Empowered Funds LLC Sells 16,593 Shares of Primis Financial Corp. (NASDAQ:FRST)

Empowered Funds LLC decreased its position in Primis Financial Corp. (NASDAQ:FRST) by 31.9% during the 3rd quarter, Holdings Channel reports. The firm owned 35,372 shares of the company’s stock after selling 16,593 shares during the period. Empowered Funds LLC’s holdings in Primis Financial were worth $431,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Primis Financial by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,107,530 shares of the company’s stock worth $13,479,000 after acquiring an additional 7,312 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Primis Financial by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,693 shares of the company’s stock worth $411,000 after buying an additional 1,348 shares during the period. 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 worth $1,518,000 after purchasing an additional 63,582 shares during the period. Bank of New York Mellon Corp increased its position in Primis Financial by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 148,121 shares of the company’s stock valued at $1,552,000 after buying an additional 4,001 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Primis Financial by 13.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 70,578 shares of the company’s stock worth $740,000 after purchasing an additional 8,398 shares during the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

Primis Financial Trading Up 1.8 %

Primis Financial stock opened at $12.63 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.31. Primis Financial Corp. has a 12-month low of $9.52 and a 12-month high of $13.69. The firm has a market capitalization of $312.25 million, a price-to-earnings ratio of 13.20 and a beta of 0.75. The firm has a 50 day moving average of $11.94 and a 200 day moving average of $11.42.

Primis Financial (NASDAQ:FRST) last issued its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The company had revenue of $66.40 million for the quarter. Primis Financial had a return on equity of 4.65% and a net margin of 7.31%. During the same period last year, the company posted $0.32 EPS. As a group, research analysts predict that Primis Financial Corp. will post 0.5 earnings per share for the current year.

Primis Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, November 8th. This represents a $0.40 annualized dividend and a yield of 3.17%.

Analyst Ratings Changes

Separately, Stephens decreased their price target on Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th.

Primis Financial 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.