Primis Financial (NASDAQ:FRST) Coverage Initiated by Analysts at Maxim Group

Equities researchers at Maxim Group began coverage on shares of Primis Financial (NASDAQ:FRST - Get Free Report) in a report released on Monday, MarketBeat.com reports. The brokerage set a "buy" rating and a $1.00 price target on the stock. Maxim Group's target price indicates a potential downside of 89.45% from the stock's previous close.

Primis Financial Stock Up 0.5%

FRST stock traded up $0.05 during midday trading on Monday, reaching $9.48. The company had a trading volume of 76,670 shares, compared to its average volume of 73,875. The company has a 50 day moving average of $9.04 and a two-hundred day moving average of $10.66. The company has a market capitalization of $234.37 million, a P/E ratio of -31.60 and a beta of 0.65. Primis Financial has a 1 year low of $7.59 and a 1 year high of $13.52. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24.

Primis Financial (NASDAQ:FRST - Get Free Report) last released its quarterly earnings data 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 return on equity of 2.05% and a negative net margin of 2.97%. The firm had revenue of $32.53 million during the quarter, compared to analyst estimates of $26.90 million. On average, equities research analysts expect that Primis Financial will post 1.4 earnings per share for the current fiscal year.

Insider Activity

In other Primis Financial news, Director John Fitzgerald Biagas acquired 10,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $9.97 per share, for a total transaction of $99,700.00. Following the completion of the purchase, the director now owns 88,469 shares of the company's stock, valued at approximately $882,035.93. This trade represents a 12.74% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Primis Financial

Several hedge funds have recently modified their holdings of FRST. Rhumbline Advisers raised its position in shares of Primis Financial by 94.3% during the fourth 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 last quarter. Barclays PLC raised its stake in shares of Primis Financial by 243.8% in the third quarter. Barclays PLC now owns 27,441 shares of the company's stock valued at $334,000 after purchasing an additional 19,460 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Primis Financial by 120.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company's stock valued at $866,000 after acquiring an additional 38,792 shares in the last quarter. Mendon Capital Advisors Corp lifted its position in shares of Primis Financial by 11.3% during the 4th quarter. Mendon Capital Advisors Corp now owns 1,051,728 shares of the company's stock worth $12,263,000 after buying an additional 106,721 shares during the period. Finally, PL Capital Advisors LLC raised its stake in Primis Financial by 1,066.0% during the fourth quarter. PL Capital Advisors LLC now owns 5,541,310 shares of the company's stock worth $64,612,000 after acquiring an additional 5,066,069 shares in the last quarter. 74.96% of the stock is owned by institutional investors.

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.