Primis Financial Corp. (NASDAQ:FRST) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 466,212 shares of the company’s stock after purchasing an additional 10,656 shares during the period. Geode Capital Management LLC’s holdings in Primis Financial were worth $5,679,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FRST. Mackenzie Financial Corp acquired a new position in Primis Financial during the 2nd quarter valued at about $106,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Primis Financial during the second quarter valued at approximately $144,000. AQR Capital Management LLC raised its holdings in Primis Financial by 55.1% during the second quarter. AQR Capital Management LLC now owns 19,097 shares of the company’s stock worth $200,000 after purchasing an additional 6,783 shares in the last quarter. De Lisle Partners LLP lifted its position in Primis Financial by 109.5% in the third quarter. De Lisle Partners LLP now owns 21,016 shares of the company’s stock worth $256,000 after purchasing an additional 10,986 shares during the period. Finally, Barclays PLC boosted its stake in Primis Financial by 243.8% during the 3rd quarter. Barclays PLC now owns 27,441 shares of the company’s stock valued at $334,000 after purchasing an additional 19,460 shares in the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director F L. Garrett III acquired 3,660 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $12.32 per share, with a total value of $45,091.20. Following the purchase, the director now owns 41,169 shares of the company’s stock, valued at approximately $507,202.08. This trade represents a 9.76 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 10.89% of the stock is currently owned by company insiders.

Primis Financial Stock Performance

Shares of FRST opened at $11.49 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.98. The firm’s 50 day moving average is $12.06 and its 200-day moving average is $11.78. Primis Financial Corp. has a 12-month low of $9.52 and a 12-month high of $13.69. The stock has a market capitalization of $284.07 million, a P/E ratio of 10.64 and a beta of 0.78.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.35). Primis Financial had a return on equity of 3.28% and a net margin of 6.00%. The business had revenue of $66.40 million during the quarter. During the same quarter last year, the business posted $0.32 EPS. Equities research analysts anticipate that Primis Financial Corp. will post 0.5 EPS for the current fiscal year.

Primis Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.48%. Primis Financial’s dividend payout ratio (DPR) is 37.04%.

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.