Primis Financial Corp. (NASDAQ:FRST) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its position in shares of Primis Financial Corp. (NASDAQ:FRST - Free Report) by 42.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,667 shares of the company's stock after selling 53,944 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.29% of Primis Financial worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its holdings in Primis Financial by 243.8% in the 3rd quarter. Barclays PLC now owns 27,441 shares of the company's stock valued at $334,000 after buying an additional 19,460 shares during the period. JPMorgan Chase & Co. raised its holdings in Primis Financial by 120.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company's stock valued at $866,000 after buying an additional 38,792 shares during the period. Rhumbline Advisers raised its holdings in Primis Financial by 94.3% in the 4th quarter. Rhumbline Advisers now owns 70,869 shares of the company's stock valued at $826,000 after buying an additional 34,394 shares during the period. PL Capital Advisors LLC raised its holdings in Primis Financial by 1,066.0% in the 4th quarter. PL Capital Advisors LLC now owns 5,541,310 shares of the company's stock valued at $64,612,000 after buying an additional 5,066,069 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Primis Financial by 12.8% in the 4th quarter. Victory Capital Management Inc. now owns 88,000 shares of the company's stock valued at $1,026,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 74.96% of the company's stock.

Primis Financial Stock Down 0.1%

Shares of FRST stock traded down $0.01 during trading hours on Monday, reaching $9.40. 164,238 shares of the stock were exchanged, compared to its average volume of 74,757. The business's fifty day moving average is $9.02 and its two-hundred day moving average is $10.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.86. Primis Financial Corp. has a 12-month low of $7.59 and a 12-month high of $13.52. The firm has a market capitalization of $232.40 million, a P/E ratio of -31.33 and a beta of 0.65.

Primis Financial (NASDAQ:FRST - Get Free Report) last released 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). Primis Financial had a negative return on equity of 2.05% and a negative net margin of 2.97%. The firm had revenue of $32.53 million for the quarter, compared to analysts' expectations of $26.90 million. As a group, research analysts expect that Primis Financial Corp. will post 1.4 EPS for the current fiscal year.

Primis Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, May 14th. Primis Financial's dividend payout ratio (DPR) is -137.93%.

Insider Activity at Primis Financial

In other news, Director John Fitzgerald Biagas acquired 10,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $9.97 per share, with a total value of $99,700.00. Following the completion of the acquisition, the director now owns 88,469 shares of the company's stock, valued at $882,035.93. The trade was a 12.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Maxim Group initiated coverage on shares of Primis Financial in a research note on Monday, May 12th. They set a "buy" rating and a $1.00 price target on the stock.

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.