Key Points
- Director Scott Gamble bought 1,389 shares of Primis Financial at an average price of $14.39, a transaction worth about $19,988, according to an SEC filing.
- Primis Financial stock was up 2.9% and recently traded around $14.89, near its 12-month high of $15.10 and above both its 50-day and 200-day moving averages.
- The company reported better-than-expected first-quarter earnings of $0.33 per share and revenue of $45.63 million, while analysts currently rate the stock a Moderate Buy with a $17.00 consensus target.
Primis Financial Corp. (NASDAQ:FRST - Get Free Report) Director Scott Gamble bought 1,389 shares of the company's stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $14.39 per share, for a total transaction of $19,987.71. Following the acquisition, the director owned 1,389 shares of the company's stock, valued at approximately $19,987.71. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Primis Financial Trading Up 2.9%
NASDAQ:FRST opened at $14.89 on Wednesday. The firm has a market cap of $368.83 million, a P/E ratio of 7.02 and a beta of 0.75. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $13.97 and its 200-day simple moving average is $13.31. Primis Financial Corp. has a 12-month low of $9.29 and a 12-month high of $15.10.
Primis Financial (NASDAQ:FRST - Get Free Report) last released 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. The business had revenue of $45.63 million for the quarter, compared to analyst estimates of $43.87 million. Primis Financial had a return on equity of 4.98% and a net margin of 19.71%. Equities analysts anticipate that Primis Financial Corp. will post 1.65 EPS for the current year.
Primis Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.7%. Primis Financial's payout ratio is presently 18.87%.
Analysts Set New Price Targets
FRST has been the topic of a number of recent research reports. Wall Street Zen lowered Primis Financial from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. 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 on the stock. Finally, Weiss Ratings upgraded Primis Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Two equities research 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.
Read Our Latest Stock Report on Primis Financial
Institutional Trading of Primis Financial
A number of institutional investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC purchased a new stake in Primis Financial during the first quarter worth $1,303,000. Empowered Funds LLC boosted its position in Primis Financial by 9.7% during the first quarter. Empowered Funds LLC now owns 46,907 shares of the company's stock worth $623,000 after purchasing an additional 4,139 shares in the last quarter. Quantinno Capital Management LP boosted its position in 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 in the last quarter. Mendon Capital Advisors Corp boosted its position in Primis Financial by 0.6% during 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Primis Financial by 15.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 171,309 shares of the company's stock worth $2,275,000 after purchasing an additional 22,793 shares in the last quarter. 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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
