Key Points
- Insider buying: Primis Financial Director Robert Yates Clagett bought 1,421 shares at $14.00 each, spending $19,894. After the purchase, he owned 53,665 shares, a 2.72% increase in his position.
- Stock and earnings backdrop: FRST was up 0.9% to $14.15 and has traded between $9.19 and $14.97 over the past year. The company recently reported quarterly EPS of $0.33, slightly ahead of expectations, on revenue of $45.63 million.
- Dividend and analyst view: Primis Financial declared a quarterly dividend of $0.10 per share, implying a 2.8% yield and an 18.87% payout ratio. Analysts currently have a Moderate Buy consensus with an average price target of $17.00.
Primis Financial Corp. (NASDAQ:FRST - Get Free Report) Director Robert Yates Clagett bought 1,421 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of $14.00 per share, for a total transaction of $19,894.00. Following the acquisition, the director directly owned 53,665 shares of the company's stock, valued at $751,310. This represents a 2.72% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Primis Financial Stock Up 0.9%
NASDAQ:FRST opened at $14.15 on Thursday. The firm has a market capitalization of $350.52 million, a price-to-earnings ratio of 6.67 and a beta of 0.76. Primis Financial Corp. has a twelve month low of $9.19 and a twelve month high of $14.97. The stock's 50 day moving average price is $13.71 and its two-hundred day moving average price is $13.10. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16.
Primis Financial (NASDAQ:FRST - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. The company had revenue of $45.63 million for the quarter, compared to analysts' expectations of $43.87 million. Equities research analysts expect that Primis Financial Corp. will post 1.65 earnings per share for the current fiscal year.
Primis Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, May 8th. Primis Financial's dividend payout ratio (DPR) is presently 18.87%.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on FRST shares. Weiss Ratings raised shares of Primis Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Keefe, Bruyette & Woods assumed coverage on Primis Financial in a report on Monday, April 20th. They issued an "outperform" rating and a $17.00 price objective for the company. Finally, Wall Street Zen downgraded Primis Financial from a "buy" rating to a "hold" rating in a research report on Sunday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.00.
Check Out Our Latest Report on Primis Financial
Institutional Trading of Primis Financial
Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its position in Primis Financial by 9.7% during the 1st quarter. Empowered Funds LLC now owns 46,907 shares of the company's stock worth $623,000 after buying an additional 4,139 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Primis Financial by 25.7% during the first quarter. Quantinno Capital Management LP now owns 50,363 shares of the company's stock worth $669,000 after purchasing an additional 10,298 shares during the period. Mendon Capital Advisors Corp grew its stake in shares of Primis Financial by 0.6% in the first quarter. Mendon Capital Advisors Corp now owns 1,224,543 shares of the company's stock worth $16,262,000 after purchasing an additional 7,216 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Primis Financial by 15.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 171,309 shares of the company's stock valued at $2,275,000 after purchasing an additional 22,793 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings 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 valued at $15,747,000 after purchasing an additional 28,998 shares during the period. Institutional investors and hedge funds own 74.96% of the company's stock.
Primis Financial Company Profile
(
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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