Primis Financial (NASDAQ:FRST) Director Robert Yates Clagett Buys 1,830 Shares
Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett acquired 1,830 shares at $10.84 per share, totaling $19,837.20. Post-transaction, Clagett owns 48,566 shares, valued at $526,455.44, a 3.92% increase in ownership. The acquisition was disclosed in an SEC filing. Primis Financial's stock traded at $11.01 with a market cap of $271.32 million. The company reported $0.28 EPS for Q3, missing estimates. A quarterly dividend of $0.10 per share will be paid on November 21st. Institutional investors own 74.96% of the stock.
Primis Financial Corp. (NASDAQ:FRST - Get Free Report) Director Robert Yates Clagett acquired 1,830 shares of the company's stock in a transaction that occurred on Tuesday, November 11th. The shares were acquired at an average price of $10.84 per share, with a total value of $19,837.20. Following the completion of the transaction, the director owned 48,566 shares in the company, valued at $526,455.44. The trade was a 3.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
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Primis Financial Price Performance
Shares of FRST traded up $0.05 during mid-day trading on Wednesday, reaching $11.01. The company had a trading volume of 11,304 shares, compared to its average volume of 89,527. The company's 50 day simple moving average is $10.61 and its 200 day simple moving average is $10.48. The company has a market capitalization of $271.32 million, a price-to-earnings ratio of 78.79 and a beta of 0.86. Primis Financial Corp. has a 1-year low of $7.59 and a 1-year high of $12.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.95 and a current ratio of 0.98.
Primis Financial (NASDAQ:FRST - Get Free Report) last posted its earnings results on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business had revenue of $41.00 million for the quarter, compared to analyst estimates of $27.96 million. Primis Financial had a negative return on equity of 0.76% and a net margin of 1.31%. Analysts expect that Primis Financial Corp. will post 1.4 EPS for the current year.
Primis Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 7th. This represents a $0.40 dividend on an annualized basis and a yield of 3.6%. Primis Financial's payout ratio is 285.71%.
Institutional Trading of Primis Financial
Several large investors have recently modified their holdings of the business. Rhino Investment Partners Inc purchased a new stake in Primis Financial in the first quarter worth $6,818,000. Fourthstone LLC boosted its stake in shares of Primis Financial by 219.5% during the 2nd quarter. Fourthstone LLC now owns 576,260 shares of the company's stock valued at $6,252,000 after purchasing an additional 395,924 shares in the last quarter. CSM Advisors LLC bought a new position in Primis Financial in the second quarter worth about $4,108,000. Mendon Capital Advisors Corp boosted its position in Primis Financial by 16.6% during the 2nd quarter. Mendon Capital Advisors Corp now owns 1,301,933 shares of the company's stock valued at $14,126,000 after acquiring an additional 185,083 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Primis Financial during the 1st quarter worth approximately $1,634,000. 74.96% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
FRST has been the subject of several research analyst reports. Zacks Research raised Primis Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, October 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Primis Financial in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $1.00.
Read Our Latest Stock Report on FRST
Primis Financial Company Profile
(Get Free Report)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.
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