Primis Financial Corp. (NASDAQ:FRST) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of Primis Financial Corp. (NASDAQ:FRST) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,324 shares of the company’s stock after buying an additional 2,708 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.24% of Primis Financial worth $723,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FRST. Princeton Capital Management LLC purchased a new position in shares of Primis Financial in the 2nd quarter valued at approximately $105,000. Mackenzie Financial Corp acquired a new position in Primis Financial in the 2nd quarter valued at $106,000. Northwestern Mutual Wealth Management Co. purchased a new position in Primis Financial during the 2nd quarter worth $144,000. AQR Capital Management LLC lifted its stake in shares of Primis Financial by 55.1% in the 2nd quarter. AQR Capital Management LLC now owns 19,097 shares of the company’s stock worth $200,000 after acquiring an additional 6,783 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Primis Financial by 13.5% in the second quarter. Panagora Asset Management Inc. now owns 70,578 shares of the company’s stock valued at $740,000 after acquiring an additional 8,398 shares in the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens cut their target price 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 Stock Performance

NASDAQ FRST opened at $11.69 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.24. The stock has a market cap of $289.01 million, a price-to-earnings ratio of 13.24 and a beta of 0.78. Primis Financial Corp. has a fifty-two week low of $9.52 and a fifty-two week high of $13.69. The business has a fifty day moving average of $12.12 and a 200-day moving average of $11.64.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data 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 net margin of 6.00% and a return on equity of 3.28%. The firm had revenue of $66.40 million for the quarter. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, analysts predict that Primis Financial Corp. will post 0.5 earnings per share for the current fiscal year.

Primis Financial Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 3.42%.

Insider Activity at Primis Financial

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

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.