State Street Corp Has $5.16 Million Stock Holdings in Primis Financial Corp. (NASDAQ:FRST)

State Street Corp boosted its stake in Primis Financial Corp. (NASDAQ:FRST) by 2.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 423,407 shares of the company’s stock after buying an additional 10,923 shares during the period. State Street Corp’s holdings in Primis Financial were worth $5,157,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in shares of Primis Financial by 1.1% during the second quarter. American Century Companies Inc. now owns 130,093 shares of the company’s stock worth $1,363,000 after acquiring an additional 1,410 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Primis Financial by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 59,324 shares of the company’s stock worth $723,000 after buying an additional 2,708 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Primis Financial by 1.9% in the third quarter. Segall Bryant & Hamill LLC now owns 182,617 shares of the company’s stock valued at $2,224,000 after acquiring an additional 3,346 shares during the period. Victory Capital Management Inc. grew its stake in shares of Primis Financial by 5.4% in the third quarter. Victory Capital Management Inc. now owns 78,000 shares of the company’s stock valued at $950,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Primis Financial by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 148,121 shares of the company’s stock worth $1,552,000 after acquiring an additional 4,001 shares during the period. 74.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stephens cut their price objective on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

Primis Financial Trading Down 1.4 %

Shares of NASDAQ:FRST opened at $11.66 on Monday. The business’s 50 day simple moving average is $12.08 and its 200 day simple moving average is $11.71. Primis Financial Corp. has a 1 year low of $9.52 and a 1 year high of $13.69. 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 company has a market capitalization of $288.27 million, a P/E ratio of 10.80 and a beta of 0.78.

Primis Financial (NASDAQ:FRST) last released its 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). The company had revenue of $66.40 million for the quarter. Primis Financial had a return on equity of 3.28% and a net margin of 6.00%. During the same quarter in the prior year, the business posted $0.32 earnings per share. On average, research analysts anticipate that Primis Financial Corp. will post 0.5 EPS for the current fiscal year.

Primis Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Friday, November 8th. Primis Financial’s payout ratio is presently 37.04%.

Insider Transactions at Primis Financial

In other Primis Financial news, Director F L. Garrett III purchased 3,660 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $12.32 per share, for a total transaction of $45,091.20. Following the purchase, the director now owns 41,169 shares in the company, valued at approximately $507,202.08. This trade represents a 9.76 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.89% of the stock is currently owned by insiders.

About Primis Financial

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.