Bank of New York Mellon Corp Raises Stake in Primis Financial Corp. (NASDAQ:FRST)

Bank of New York Mellon Corp boosted its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 2.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 148,121 shares of the company’s stock after purchasing an additional 4,001 shares during the period. Bank of New York Mellon Corp’s holdings in Primis Financial were worth $1,552,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Panagora Asset Management Inc. purchased a new stake in Primis Financial during the fourth quarter worth about $275,000. Price T Rowe Associates Inc. MD raised its position in shares of Primis Financial by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,693 shares of the company’s stock valued at $411,000 after buying an additional 1,348 shares during the last quarter. Empowered Funds LLC grew its holdings in Primis Financial by 8.1% in the first quarter. Empowered Funds LLC now owns 48,365 shares of the company’s stock valued at $589,000 after purchasing an additional 3,609 shares during the period. Quadrature Capital Ltd purchased a new stake in Primis Financial in the fourth quarter valued at approximately $661,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Primis Financial by 103.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 124,757 shares of the company’s stock valued at $1,518,000 after purchasing an additional 63,582 shares during the period. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Primis Financial Stock Performance

Primis Financial stock opened at $11.83 on Thursday. Primis Financial Corp. has a 1 year low of $7.54 and a 1 year high of $13.69. The firm has a 50 day moving average price of $11.90 and a 200 day moving average price of $11.20. The company has a market cap of $291.99 million, a price-to-earnings ratio of 13.76 and a beta of 0.75.

Primis Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.10 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 3.38%. Primis Financial’s dividend payout ratio (DPR) is presently 46.51%.

Primis Financial Company Profile

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits.