ratio (DPR) is presently -444.44%.

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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