Key Points
- Director Deborah Diaz purchased 1,050 shares on March 6 at an average price of $12.77, a 5.23% increase to her stake (now 21,122 shares) disclosed in an SEC filing.
- Primis reported a quarterly EPS miss ($0.10 vs. $0.34 expected) but strong revenue for the quarter, and the board authorized a $750,000 share buyback while paying a $0.10 quarterly dividend (≈3.1% yield).
- The stock trades around $12.76 with a market cap of ~$314M and a P/E of 6.6, and analysts have a consensus rating of Hold (mixed buy/hold coverage).
Primis Financial Corp. (NASDAQ:FRST - Get Free Report) Director Deborah Diaz acquired 1,050 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $12.77 per share, for a total transaction of $13,408.50. Following the completion of the purchase, the director owned 21,122 shares in the company, valued at $269,727.94. The trade was a 5.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Primis Financial Price Performance
Shares of FRST stock traded down $0.09 during trading hours on Friday, hitting $12.76. The company's stock had a trading volume of 37,219 shares, compared to its average volume of 95,663. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $13.56 and a 200-day moving average of $12.06. Primis Financial Corp. has a twelve month low of $7.59 and a twelve month high of $14.55. The stock has a market cap of $314.41 million, a price-to-earnings ratio of 6.61 and a beta of 0.75.
Primis Financial (NASDAQ:FRST - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.24). The company had revenue of $80.87 million during the quarter, compared to analysts' expectations of $30.01 million. Primis Financial had a net margin of 18.78% and a return on equity of 4.11%. As a group, equities research analysts anticipate that Primis Financial Corp. will post 1.4 EPS for the current year.
Primis Financial announced that its board has approved a share repurchase program on Thursday, December 18th that authorizes the company to buyback $750,000.00 in shares. This buyback authorization authorizes the company to buy up to 0.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.
Primis Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.1%. Primis Financial's dividend payout ratio (DPR) is presently 20.73%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Primis Financial from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Primis Financial in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Primis Financial has a consensus rating of "Hold" and an average price target of $1.00.
View Our Latest Stock Analysis on FRST
Institutional Investors Weigh In On Primis Financial
A number of institutional investors have recently bought and sold shares of the stock. Fourthstone LLC raised its stake in Primis Financial by 219.5% during the second quarter. Fourthstone LLC now owns 576,260 shares of the company's stock worth $6,252,000 after purchasing an additional 395,924 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Primis Financial by 154.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,555 shares of the company's stock worth $49,000 after buying an additional 2,767 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Primis Financial by 23.7% in the 4th quarter. MetLife Investment Management LLC now owns 10,241 shares of the company's stock worth $142,000 after buying an additional 1,959 shares during the period. Jump Financial LLC acquired a new position in Primis Financial in the second quarter valued at $129,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $128,000 after acquiring an additional 1,370 shares during the period. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
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