Primis Financial (NASDAQ:FRST) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Primis Financial from hold to buy, adding to a generally positive analyst tone on the stock.
• Recent earnings came in slightly above expectations, with Primis Financial reporting $0.33 EPS versus a $0.32 consensus and revenue of $45.63 million versus $43.87 million expected.
• The stock was trading down 0.9% at $14.46, near its 52-week high of $14.97, while institutional investors continued to hold a large stake, owning about 74.96% of shares.

Primis Financial (NASDAQ:FRST - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other brokerages have also issued reports on FRST. Keefe, Bruyette & Woods initiated coverage on Primis Financial in a research note on Monday, April 20th. They issued an "outperform" rating and a $17.00 price target for the company. Weiss Ratings upgraded Primis Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Primis Financial Trading Down 0.9%

Shares of FRST stock opened at $14.46 on Friday. Primis Financial has a 52-week low of $8.92 and a 52-week high of $14.97. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 1.03. The firm has a market capitalization of $358.20 million, a PE ratio of 6.82 and a beta of 0.76. The stock has a fifty day simple moving average of $13.57 and a two-hundred day simple moving average of $12.87.

Primis Financial (NASDAQ:FRST - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. Primis Financial had a return on equity of 5.09% and a net margin of 19.71%.The business had revenue of $45.63 million during the quarter, compared to analyst estimates of $43.87 million. On average, analysts predict that Primis Financial will post 1.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in Primis Financial by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,185,793 shares of the company's stock worth $15,747,000 after acquiring an additional 28,998 shares in the last quarter. Strs Ohio grew its position in Primis Financial by 2.6% in the first quarter. Strs Ohio now owns 44,000 shares of the company's stock worth $584,000 after acquiring an additional 1,100 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Primis Financial in the first quarter worth about $179,000. Empowered Funds LLC grew its position in Primis Financial by 5.0% in the fourth quarter. Empowered Funds LLC now owns 42,768 shares of the company's stock worth $595,000 after acquiring an additional 2,018 shares in the last quarter. Finally, Oxford Asset Management LLP purchased a new position in Primis Financial in the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 74.96% of the company's stock.

About Primis Financial

Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.

Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.

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