Key Points
- Primis Financial director Scott Gamble bought 1,711 shares on June 3 at an average price of $14.59, increasing his direct holdings to 3,100 shares.
- The company recently beat quarterly estimates, reporting EPS of $0.33 versus $0.32 expected and revenue of $45.63 million versus $43.87 million expected.
- Primis Financial also paid a quarterly dividend of $0.10 per share, implying a 2.7% annualized yield, while analysts currently rate the stock a “Moderate Buy” with a $17 price target.
Primis Financial Corp. (NASDAQ:FRST - Get Free Report) Director Scott Gamble acquired 1,711 shares of Primis Financial stock in a transaction on Wednesday, June 3rd. The shares were bought at an average price of $14.59 per share, with a total value of $24,963.49. Following the purchase, the director directly owned 3,100 shares in the company, valued at approximately $45,229. The trade was a 123.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Primis Financial Stock Performance
NASDAQ FRST opened at $14.94 on Friday. The stock has a 50-day simple moving average of $14.08 and a two-hundred day simple moving average of $13.39. The firm has a market capitalization of $370.06 million, a P/E ratio of 7.05 and a beta of 0.75. Primis Financial Corp. has a fifty-two week low of $9.34 and a fifty-two week high of $15.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 1.02.
Primis Financial (NASDAQ:FRST - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $45.63 million during 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%. On average, equities analysts forecast that Primis Financial Corp. will post 1.57 earnings per share for the current year.
Primis Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, May 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.7%. Primis Financial's dividend payout ratio (DPR) is presently 18.87%.
Institutional Investors Weigh In On Primis Financial
A number of institutional investors have recently modified their holdings of FRST. Patriot Financial Partners GP II L.P. acquired a new stake in shares of Primis Financial during the 3rd quarter valued at about $12,796,000. North Reef Capital Management LP acquired a new stake in shares of Primis Financial during the 3rd quarter valued at about $10,246,000. Alliancebernstein L.P. boosted its holdings in Primis Financial by 44.5% in the 3rd quarter. Alliancebernstein L.P. now owns 1,091,037 shares of the company's stock worth $11,467,000 after buying an additional 336,149 shares during the last quarter. Fourthstone LLC boosted its holdings in Primis Financial by 31.9% in the 4th quarter. Fourthstone LLC now owns 932,437 shares of the company's stock worth $12,970,000 after buying an additional 225,504 shares during the last quarter. Finally, Mendon Capital Advisors Corp boosted its holdings in Primis Financial by 16.6% in the 2nd quarter. Mendon Capital Advisors Corp now owns 1,301,933 shares of the company's stock worth $14,126,000 after buying an additional 185,083 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on FRST. Keefe, Bruyette & Woods began coverage on Primis Financial in a research note on Monday, April 20th. They set an "outperform" rating and a $17.00 price objective for the company. Wall Street Zen lowered Primis Financial from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. 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 investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Primis Financial has an average rating of "Moderate Buy" and a consensus price target of $17.00.
View Our Latest Stock Report on FRST
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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