Key Points
- Insider purchase: EVP Matthew Alan Switzer bought 2,500 shares on Feb. 3 at an average price of $14.06 (~$35,150), raising his stake to 96,226 shares (a 2.67% increase); the trade was disclosed in an SEC filing.
- Mixed quarterly results: Primis reported Q4 EPS of $0.10, missing the $0.34 consensus, while revenue topped expectations at $80.87M; the stock trades near its 52‑week high and carries a P/E of 7.41.
- Capital return actions: The board authorized a $750,000 share repurchase program (about 0.2% of shares) and declared a $0.10 quarterly dividend (annualized $0.40, ~2.8% yield; ex‑dividend Feb. 13).
Primis Financial Corp. (NASDAQ:FRST - Get Free Report) EVP Matthew Alan Switzer purchased 2,500 shares of Primis Financial stock in a transaction dated Tuesday, February 3rd. The shares were purchased at an average cost of $14.06 per share, for a total transaction of $35,150.00. Following the transaction, the executive vice president owned 96,226 shares in the company, valued at approximately $1,352,937.56. This trade represents a 2.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Primis Financial Price Performance
FRST stock opened at $14.31 on Thursday. Primis Financial Corp. has a 52-week low of $7.59 and a 52-week high of $14.55. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. The stock has a market cap of $352.60 million, a price-to-earnings ratio of 7.41 and a beta of 0.77. The business has a fifty day moving average of $13.10 and a two-hundred day moving average of $11.65.
Primis Financial (NASDAQ:FRST - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.24). Primis Financial had a return on equity of 4.11% and a net margin of 18.78%.The business had revenue of $80.87 million for the quarter, compared to analysts' expectations of $30.01 million. As a group, research analysts anticipate that Primis Financial Corp. will post 1.4 earnings per share for the current year.
Primis Financial announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 18th that permits the company to repurchase $750,000.00 in outstanding shares. This repurchase authorization permits the company to buy up to 0.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Primis Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, February 13th. Primis Financial's dividend payout ratio (DPR) is 20.73%.
Analysts Set New Price Targets
Several research firms recently issued reports on FRST. Zacks Research upgraded Primis Financial from a "strong sell" rating to a "hold" rating in a report on Monday, October 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Primis Financial in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Primis Financial from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $1.00.
View Our Latest Research Report on FRST
Hedge Funds Weigh In On Primis Financial
Several large investors have recently bought and sold shares of FRST. PNC Financial Services Group Inc. raised its stake in Primis Financial by 27.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,786 shares of the company's stock valued at $61,000 after buying an additional 1,231 shares in the last quarter. First Trust Advisors LP raised its position in shares of Primis Financial by 8.6% during the 2nd quarter. First Trust Advisors LP now owns 16,623 shares of the company's stock worth $180,000 after acquiring an additional 1,313 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Primis Financial by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,072 shares of the company's stock worth $128,000 after purchasing an additional 1,370 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Primis Financial by 290.2% in the third quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company's stock valued at $25,000 after purchasing an additional 1,744 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Primis Financial in the second quarter valued at approximately $25,000. Hedge funds and other institutional investors own 74.96% of the company's stock.
About Primis Financial
(
Get Free Report)
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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